Market Overview

John Pollock Indirectly Disposes of Shares of Newstrike Resources Ltd.

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TORONTO, ONTARIO--(Marketwire - Oct. 31, 2012) - Mr. John Pollock of Suite 902, 33 Delisle Avenue, Toronto, Ontario, announces that he has indirectly disposed of an aggregate of 105,000 common shares of Newstrike Resources Ltd. ("Newstrike" or the "Company") in a private transaction. These holding represent less than 1% of the issued and outstanding common shares of Newstrike as of October 31, 2012. As a result of this transfer, Mr. Pollock together with his joint actors own and control an aggregate of 5,519,500 common shares of Newstrike, and convertible securities entitling them to acquire an additional 575,000 common shares of the Company, representing approximately 25.7% of the issued and outstanding common shares of the Company as at October 31, 2012 (or approximately 27.6% calculated on a partially diluted basis, assuming the exercise of the above-noted convertible securities only). Of this total, Mr. Pollock owns directly an aggregate of 3,908,500 common shares of Newstrike and 575,000 convertible securities of the Company, representing approximately 18.2% of the issued and outstanding common shares of the Company as at October 31, 2012 (or approximately 20.3% calculated on a partially diluted basis, assuming the exercise of the convertible securities held directly by Mr. Pollock only).

This transaction was effected in connection with a dividend-in-kind declared by a private company indirectly controlled by Mr. Pollock, and Mr. Pollock could increase or decrease his investments in Newstrike at any time, or continue to maintain his current investment position, depending on market conditions or any other relevant factor. The transfer was effected pursuant to the exemption contained in Section 2.8 of National Instrument 45-102.

Additional Information

Additional information regarding Newstrike is available on Newstrike's website at www.newstrikeresources.com and on www.sedar.com. A copy of the applicable securities report filed in connection with the matters set forth above may be obtained through Newstrike's offices.

FOR FURTHER INFORMATION PLEASE CONTACT:
Newstrike Resources Ltd.
Donald Rankin, Director
(416) 628-6556
(416) 628-5911 (FAX)
36 Toronto Street, Suite 1000
Toronto, Ontario, M5C 2C5

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