I assume you're not attempting to lauch multiple instances of the game at a time. This sounds like memory is not being returned to the OS after your game shuts down. One simple way to determine if you have a leak is:
- Restart the device
- Check the memory usage
- Start your game, play it for a few minutes
- Close the game
- Wait a few minutes, then check the memory usage again
If you can get a few launches in before you run out of memory, you have a small leak. If you can only launch once before restarting the device, you have a BIG one. Garbage collection will only go so far. If you are making any calls to unmanaged code (Win32 or PInvoke calls that instantiate unmanaged objects,) then you need to be sure to release those resources when your game shuts down.