Duncastle Gold Notifies Warrant Holders to Purchase Common Shares
27 August 2009 - 5:28AM
Marketwired
Duncastle Gold Corp. ("the Company") (TSX VENTURE: DUN)(FRANKFURT:
5D3) today announced it has given notice to the holders ("Holders")
of non-transferable common share purchase warrants of the Company
dated November 27, 2007 and amended on April 30, 2009 of the
acceleration of the expiry date of the warrants to October 1, 2009
(the "Warrants"). The original warrant exercise price of $0.30 per
share was amended to $0.10 per share.
Notice to Holders of Warrants dated April 30, 2009 provides that
in the event that the closing price of the Company's common shares
on the TSX Venture Exchange is $0.135 or more for ten consecutive
trading days (the tenth such trading day being the
"Determination"), the expiry date of the Warrants will be
accelerated to the thirty seventh calendar day following the
Determination (the "Accelerated Expiry Date"). The Company will
forthwith on the Determination immediately notify the Holder of
Warrants of the Accelerated Expiry Date. All Warrants not exercised
by the expiration of the Accelerated Expiry Date shall be deemed
cancelled without further notice to the Holder.
The Company's shares have traded at a closing price of $0.14 or
more per share for a period of ten consecutive trading days for the
period beginning August 12, 2009 and ending ten consecutive trading
days thereafter, namely August 25, 2009. Notice has been given that
the Company accelerates the date upon which the Warrants will
expire from May 27, 2010 to October 1, 2009 after which time the
Warrants will be void and of no value.
About Duncastle Gold
Duncastle Gold Corp. is a mineral exploration company based in
British Columbia, Canada with projects in both central and
southeastern BC. The Yankee Dundee project comprises 26 crown
grants under a 100% option agreement and 95 tenured mineral claims
totaling approximately 5,987 hectares in the Nelson Mining
District, located three kilometres northeast of the town of Ymir in
southeastern British Columbia. Gold mineralization was first
reported near Ymir in the late 1800s, with much of the mining
taking place at the Yankee Girl, Dundee and Ymir mines during the
period 1907 to 1951. Historical records indicate that a total of
375,000 tonnes grading 9.9g/t Au and 57g/t Ag were mined from the
Yankee Girl vein during this time. Exploration by the company is
targeting high-grade Au-quartz veins throughout the Ymir district
which historically, together with the adjacent Sheep Creek district
is reported to have produced more than one million ounces of
gold(1). The Ymir camp was the largest silver producer in the
British Commonwealth in the 1930s (BC MEMPR Bulliten 109, 2001). In
central B.C. the company has the 8,641 hectare Porphyry Creek
property in the Rocher Deboule Mountains near Smithers, with a
porphyry or IOCG copper-gold target. Duncastle Gold Corp is a Manex
Resource Group company.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for
reviewing the technical results reported in this release.
On behalf of the Board of Directors,
Lawrence Page, Q.C., President, Director, Duncastle Gold
Corp.
(1) Production data was obtained from historical government
records and has not been independently verified by the current
operators of the project.
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements. Duncastle Gold Corp. relies upon
litigation protection for forward looking statements.
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.
Contacts: Duncastle Gold Corp. Jay Oness 1.888.456.1112 or
604.641.2771 corpdev@mnxltd.com www.duncastlegoldcorp.com
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