Duncastle Gold Corp.

Duncastle Gold Corp.

August 21, 2009 11:46 ET

Duncastle Closes Oversubscribed Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2009) - Duncastle Gold Corp. (TSX VENTURE:DUN)(FRANKFURT:5D3) reported that it has now closed its previously announced (August 6/09) non-brokered flow-through unit private placement. The private placement was oversubscribed and consisted of 3.7 million units at a price of C$0.11 per unit for gross proceeds of C$407,000. Each unit issued was comprised of one flow-through common share and one-half share purchase warrant, with each whole warrant exercisable to purchase one additional non flow-through common share at an exercise price of C$0.15 per share for a period of two years.

All securities issued pursuant to this private placement, including common shares, share purchase warrants and finder's warrants issued as finder's fees, carry a legend restricting trading of the securities until December 22, 2009. The private placement and finder's fees are subject to regulatory approval.

On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director, Duncastle Gold Corp.

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.

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