Duncan Park Holdings Corporation

Duncan Park Holdings Corporation

July 22, 2011 09:24 ET

Duncan Park Red Lake Drilling to Start Early August, Contractor Engaged

TORONTO, ONTARIO--(Marketwire - July 22, 2011) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) announced today that Chibougamau Diamond Drilling Ltd. of Chibougamau, Quebec has been engaged to conduct diamond drilling operations on its Red Lake, Ontario properties, commencing in early August.

Based upon recommendations by Mr. Gordon Yule, P.Geo., the project's consulting geologist, the current plan is to drill three holes into the south-eastern Dome property followed by six holes into the abutting, more northern McManus claims. Mr. Yule's report is a follow up to the presentations made by himself and by Abitibi Geophysics last month. (See press release June 16, 2011.)

The drilling on the Dome property is intended to test a chargeability anomaly of 300 meters in strike length by 75 meters in width, identified by the Abitibi geophysical work. Two other IP generated anomaly targets will also be drill tested.

The drilling in the McManus claims is initially to test a sulphide-bearing structural zone at the contact between the Howey Diorite and mafic volcanic rocks within the NW trending Chukuni deformation zone, to be followed by holes to test other targets identified by the geophysical report more fully described in the Company's press release of June 16, 2011.

Further to the press release of March 30, 2011, with respect to signing the Definitive Agreement for the McManus Property, the due diligence and regulatory approvals have been completed.

David R. Shaddrick, P.Geo., a Qualified Person within the meaning of NI 43-101, and Director of Duncan Park visited the project from May 27 to May 31, 2011 in company with Mr. Yule, and has reviewed the contents of this news release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to Duncan Park's exploration plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Duncan Park to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining industry such as economic factors, future commodity prices, market conditions, government regulation, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with exploration and development activities, availability of skilled labour and equipment, the speculative nature of gold exploration and development, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Duncan Park's management's discussion and analysis for the period ended May 31, 2011, available on www.sedar.com. Although Duncan Park has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information. Duncan Park does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

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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