VANCOUVER, BRITISH COLUMBIA--(Marketwire - 08/18/09) - Duncastle Gold Corp. (TSX-V:DUN - News)(Frankfurt:5D3 - News) reported that it has now closed its previously announced (August 6/09) non-brokered unit private placement for gross proceeds of C$135,000. The private placement was fully subscribed and consisted of 1.5 million units at a price of C$0.09 per unit. Each unit issued was comprised of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at an exercise price of C$0.15 per share for a period of two years.

The common shares and share purchase warrants issued pursuant to this private placement carry a legend restricting trading of the securities until December 19, 2009.

The company also reported that the previously announced (August 6/09) non-brokered flow-through private placement of up to 3.5 million units at a price of C$0.11 per unit has been fully subscribed and is expected to close later this week.

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.

 
Contacts:
Duncastle Gold Corp.
Jay Oness
1.888.456.1112 or 604.641.2771
corpdev@mnxltd.com
www.duncastlegoldcorp.com