Duncastle Announces Private Placements

Duncastle Gold Corp. (TSX VENTURE:DUN)(FRANKFURT:5D3) reported today that it
plans to issue up to 23.5 million units in two non-brokered private placements
for total gross proceeds of C$1,310,000.


The company plans to issue up to 13.5 million units in a non-brokered
flow-through private placement at a price of C$0.06 per unit ("Flow-Through
Unit") to raise C$810,000, and to issue up to 10 million units 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$500,000. 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 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.