Duncastle Closes Second Tranche of Private Placement

1100-1199 West Hastings Street, Vancouver, British Columbia, V6E 3T5

“A Manex Resource Group Company”

July 25, 2011 NR-10-11 Frankfurt: 5D3

Duncastle Closes Second Tranche of Private Placement

Duncastle Gold Corp. (DUN:TSX.V) is pleased to announce that it has closed the second tranche of its previously announced non-brokered unit private placement by issuing 900,000 units at a price of $0.05 per unit to raise $45,000. 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.

Securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder’s warrants issued as finder’s fees, carry a legend restricting trading of the securities until November 26, 2011. The private placement and finder’s fees are subject to regulatory approval. Proceeds from the private placement will be used for general working capital.

On behalf of the Board of Directors, “Michael Rowley”

Michael Rowley President, Director, Duncastle Gold Corp.

For further information, please visit Duncastle Gold Corp’s website at duncastlegoldcorp.com or contact Michael Rowley at 1.888.456.1112 or 604.641.2742 or by email at [email protected] or Liana Shahinian at 1.888.456.1112 or 604.641.2773 or by email at [email protected].

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.