Duncastle Gold Corp.

Duncastle Gold Corp.

May 01, 2009 11:57 ET

Duncastle Amends Share Purchase Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2009) - Duncastle Gold Corp. (the "Company") (TSX VENTURE:DUN) reported today that it will amend the exercise price of 600,000 share purchase warrants from $0.30 to $0.10 and will extend the expiry date of these warrants from May 27, 2009 until May 27, 2010. The Company will also amend the exercise price of a further 1,571,501 share purchase warrants from $0.50 to $0.10 and the expiry date of these warrants will remain September 28, 2009. The Company has received the written consent of all warrantholders to amend the price of the above noted warrants.

The expiration date of the re-priced warrants is subject to an accelerated exercise period provision which will provide that, if the closing price of the Company's shares is $0.135 or higher for 10 consecutive trading days (the "Premium Trading Days"), warrantholders will only have 30 calendar days, commencing 7 calendar days after the last Premium Trading Day, to exercise the warrants. The warrants will automatically expire if the warrantholders do not exercise them within this 30 day period.

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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