Duncastle Oversubscribes Private Placement

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

“A Manex Resource Group Company”

October 18, 2010 DUN-TSX.V NR-19-10 5D3-Frankfurt

Duncastle Oversubscribes Private Placement

Duncastle Gold Corp. (TSX.V: DUN) reported today that the non-flow-through unit financing announced September 14, 2010 has been oversubscribed, and the company will now issue a total of 8 million common shares and 4 million share purchase warrants which are exercisable to purchase 4 million common shares for a period of two years from the date of closing at a price of $0.10 per common share purchased.

Gross proceeds from the financing are $400,000. The company expects to close shortly its previously announced flow through unit financing to raise gross proceeds of up to $490,000.

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

Michael Rowley President, Director, Duncastle Gold Corp.

For further information, please visit the company’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.