Duncan Park Holdings Corporation

Duncan Park Holdings Corporation

June 16, 2011 17:34 ET

Duncan Park Summer Drilling Planned at Red Lake

TORONTO, ONTARIO--(Marketwire - June 16, 2011) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) announced today that management has been given an audio-visual presentation by Mr. Gordon Yule, P.Geo., the project's consulting geologist, summarizing a reconnaissance geological field assessment of the land-based claims of the Dome and McManus properties, and a preliminary presentation by Abitibi Geophysics of the principal results of a ground magnetic survey and an Induced Polarization ("IP") survey of the combined Red Lake properties. The work has identified a number of coincident geophysical and geological targets characterized by anomalous chargeability, magnetic contrast, observed alteration, sulphide mineralization and structures with similar characteristics to the Red Lake gold mineralization systems.

Mr. Yule identified 22 potential land-based drill targets on both the Dome and McManus properties which he discussed during a meeting of the Duncan Park/Sphere Resources Technical Committee that was held last Friday. He has also submitted 49 chip and grab samples to Accurassay Laboratories in Thunder Bay for gold analysis, the results of which are not yet available.

Mr. Yule's primary target is a sulphide-bearing structural zone at the contact between the Howey Diorite and mafic volcanic rocks within the NW trending Chukuni deformation zone on one of the patented McManus claims. To the Company's knowledge, there has not been any prior exploratory drilling of this target.

Abitibi Geophysics presented the results of its ground magnetic survey and its IP survey that utilized its advanced IPower 3D technology. The presenters focused on two high-priority mainly land-based targets, respectively located on the Dome and McManus properties.

Significant results of the geophysical work include the identification of a zone of anomalous chargeability 600m by 150 meters coincident with structural and lithologic projections based on observed alteration, veining and sulfide mineralization. Historic drilling on small shallow veins of the nearby McManus main showing, completed in 1936, and recorded in proprietary and government files reportedly encountered significant gold values ranging from nil and trace amounts up to one ounce gold per ton over 24" in holes McManus #1 & #11 within and in proximity to this zone of anomalous chargeability. Geological mapping has identified a series of outcrops with high sulfide content approximately 300 meters to the east on strike with the geophysical anomaly. It is considered encouraging that Mr. Yule's geology-based primary target was supported by the entirely independent Abitibi surveys, and consequently has been selected as the first target to be drilled.

A second significant target located at the south eastern block on the Dome claims identified by the geophysical work is a chargeability anomaly of 300 meters in strike length by 75 meters in width. This anomaly is also surrounded by other smaller anomaly targets.

Mr. Yule is in the process of planning the summer drilling program, obtaining the required permissions, and is in discussions with drilling companies who are developing proposals for the planned work.

Further analysis of the Abitibi data will be required to identify drill targets for next winter's drilling program on the lake claims. Abitibi reported that the IP responses observed on the lake claims were weaker than those recorded over the land claims. It was thought that this may be due to the masking effect of the high conductivity of the sediments of the lake bottom. This will be elaborated upon in their final report.

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 and approved the contents of this news release.

The Company has sufficient flow-through funds presently on hand for at least 5 holes of ~300m (1500m in all). A possible flow-through share offering may be contemplated later in the year to fund an intended winter drill program on the ice for the lake-based claims.

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 and possible financing activities. 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, changes in foreign exchange and interest rates, 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, risks related to private placement financings, such as market conditions and regulatory and other approvals, obtaining necessary financing and requisite regulatory and other approvals, as well as those risk factors discussed in Duncan Park's management's discussion and analysis for the period ended February 28, 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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