Duncastle Gold Corp.
TSX VENTURE : DUN
FRANKFURT : 5D3

Duncastle Gold Corp.

August 06, 2009 14:33 ET

Duncastle Announces Flow-Through and Non Flow-Through Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2009) - Duncastle Gold Corp. (the "Company") (TSX VENTURE:DUN)(FRANKFURT:5D3) reported today that it plans to issue up to 5.0 million common shares in two non-brokered private placements for total gross proceeds of C$520,000.

Flow-Through Private Placement

The Company plans to issue up to 3.5 million common shares in a non-brokered flow-through unit private placement at a price of C$0.11 per unit to raise C$385,000. Each unit will consist of one flow-through common share and one-half eshare purchase warrant, with each whole warrant exercisable to purchase one additional non flow-through common share at an exercise price of C$0.15 per share for a period of two years.

Non Flow-Through Private Placement

The Company also plans to issue up to 1.5 million common shares in a non-brokered non flow-through unit private placement at a price of C$0.09 per unit to raise C$135,000. Each unit will consist of one common share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of C$0.15 per share for a period of two years.

Finder's fees may be payable on both private placements. The private placements and finder's fees are subject to regulatory approval. The proceeds from the private placements are for working capital and the advancement of the Company's projects in SE British Columbia.

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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