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, November 26, 2012

TORONTO, November 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 http://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.

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

For further information:Mara Strazdins Vice President Investor Relations and
Corporate Communications Telephone: +1(416)369-1500 ext. 222 Email:
mstrazdins@duluthmetals.com Vern Baker President Telephone: +1(651)389-9990
Email: vbaker@duluthmetals.com Webpage:  http://www.duluthmetals.com
 
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