Greencastle CEO Increases Share Ownership

Toronto, Ontario--(Newsfile Corp. - September 12, 2022) - Anthony Roodenburg, CEO, announces that he has filed an early warning report (the "Report") announcing the indirect acquisition ("Acquisition") of 1,000,000 common shares (the "Common Shares") in the capital of Greencastle Resources Ltd. (the "Company") and 1,000,000 Common Share purchase warrants (the "Warrants") in the capital of the Company.

The shares were acquired through Mr. Roodenburg's private Ontario corporation, Turiyan Ventures Ltd. Prior to the completion of the Acquisition, Mr. Roodenburg beneficially held and controlled, directly or indirectly, 5,530,449 Common Shares and 3,750,000 stock options, representing approximately, 14.26% of the Company's issued and outstanding on an undiluted basis and approximately 21.83% on a partially diluted basis. Following the completion of the Acquisition, Mr. Roodenburg beneficially owns and controls, directly or indirectly, an aggregate of 6,530,449 Common Shares, 3,750,000 stock options and 1,000,000 Warrants, representing approximately 16.84% of the Company's issued and outstanding on an undiluted basis and approximately 25.92% on a partially diluted basis.

Depending on market and other conditions, or as future circumstances may dictate, Mr. Roodenburg may from time to time increase or decrease holdings of Common Shares or other securities of the Company. A copy of the early warning report will be available on the Company's issuer profile on SEDAR at www.sedar.com.

For further details relating to the acquisition, please see the Report, a copy of which is available on SEDAR or from Anthony Roodenburg at 416 367 4571.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136829