Greencastle Resources Ltd. (TSXV "VGN") is a diversified resource exploration company with interests in mineral exploration and oil and gas exploration and development. Greencastle receives monthly cash flow from a royalty on the Primate oil field in Saskatchewan where the Company made a discovery late in 2003 and subsequently sold the development rights and retains a 15% sliding scale gross overriding royalty. On the strength of this royalty Greencastle has reported positive cash flow for the past 10 quarters as of the end of Q1, 2008.

In June 12, 2008, the Company applied for an oil and gas exploration permit in the St. Lawrence Lowlands of Quebec. The permit covers approximately 6,000 hectares in the Longueil area, east of Montreal, to the southwest along the trend from the recent gas discovery in the Utica shale by Forest Oil Corporation (NYSE: FST).

Greencastle is also an active gold exploration company with four projects on the prolific Battle Mtn. trend in Nevada and one in the Republic of Niger, West Africa that is currently under option to Orezone Resources Inc. Greencastle's gold exploration assets are all owned 100% or under option to third parties and have total annual carrying costs of less than $100,000. All underlying work commitments have been met and there are no future work requirements allowing the Company time to determine how best to leverage these assets.

Greencastle management continues to source and evaluate opportunities to leverage the Company's strong balance sheet for the benefit of our shareholders.