The Magpies have been left with a goalkeeping crisis for Wembley following Nick Pope's red card in the 2-0 defeat to Liverpool.
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Pope - who has played every Premier League game this season since signing from Burnley - was given his marching orders after racing out of his goal and handling the ball to deny Mohamed Salah racing through.
Unfortunately for the Magpies, top-flight bookings and suspensions carry over into every domestic game meaning that Pope will now miss the Carabao Cup final as part of his ban.
Who can Newcastle play in goal?
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Martin Dubravka is the club's back-up keeper and he was the man Eddie Howe chose to replace Pope in goal against Liverpool.
However, the 34-year-old played in the Carabao Cup for Man United earlier this season while he was on loan and is cup-tied.
As talkSPORT previously revealed, Dubravka will only receive a winners medal if his side lose to the Red Devils at Wembley.
Karl Darlow has already been loaned to Championship club Hull City for the rest of the season and can't be recalled.
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That has left just Karius or Gillespie as the only eligible goalkeeper's to play next week's Carabao Cup final.
Karius could make his first competitive appearance for an English side since the infamous 2018 Champions League final, where his two high-profile mistakes contributed to the Reds' 3-1 defeat against Real Madrid.
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He has been on the books at Newcastle since September, having left Jurgen Klopp's side as a free transfer at the end of last season.
But Karius is yet to feature for the Toon, having not played for any club since a 1-1 draw for Union Berlin against Hoffenheim in February 2021.
His rival for the No.1 spot Gillespie has been at Newcastle since 2020, with all three of his appearances for the club coming in the Carabao Cup.
However, those all came during his first season on Tyneside and he is yet to be thrown in since Howe came to the club.
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What has been said?
"They are our options," Howe told Sky Sports.
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"They have started games away from competitive action, several friendlies and training games. I would say they are both match ready."
Asked if he has confidence in Karius and Gillespie to start a Wembley final, Howe said: "Yeah of course, that's what they are in the squad for.
"I have got to say: I know everyone here won't have seen how well they have trained, but they are both very competitive and have been part of the group all season."
"Yeah, I heard about that," Klopp added. "I think they can absolutely rely on him, there's no doubt about that. He's a great goalie, that's why Newcastle signed him.
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"But of course unlucky for Nick Pope in the moment. Why can't Dubravka play? (Cup-tied) Ah.
"Absolutely (a good opportunity for him). This is what he (Karius) was working for all the time, absolutely."