Duluth Metals announces mobilization of a fourth drill rig on exploration properties

  Duluth Metals announces mobilization of a fourth drill rig on exploration
                                  properties

PR Newswire

TORONTO, Nov. 26, 2012

TORONTO, Nov. 26, 2012 /PRNewswire/ - Duluth Metals Limited ("Duluth  Metals", 
"Company") (TSX: DM) (TSX:DM.U) is pleased to announce that a fourth drill rig
has been mobilized on Duluth Metals  100% owned exploration properties in  the 
Duluth Complex,  north-east Minnesota.  This fourth  drill rig  is  currently 
positioned on the northern part of the East Shore property.

"Having several  good targets  south of  the Nickel  Lake Macrodike,  we  have 
decided to mobilize  a fourth  rig allowing  us to  target two  drills on  the 
south-east side of  the contact."  commented Vern Baker,  President of  Duluth 
Metals. "Our  geological  team  is aggressively  working  on  the  exploration 
properties with four rigs."

The primary exploration focus on the Nor'East and East Shore Properties is for
copper-nickel-PGM mineralization,  similar  to  other known  deposits  in  the 
Duluth Complex, (e.g., the Maturi Deposit and the deep portions of the  Mesaba 
Deposit). The Nor'East property is situated at the junction of the Nickel Lake
Macrodike and the South Kawishiwi Intrusion and represents a prime target area
for Duluth Metals.  Geological modeling  indicates that the  property has  the 
potential to host  a "Voisey's  Bay" type  massive sulfide  target. The  three 
initial drilling target areas are:

  *Target Area 1 - The Nickel Lake Macrodike area
  *Target Area 2 - Two miles south of the Nickel Lake Macrodike
  *Target Area 3 - The Harris Lake/Heart Lake area approximately four miles S
    of the Nickel Lake Macrodike.

A map showing the drill rig locations  (Figure 1) can be found on the  Company 
website at www.duluthmetals.com under this press release.

The primary exploration focus on the Nor'East and East Shore Properties is for
copper-nickel-PGM mineralization,  similar  to  other known  deposits  in  the 
Duluth Complex, (e.g., the Maturi Deposit). TheNor'East property is situated
at the junction of the Nickel Lake Macrodike and the South Kawishiwi Intrusion
and is a prime target area  for Duluth Metals. Geological modeling  indicates 
that the  property has  the potential  to host  "Voisey's Bay"-type  Ni-Cu-PGM 
massive sulfide mineralization.

About Duluth Metals Limited

Duluth Metals  Limited is  committed to  acquiring, exploring  and  developing 
copper, nickel and platinum  group metal (PGM) deposits.  Duluth Metals has  a 
joint venture with Antofagasta plc on the Twin Metals Project, located  within 
the rapidly emerging  Duluth Complex mining  camp in north-eastern  Minnesota. 
The Duluth Complex hosts one  of the world's largest undeveloped  repositories 
of copper, nickel and PGMs,  including the world's third largest  accumulation 
of  nickel  sulphides,  and  one  of  the  world's  largest  accumulations  of 
polymetallic copper and platinum group  metals. Aside from the joint  venture, 
Duluth Metals retains a 100% position on approximately 40,000 acres of mineral
interests on exploration  properties adjacent  to and nearby  the Twin  Metals 
Minnesota LLC joint venture.

This   press   release   contains   forward-looking   statements    (including 
"forward-looking  information"  within  the  meaning  of  applicable  Canadian 
securities legislation and "forward-looking statements" within the meaning  of 
the US Private Securities  Litigation Reform Act of  1995) relating to,  among 
other things,  the  results  of  drilling  operations  of  Duluth  Metals  and 
exploration and mine development.  Generally, forward-looking statements  can 
be identified by  the use of  words 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  statements that  certain  actions, 
events or results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved".  Duluth Metals has  relied on a  number of assumptions  and 
estimates  in  making  such  forward-looking  statements,  including,  without 
limitation, the prices of copper, nickel and platinum group metals (PGMs)  and 
the costs associated with continuing exploration and mining development. Such
assumptions and estimates are made in light of the trends and conditions  that 
are considered to be  relevant and reasonable  based on information  available 
and the circumstances  existing at  this time. A  number of  risk factors  may 
cause actual  results, level  of  activity, performance  or outcomes  of  such 
exploration and/or  mine development  to be  materially different  from  those 
expressed or  implied by  such forward-looking  statements including,  without 
limitation, whether  such  discoveries  will  result  in  commercially  viable 
quantities of  such  mineralized  materials, the  possibility  of  changes  to 
project parameters as  plans continue to  be refined, the  ability to  execute 
planned exploration  and  future  drilling programs,  possible  variations  of 
copper, nickel  and PGM  grade  or recovery  rates,  the need  for  additional 
funding to continue exploration efforts,  changes in general economic,  market 
and business conditions,  and those other  risks set forth  in Duluth  Metals' 
most recent annual information  form under the heading  "Risk Factors" and  in 
its other public  filings. Statements related  to "reserves" and  "resources" 
are deemed forward-looking statements as they involve the implied  assessment, 
based  on  realistically  assumed  and  justifiable  technical  and   economic 
conditions, that  an  inventory  of mineralization  will  become  economically 
extractable.  Forward-looking  statements  are   not  guarantees  of   future 
performance and such information  is inherently subject  to known and  unknown 
risks, uncertainties and other factors that  are difficult to predict and  may 
be beyond the control of Duluth Metals. Although Duluth Metals has  attempted 
to identify  important risks  and  factors that  could cause  actual  actions, 
events or results to differ materially from those described in forward-looking
statements, there may be other factors and risks that cause actions, events or
results not to be as anticipated, estimated or intended. Consequently,  undue 
reliance should not be placed on such forward-looking statements. In addition,
all forward-looking statements in this press release are given as of the  date 
hereof. Duluth  Metals disclaims  any intention  or obligation  to update  or 
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, save and  except as may be required by  applicable 
securities  laws.  The  forward-looking   statements  contained  herein   are 
expressly qualified by this disclaimer.

SOURCE Duluth Metals Limited

Image with caption: "Figure 1: Drill Rig Locations (CNW Group/Duluth Metals
Limited)". Image available at:
http://photos.newswire.ca/images/download/20121126_C3334_PHOTO_EN_21161.jpg

Contact:

Mara Strazdins
Vice President Investor Relations and Corporate Communications
Telephone: (416) 369-1500 ext. 222
Email:mstrazdins@duluthmetals.com

Vern Baker
President
Telephone: (651) 389-9990
Email:vbaker@duluthmetals.com

Webpage:www.duluthmetals.com