TORONTO, ONTARIO -- (Marketwire) -- 03/21/12 -- Duncan Park Holdings Corporation (TSX VENTURE: DPH)(OTCQX: DCNPF) announced today that the winter drilling program on its Red Lake properties has concluded early because of unseasonably warm weather and deteriorating ice conditions.
Notwithstanding the weather, the Company was able to complete four of six planned drill holes, with two holes drilled on each of the Dome and McManus properties. The Company expects to receive assay results and the project geologist's analysis over the next month and will report the results and plans for a summer drilling program to follow-up on the previously reported mineralized zone identified by the 2011 drilling program on the land-based patented claims on the McManus property (see news release dated November 14, 2011).
The cost of the Dome property drilling is expected to result in the Company completing the earn-in expenditure requirements on the Dome property.
The Company also announces that it no longer intends to proceed, at this time, with the previously announced non-brokered private placement of up to $500,000 of flow-through common shares.
About Duncan Park
Duncan Park is a Toronto-based mineral exploration company exploring for gold and other precious metals in Ontario's prolific Red Lake gold mining district. The Company is party to earn-in option agreements with respect to the contiguous Dome and McManus claim groups.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to Duncan Park's exploration plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Duncan Park to be materially different from those expressed or implied by such forward-looking information, including risks related to exploration plans and option and joint venture arrangements as well as risks associated with the exploration, development and mining industry such as economic factors, future commodity prices, changes in foreign exchange and interest rates, government regulation, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with exploration and development activities, availability of skilled labour and equipment, the speculative nature of gold exploration and development, market conditions, access to financing, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Duncan Park's management's discussion and analysis for the year ended November 30, 2011, available on www.sedar.com. Although Duncan Park has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Duncan Park does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.