Duncan Park Holdings Corporation

Duncan Park Holdings Corporation

March 31, 2011 16:28 ET

Duncan Park Announces New Director and Option Grants

TORONTO, ONTARIO--(Marketwire - March 31, 2011) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) is pleased to announce today that David R. Shaddrick has been appointed to the board of directors of the Company.

Mr. Shaddrick has 40 years experience in the mining industry. He has been an officer, director and technical advisor for public and private companies; is active in several professional societies and has published numerous papers in technical journals. He has participated in the discovery/development of several ore deposits and has extensive experience with the ore deposits of North America.

Mr. Shaddrick holds a B.Sc. in Geology from the University of Minnesota, Institute of Technology and a M.Sc. in Geology from the South Dakota School of Mines and Technology. He is a "Qualified Person" as defined by NI 43-101 and holds designations as a Professional Geoscientist (P.Geo.) from the Association of Professional Engineers and Geoscientists of British Columbia, Certified Professional Geologist (CPG) from the American Institute of Professional Geologists and is a licensed geologist (LG) in the state of Washington, USA.

The Company has previously engaged Mr. Shaddrick as a geologist to oversee the exploration of its former Nevada properties and, more recently, to conduct due diligence on the Dome property in Red Lake, Ontario, prior to the Company entering an option agreement with respect to that property, which is now the primary focus of the Company.

In addition, the Company announces that it has granted an aggregate of 4,000,000 options today, including the grant of an aggregate of 3,500,000 options to the officers and/or directors of the Company. The balance of the options was granted to certain consultants of the Company. The options are exercisable for a period of five years at a price of $0.10 per share and will vest over an 18-month period, with one-third of the options vesting every six months. 

The option grants are the first options issued by the Company since January 2008 and are being issued under the Company's amended option plan approved by shareholders in May 2010. The decision to issue the options follows the restructuring and recapitalization of the Company to go forward on its Red Lake Ontario properties.

The Company also announces that Ian McAvity, who has served as Acting President & Chief Executive Officer of Duncan Park, has agreed to continue as President & Chief Executive Officer of the Company.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

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