Duncastle Gold Corp.

Duncastle Gold Corp.

October 18, 2010 12:59 ET

Duncastle Oversubscribes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2010) - Duncastle Gold Corp. (TSX VENTURE:DUN)(FRANKFURT:5D3) reported today that the non-flow-through unit financing announced September 14, 2010 has been oversubscribed, and the company will now issue a total of 8 million common shares and 4 million share purchase warrants which are exercisable to purchase 4 million common shares for a period of two years from the date of closing at a price of $0.10 per common share purchased.

Gross proceeds from the financing are $400,000. The company expects to close shortly its previously announced flow through unit financing to raise gross proceeds of up to $490,000.

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.

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