Duncastle Gold Corp. (“Duncastle” or the “Company”) (DUN:TSX.V) has signed a binding Letter of Intent (the “LOI”) with Ashburton Ventures Inc. (“Ashburton”) (ABR.TSX.V) and Denali Resources Ltd. (“Denali”) to acquire a 100% interest in three PGM-Ni-Cu mineral properties located in the southwestern Yukon. The Spy, Ultra and Catalyst/CKR properties total over 262 square kilometers in the Kluane Ultramafic Belt, a 600km-long sequence of igneous and sedimentary rocks extending from northern British Columbia through the Yukon and into Alaska. Within the belt, mineralization occurs at the contact between ultramafic and sedimentary rocks, with the most notable being the Wellgreen deposit. Wellgreen Platinum Ltd. is currently completing a prefeasibility study at the Wellgreen deposit and has previously reported an Indicated Resource of 14.4 Mt at 0.68% Ni, 0.62% Cu, with 2.23 g/t Pt+Pd+Au grade, and an Inferred Resource of 446.6 Mt at 0.31% Ni, 0.25% Cu, with 0.87 g/t Pt+Pd+Au grade at a 0.22% NiEq cut-off (see Wellgreen Platinum Ltd. news release, June 18, 2012).