DUN

Duncastle Gold Corp. ("Duncastle") (TSX VENTURE:DUN)(FRANKFURT:5D3) is pleased
to announce that it has closed a tranche of its previously announced
non-brokered private placements for gross proceeds of $412,500.


Unit Private Placement

Duncastle closed the first tranche of its unit private placement by issuing
4,290,000 units ("Units") at a price of $0.05 per Unit to raise $214,500. Each
Unit consists of one common share and one share purchase warrant, with each
share purchase warrant exercisable to purchase one additional common share at an
exercise price of $0.10 per share for a period of two years.


Flow-Through Private Placement

Duncastle closed the second tranche of its flow-through private placement by
issuing 3,300,000 flow-through units ("Flow-Through Units") at a price of $0.06
per Flow-Through Unit to raise $198,000. Each Flow-Through Unit consists of one
flow-through common share and one-half share purchase warrant, with each whole
share purchase warrant exercisable to purchase one non-flow-through common share
at an exercise price of $0.10 per share for a period of two years. Together with
the first tranche closing on June 8, 2011, Duncastle has raised an aggregate
$798,000 in this flow-through private placement. 


Securities issued pursuant to this tranche of the private placements, including
common shares, share purchase warrants and finder's warrants issued as finder's
fees, carry a legend restricting trading of the securities until October 30,
2011. The private placements and finder's fees are subject to regulatory
approval. 


Proceeds from the private placements will be used to fund upcoming exploration
work at the Porphyry Creek project in Northwest British Columbia including
reconnaissance geological, ground geophysics, and potential drill programs, as
well as for general working capital.


On behalf of the Board of Directors,

Michael Rowley, President, Director, Duncastle Gold Corp.

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