Duncastle Announces Amendment to Yankee-Dundee Property Agreement
25 February 2010 - 5:36AM
Marketwired
Duncastle Gold Corp. (the "Company") (TSX VENTURE: DUN)(FRANKFURT:
5D3) reported today that it has amended the underlying property
Agreement on its Yankee-Dundee Mine project 3km from Ymir BC in the
Nelson Mining District of Southeast BC.
The amendment revises the processing requirement to 10,000
tonnes from 15,000 tonnes as originally agreed. This facilitates
permitting of a bulk sample from the historic mine in compliance
with BC exploration regulations. The amendment allows the sample to
be milled at a facility mutually selected by the parties.
The amendment also changes the timing of a $20,000 cash payment
due March 31, 2010 to two $10,000 payments, one paid February 15,
2010, and the balance on June 30, 2010.
The Company also announces that it has granted 200,000 incentive
stock options at an exercise price of $0.12 per share for a period
of five years to a Director and Officer in accordance with the
Stock Option Plan. The granting of the stock options is subject to
regulatory approval.
About Duncastle Gold
Duncastle Gold Corp. is a Vancouver based gold exploration
company with mineral claims covering or surrounding past producers
in two historic BC districts. In Southeast BC Duncastle is
targeting high-grade gold-silver-lead-zinc veins at the former
Yankee-Dundee mine, 50km from the smelter at Trail BC. In Northwest
BC the Company's holdings cover a 10 km long magnetic anomaly,
previous workings, and high- grade veins at its Porphyry Creek
project. Now covering more than 150 sq km, Duncastle has assembled
contiguous claim blocks in each of these two productive regions for
gold exploration.
As part of the Manex Resource Group, Duncastle benefits from
shared expertise in corporate finance, public company
administration, investor relations, and technical and geological
services provided for six public companies. Since its formation in
1997, the companies within the Manex Group have raised over C$250
million in exploration financing.
On behalf of the Board of Directors,
Victor J E Jones, President, Director, Duncastle Gold Corp.
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. Jeff Stuart 1.888.456.1112 or
604.641.2771 jstuart@mnxltd.com Duncastle Gold Corp. Liana
Shahinian 1.888.456.1112 or 604.641.2771
www.duncastlegoldcorp.com
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