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

Duncastle Gold Corp.

September 14, 2010 12:22 ET

Duncastle Announces Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2010) - Duncastle Gold Corp. (TSX VENTURE:DUN)(FRANKFURT:5D3) reported today that it plans to issue up to 11 million common shares in two non-brokered private placements for total gross proceeds of C$690,000.

The Company plans to issue up to 7 million common shares in a non-brokered flow-through private placement at a price of C$0.07 per unit ("Flow-Through Unit") to raise C$490,000, and to issue up to 4 million common shares in a non-brokered non flow-through private placement at a price of C$0.05 per unit ("Non Flow-Through Unit") to raise C$200,000. Each Flow-Through Unit will consist of one flow-through common share and one-half share purchase warrant, with each whole share purchase warrant ("Warrant") exercisable to purchase one additional non-flow-through common share at an exercise price of C$0.10 per share for a period of two years. Each Non Flow-Through Unit will consist of one non-flow-through common share and one-half Warrant.

Finder's fees may be payable on both private placements. The private placements and finder's fees are subject to regulatory approval. Proceeds from the private placements will fund drilling and field work at the Porphyry Creek project in British Columbia, and for working capital.

On behalf of the Board of Directors,

Michael Rowley, 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.

Contact Information