VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2011) - Duncastle Gold Corp. (News - Market indicators)(FRANKFURT:5D3) is pleased to announce that it has closed the first tranche of its previously announced non-brokered flow-through private placement by issuing 10,000,000 units ("Flow-Through Units") for gross proceeds of $600,000. 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. 

Proceeds from the private placement will fund drilling and field work at the Porphyry Creek project in British Columbia. All securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder's options issued as finder's fees, carry a legend restricting trading of the securities until October 9, 2011. The private placement and finder's fees are subject to regulatory approval.

On behalf of the Board of Directors,

Michael Rowley, President, Director, Duncastle Gold Corp.