Duncastle Gold Corp.

Duncastle Gold Corp.

November 18, 2009 16:00 ET

Duncastle Extends Mineralized Zone at Historic Yankee-Dundee Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2009) - Duncastle Gold Corp. (TSX VENTURE:DUN)(FRANKFURT:5D3) reported drill results today from a five hole, 1682 metre Phase II drill program at its flagship Yankee-Dundee property located three kilometres northeast of Ymir, in southeastern British Columbia. Drilling results have successfully increased the size of higher-grade lenses of gold and silver-enriched polymetallic mineralization located along the target horizon and have extended the mineralized zone to the west, from the historic Yankee Girl workings approximately 400 metres in strike-length.

Highlights of significant assays from this phase of work include:

- a 4.5 metre interval (est. true thickness) averaging 3.4g/t Au, 84.4g/t Ag, 1.6% Pb, and 2.6% Zn within a broader 6.5 metre interval averaging 2.6g/t Au, 61.5g/t Ag, 1.1% Pb, and 1.9% Zn from drill hole YD09-46, and

- a 2.5 metre interval averaging 6.0g/t Au, 38.1g/t Ag, 1.1% Pb and 4.3% Zn within a 4.3 metre interval averaging 5.6g/t Au, 27.4g/t Ag, 0.8% Pb and 4.1% Zn from drill hole YD09-45

The Company reported that drill holes YD09-46 and YD09-45, successfully tested a 100 metre drilling gap between the previously tested 400 and Yukon shoots and have effectively combined the two lenses of thicker and higher-grade mineralization into a single lens that has now been drill tested along a 180 metre strike-length and 280 metre dip extent. The now combined lens remains open to the west towards the 790 target, to the east towards the Yankee Girl mine and at depth along its full strike-length.

The Company also reported that drill hole YD09-44 returned a 1.3 metre interval averaging 1.6g/t Au, 54.6g/t Ag, 0.4% Pb and 0.7% Zn within a broader 8.8 metre zone averaging 0.6g/t Au, 19.3g/t Ag, 0.2% Pb, and 0.4% Zn. A hangingwall intercept also returned 1.1g/t Au, 8.5g/t Ag, 0.4% Pb and 1.2% Zn over 5.8 metres. This hole, which tested the Yankee Girl structure approximately 400 metres to the west of the historic workings, is the farthest step-out that the Company has drilled on the structure and continues to demonstrate the lateral continuity of mineralization along strike, thereby opening the potential of the western extension. All intervals are reported as estimated true thickness.

Hole YD09-47, which tested the east side of the Yukon shoot, returned three mineralized intercepts including a 1.9 metre zone with 1.7g/t Au, 59.8g/t Ag, 1.3% Pb, 7.7% Zn including a 0.6 metre interval grading 1.2g/t Au, 142g/t Ag, 3.0%Pb and 22.5% Zn.

Hole YD09-48 tested the eastern margin of the Yankee Girl mine and returned 1.7 metres of 6.4g/t Au, 35.9g/t Ag, 1.2% Pb and 1.8% Zn. A second intercept returned 0.3 metres of 21.0g/t Au, 232.0g/t Ag, 6.3% Pb, and 21.3% Zn within a broader 1.9 metre zone of 3.3g/t Au, 33.8g/t Ag, 0.9% Pb, and 3.0% Zn. Mineralization occurred in the immediate hangingwall and footwall of the historic workings and highlights increased exploration potential along the easterly projection of the Yankee Girl structure.

Drill hole YD09-43, which tested the Goodenough prospect, located 3 kilometres to the north of the Yankee Girl mine, returned only weakly anomalous precious and base metal values.

In total, the second phase drill work brought the 2009 exploration program to over 2,830 metres drilled in eleven holes with a focus on the polymetallic high-grade vein system of the Yankee Girl structure. To date, Duncastle has drilled over 7,790 metres in 48 holes at the Ymir camp at a cost of approximately $2.6 million since its acquisition of the property in 2007.

Table 1: Selected Assays from Phase II drilling on the Yankee-Dundee project

Collar Data True
------------------ Inte- Thick-
AZ DIP Depth From To rval ness Au Ag Pb Zn
Hole # Deg Deg (m) (m) (m) (m) (m) g/t g/t % %
YD09-44 170.0 -65.0 196.3 153.0 161.0 8.0 5.8 1.1 8.5 0.4 1.2
179.0 191.2 12.2 8.8 0.6 19.3 0.2 0.4
inc. 188.7 190.5 1.8 1.3 1.6 54.6 0.4 0.7
YD09-45 165.0 -55.0 199.0 179.8 185.0 5.2 4.3 5.6 27.4 0.8 4.1
inc. 179.8 182.8 3.0 2.5 6.0 38.1 1.1 4.3
and 184.0 185.0 1.0 0.8 11.4 24.3 0.9 6.9
YD09-46 150.0 -55.0 200.3 169.6 177.4 7.8 6.5 2.6 61.5 1.1 1.9
inc. 172.0 177.4 5.4 4.5 3.4 84.4 1.6 2.6
YD09-47 156.0 -55.0 318.9 22.7 23.9 1.3 1.0 1.1 8.2 0.5 0.1
246.7 249.0 2.3 1.9 1.7 59.8 1.3 7.7
248.3 248.6 0.7 0.6 1.2 142.0 3.0 22.5
252.5 255.5 3.0 2.5 0.5 20.2 0.7 2.3
YD09-48 142.0 -75.0 385.0 368.0 370.9 2.9 1.7 6.4 35.9 1.2 1.8
inc. 369.2 370.9 1.8 1.0 10.5 56.0 1.9 2.6
373.7 377.0 3.3 1.9 3.3 33.8 0.9 3.0
inc. 375.2 375.7 0.5 0.3 21.0 232.0 6.3 21.3
Analyzed by FA-ES/AA for gold and ICP-MS by Acme Labs, Vancouver BC; Samples
greater than 10g/t Au re-assayed with FA-Grav - check assays are pending;
Silver overlimits (greater than 200g/t Ag) re-assayed with FA-Grav

A complete summary of 2009 assays and longitudinal section are available on the Duncastle website at duncastlegoldcorp.com.

Upcoming Exploration Plans

Duncastle continues to follow through on recommendations from the 2008 Summary Report on Exploration reported earlier this year which contains numerous targets identified during 3D modeling of historic mine records combined with Duncastle's recent results. As well as surface drilling completed in 2009, the report recommends up to 2,300 metres of drilling on numerous targets from underground via the Wildhorse Adit, a 1,417 metre exploration adit built during the period 1928 to 1954 that intersects the Bonus vein and meets the Yankee Girl vein 110 metres below the old mine workings. The adit was inspected by Duncastle personnel in 2006 and appears to be in excellent shape structurally. Rehabilitation work consisting of minimal timber and drainage work is planned for 2010. Underground drilling below the known mineralized zones is planned along with drilling to expand the Bonus vein, a vein parallel to the Yankee Girl vein.

A full report with recommendations based on recent results is now being drafted. Additional drilling from surface is planned for 2010 to further delineate the western extensions of the Yankee Girl Mine. In addition to work planned from the Wildhorse adit, the Company may also investigate the 1235 adit to better access the western mineralized zones.

About Duncastle Gold

Duncastle Gold Corp. is a mineral exploration company based in British Columbia, Canada with projects in both central and southeastern BC. The Yankee-Dundee project comprises 26 crown grants under a 100% option agreement and 95 tenured mineral claims totaling approximately 5,987 hectares in the Nelson Mining District, located three kilometres northeast of the town of Ymir in southeastern British Columbia. Gold mineralization was first reported near Ymir in the late 1800s, with much of the mining taking place at the Yankee Girl, Dundee and Ymir mines during the period 1907 to 1951. Historical records indicate that a total of 375,000 tonnes grading 9.9g/t Au and 57g/t Ag were mined from the Yankee Girl vein during this time. Exploration by the company is targeting high-grade Au-quartz veins throughout the Ymir district which historically, together with the adjacent Sheep Creek district is reported to have produced more than one million ounces of gold(1). The Ymir camp was the largest silver producer in the British Commonwealth in the 1930s (BC MEMPR Bulletin 109, 2001). In central B.C. the company has the 8,641 hectare Porphyry Creek property in the Rocher Deboule Mountains near Smithers, with a porphyry or IOCG copper-gold target. Duncastle Gold Corp is a Manex Resource Group company.

Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results in this release.

On behalf of the Board of Directors,

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

(1) Production data was obtained from historical government records and has not been independently verified by the current operators of the project.

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Duncastle Gold Corp. relies upon litigation protection for forward looking statements.

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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