Duncastle Gold Corp.

Duncastle Gold Corp.

August 26, 2009 15:28 ET

Duncastle Gold Notifies Warrant Holders to Purchase Common Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2009) - Duncastle Gold Corp. ("the Company") (TSX VENTURE:DUN)(FRANKFURT:5D3) today announced it has given notice to the holders ("Holders") of non-transferable common share purchase warrants of the Company dated November 27, 2007 and amended on April 30, 2009 of the acceleration of the expiry date of the warrants to October 1, 2009 (the "Warrants"). The original warrant exercise price of $0.30 per share was amended to $0.10 per share.

Notice to Holders of Warrants dated April 30, 2009 provides that in the event that the closing price of the Company's common shares on the TSX Venture Exchange is $0.135 or more for ten consecutive trading days (the tenth such trading day being the "Determination"), the expiry date of the Warrants will be accelerated to the thirty seventh calendar day following the Determination (the "Accelerated Expiry Date"). The Company will forthwith on the Determination immediately notify the Holder of Warrants of the Accelerated Expiry Date. All Warrants not exercised by the expiration of the Accelerated Expiry Date shall be deemed cancelled without further notice to the Holder.

The Company's shares have traded at a closing price of $0.14 or more per share for a period of ten consecutive trading days for the period beginning August 12, 2009 and ending ten consecutive trading days thereafter, namely August 25, 2009. Notice has been given that the Company accelerates the date upon which the Warrants will expire from May 27, 2010 to October 1, 2009 after which time the Warrants will be void and of no value.

About Duncastle Gold

Duncastle Gold Corp. is a mineral exploration company based in British Columbia, Canada with projects in both central and southeastern BC. The Yankee Dundee project comprises 26 crown grants under a 100% option agreement and 95 tenured mineral claims totaling approximately 5,987 hectares in the Nelson Mining District, located three kilometres northeast of the town of Ymir in southeastern British Columbia. Gold mineralization was first reported near Ymir in the late 1800s, with much of the mining taking place at the Yankee Girl, Dundee and Ymir mines during the period 1907 to 1951. Historical records indicate that a total of 375,000 tonnes grading 9.9g/t Au and 57g/t Ag were mined from the Yankee Girl vein during this time. Exploration by the company is targeting high-grade Au-quartz veins throughout the Ymir district which historically, together with the adjacent Sheep Creek district is reported to have produced more than one million ounces of gold(1). The Ymir camp was the largest silver producer in the British Commonwealth in the 1930s (BC MEMPR Bulliten 109, 2001). In central B.C. the company has the 8,641 hectare Porphyry Creek property in the Rocher Deboule Mountains near Smithers, with a porphyry or IOCG copper-gold target. Duncastle Gold Corp is a Manex Resource Group company.

Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director, Duncastle Gold Corp.

(1) Production data was obtained from historical government records and has not been independently verified by the current operators of the project.

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Duncastle Gold Corp. relies upon litigation protection for forward looking statements.

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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