Clarification with Respect to Updated Mineral Resource Estimate Confirming Large Increases to Twin Metals Contained Metal, Grade

  Clarification with Respect to Updated Mineral Resource Estimate Confirming
 Large Increases to Twin Metals Contained Metal, Grade and Indicated Tonnage

  PR Newswire

  TORONTO, December 6, 2012

TORONTO, December 6, 2012 /PRNewswire/ --

Duluth Metals Limited (" Duluth Metals ") (TSX: DM) (TSX: DM.U) references its
press release of December 4, 2012 on the consolidated mineral resources for
the Twin Metals Minnesota Project deposit prepared by AMEC E&C Services
Inc.The study reported that contained metals (using a 0.3% Cu cut-off) of
13.7 billion lbs copper, 4.4 billion lbs nickel, and 21.2 million ozs
palladium+platinum+gold (TPM) in the Indicated category and 11.8 billion lbs
copper, 4.0 billion lbs nickel, and 12.8 million ozs TPM in the Inferred
category, representing an average 19% increase from the June 2012 interim AMEC

Duluth Metals wishes to clarify the statement made with respect to the
Inferred Mineral Resource of 1.26 billion tons on the Birch Lake, Maturi and
Spruce Road deposits as representing "a 9% increase in Inferred Tons" from the
June 2012 interim AMEC Report.While the Indicated Mineral Resource Tons did
indeed increase by approximately 60%, the statement with respect to Inferred
Tons should have read "an 8% decrease in Inferred Tons from the June 2012
interim report".

About Duluth Metals Limited

Duluth Metals 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.

About Twin Metals Minnesota LLC

Twin Metals Minnesota, LLC, is a joint venture company, 60 percent owned by
Duluth Metals Limited and 40 percent by Antofagasta plc. Twin Metals was
formed in 2010 to pursue the development and operation of a copper, nickel and
platinum group metals (strategic metals) underground mining project within the
Duluth Complex in northeastern Minnesota. Twin Metals holds mineral and land
assets of approximately 32,000 acres of leased and permitted land, including
mineral resources prepared in compliance with the requirements of NI 43-101.

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.

Cautionary Note to United States Investors Concerning Estimates of Indicated
and Inferred Mineral Resources: This press release uses the terms "Indicated
Mineral Resources" and "Inferred Mineral Resources" in accordance with the
Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition
Standards. While such terms are recognized under Canadian securities
legislation, the United States Securities and Exchange Commission does not
recognize these terms. The term "Inferred Mineral Resource" refers to a
mineral resource for which quantity and grade or quality can be estimated on
the basis of geological evidence and limited sampling and reasonably assumed,
but not verified, geological and grade continuity. These estimates are based
on limited information and it cannot be assumed that all or any part of an
"Inferred Mineral Resource" will be upgraded to a higher classification
resource, such as "Indicated" or "Measured", as a result of continued
exploration. Accordingly, an estimate relating to an "Inferred Mineral
Resource" is insufficient to allow meaningful application of technical and
economic parameters or to enable an evaluation of economic viability. Under
Canadian securities legislation, estimates of an "Inferred Mineral Resource"
may not form the basis of feasibility or other economic studies. Investors are
cautioned not to assume that all or any part of an "Inferred Mineral Resource"
is economically or legally mineable. Investors are also cautioned not to
assume that all or any part of "Indicated" will ever be converted into
"Mineral Reserves" (being the economically mineable part of an "Indicated" or
"Measured Mineral Resource").


For further information:Mara Strazdins Vice President Investor Relations and
Corporate Communications Telephone: +1(416)369-1500 ext. 222 Email: Vern Baker President Telephone: +1(651)389-9990
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