VGN Greencastle Resources Ltd

Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle" or "the Company"),
is pleased to report that the Company has filed its annual audited financial
statements, MD&A and forms which contain reserves data and other oil and gas
information required by National Instrument 51-101. These filings can be found
at www.sedar.com.


Highlights of Greencastle's financial performance during fiscal 2013 are
summarized below:




--  Revenues increased over 400% from $244,580 to $1,074,659 
--  Expenses decreased 43% from $1,653,332 to $939,393 
--  Net profit increased from a loss of ($1,569,428) to a profit of $135,266
--  Total assets decreased from $6,311,420 to $6,297,496 
--  Total liabilities decreased from $225,453 to $144,319 
--  Total equity increased from $6,085,967 to $6,153,177 
--  Total assets per common share at year end 2013 were: $0.136/share (does
    not include mineral properties or 65% interest in Deveron Resources Ltd.
    "DVR")



Operating highlights for the year:



--  Increased land position at Jewel Ridge, Nevada at no cost to the
    Company. In return for granting an option extension to Rainbow Resources
    Inc., Rainbow has agreed to include patented claims totaling 35 hectares
    located within Greencastle's larger Jewel Ridge claim block. The claims
    are along trend in the immediate vicinity of the Hamburg pit, where a
    minimum 500-metre-long altered zone characterized by old workings,
    strong oxide staining and heavily silicified rock has been outlined. The
    patented claims cover the former-producing Croesus mine (gold, silver,
    lead and zinc). 
--  Defeated opportunistic takeover attempt and successfully implemented a
    pre-authorized return of capital provision to improve corporate
    flexibility in the event of future takeover attempts. 
--  Successfully farmed out the Spirit River / Charlie Lake oil play in
    Alberta to a major energy company which has drilled the first well on
    the project where Greencastle will retain a royalty. Subject to success,
    additional wells could also be drilled on the section.



Commenting on the Company's performance, Anthony Roodenburg, CEO, stated: "The
past few years have been extremely difficult for companies active in the junior
resource business. At Greencastle, we try to deliver some of the exciting upside
of this sector while doing our best to preserve shareholder value. Our financial
performance of last year demonstrates management's ability to be decisive and
respond quickly to changing market conditions. Investors can look forward to
several new initiatives at Greencastle in the coming months."


For additional information, please visit www.greencastleresources.com or
contact: Investor Relations: 416-367-4571 ext. 233.


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 includes certain "forward looking statements" within the
meaning of that phrase under Canadian securities laws. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. Forward-looking statements
reflect management's current views with respect to possible future events and
conditions and, by their nature, are based on management's beliefs and
assumptions and subject to known and unknown risks and uncertainties, both
general and specific to the Company. Although the Company believes the
expectations expressed in such forward-looking statements are reasonable, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in our forward-looking statements.
The following are important factors that could cause the Company's actual
results to differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of commodities, general
market conditions, risks inherent in exploration, risks associated with
development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital. Additional
information regarding the material factors and assumptions that were applied in
making these forward looking statements as well as the various risks and
uncertainties we face are described in greater detail in the "Risk Factors"
section of our annual and interim Management's Discussion and Analysis of our
financial results and other continuous disclosure documents and financial
statements we file with the Canadian securities regulatory authorities which are
available at www.sedar.com. The Company undertakes no obligation to update this
forward-looking information except as required by applicable law. The Company
relies on litigation protection for forward looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Investor Relations:
416-367-4571 ext. 233
www.greencastleresources.com

Greencastle Resources (TSXV:VGN)
Historical Stock Chart
From Mar 2024 to Apr 2024

Greencastle Resources (TSXV:VGN)
Historical Stock Chart
From Apr 2023 to Apr 2024