Duncan Park Holdings Corporation Update on 2004 Drilling Program on its Elephant Property, Nevada.

TORONTO -- Duncan Park Holdings Corporation (TSX VENTURE:DPH) announces that five reverse circulation holes have been completed and one core wedge-off hole is currently being drilled as part of its work program on the Elephant project in the prospective Battle Mountain-Cortez-Eureka Trend. This drilling has resulted in the discovery of a gold-mineralized skarn body in the Paleozoic Battle Conglomerate in the Peninsula target area.

Elephant project: Peninsula target area:

Duncan Park successfully drilled three vertical reverse-circulation drill holes across a large induced polarization ("IP")-chargeability anomaly at Peninsula. Drillhole PE-3 encountered 109.8 metres of sulfidic skarn mineralization between depths of 110 to 232 metres. At least three layers of skarn mineralization occur within this interval. The best gold intercept was 1.848 g/ton Au between 201.2 - 204.27 metres. This interval also contained highly elevated contents of silver, zinc, copper, bismuth, and lead. A second interval between 213.4 - 219.5 metres contained highly elevated levels of tungsten of up to 1,230 ppm W, and to 249 ppm cobalt. A third, skarnified layer between 323.2 - 324.7 metres contained 0.97 g/ton Au in cherty strata of the Scott Canyon Formation.

Holes PE-4 and PE-5 formed a fence to the southwest of PE-3, across the large chargeability anomaly defined by the IP survey. No significant zones of gold mineralization were found in these holes, nor was the source of the IP anomaly found. A locally sulfidic laccolith intrusive of quartz-eye porphyry of the Caetano Tuff underlies the skarns, and this may have been the source of the IP anomaly.

The gold skarn intersected by hole PE-3 has not yet been followed up by subsequent drilling. It lies south of similar gold skarn mineralization defined by drilling at Peninsula by Newmont, which also failed to find the source granitic intrusive or a large, main body of skarn. The area to the south and southeast of PE-3 is the only part of the Newmont-Duncan Park target area that has never been tested by drilling. Duncan Park intends to conduct a Phase 2 drilling program in this prospective area, in search of a larger, Fortitude-size skarn gold deposit. Duncan Park did not test for extensions of the Peninsula debris flow hosted gold deposit during this first phase of drilling.

Elephant project: Porphyry target area:

Duncan Park is currently drilling a HQ diameter core hole, wedged off from hole P-2. A previously undiscovered thick debris flow unit occurs in this hole beneath part of the Caetano Tuff. Clasts of mineralized basement rocks are present within these debris flow sediments. Duncan Park will sample and assay this debris flow unit, in search of another debris flow hosted gold deposit similar to that defined by Newmont at Peninsula.

These data herein and the contents of this press release have been reviewed by Richard R. Redfern, CPG, a geologist and assistant secretary of the Company's U.S. subsidiary, Duncan Park Holdings Nevada Ltd., who is designated as the qualified person with the ability and authority to verify the authenticity and validity of these data.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.