Duluth Metals Announces SEDAR filing of AMEC Technical Report on the Twin Metals Project

  Duluth Metals Announces SEDAR filing of AMEC Technical Report on the Twin
                                Metals Project

PR Newswire

TORONTO, Jan. 21, 2013

TORONTO, Jan. 21, 2013 /PRNewswire/ - Duluth Metals Limited ("Duluth" or
"Duluth Metals") (TSX: DM) (TSX:DM.U) today announces that the independent NI
43-101 Technical Report completed by AMEC E&C Services Inc. (AMEC) by a team
led by Dr. Harry Parker entitled "Maturi, Birch Lake, and Spruce Road
Cu-Ni-PGE Projects, Ely, Minnesota, USA, NI 43-101 Technical Report" with an
effective date of 15 September 2012 has now been filed on SEDAR
(www.sedar.com). This final study utilizes 867 drill holes and 308 wedge
offsets to confirm the Twin Metals Minnesota LLC ("TMM" or "Twin Metals")
project to be one of the largest base and precious metal deposits of this type
in the world. The report also highlights the significance of the higher grade
S3 subunit for potential early mine sequencing. In addition, the PGM resource
estimate confirms the project to be one of the largest palladium and platinum
resources outside of South Africa. This filing follows the press release of
December 4, 2012 which referenced the summary highlights of the new resource
estimate:

  *Amongst the world's largest Cu-Ni-PGM polymetallic sulphide deposits with
    contained metals (using a 0.3% Cu cut-off) of 13.6 billion lbs copper, 4.4
    billion lbs nickel, and 21.4 million ozs palladium+platinum+gold (TPM)^1
    in the Indicated category and 11.9 billion lbs copper, 4.1 billion lbs
    nickel, and 12.8 million ozs TPM^1 in the Inferred category, representing
    an average 19% increase from the June 2012 interim AMEC Report.
  *Using a base case 0.3% Cu cut-off, AMEC estimated an Indicated Mineral
    Resource of 1.16 billion tons^2 and an Inferred Mineral Resource of 1.26
    billion tons on the three deposits (Birch Lake, Maturi and Spruce Road)
    occurring on approximately 11% of the footprint of the prospective portion
    of the TMM property block, representing a 60% increase in Indicated Tons
    and an 8% decrease in Inferred Tons from the June 2012 interim report.
  *The S3 Subunit (which is a subset of the base case mineral resource
    estimate for the Maturi Deposit) using a higher 0.5% Cu cut-off contains
    622 million tons in the Indicated category and 198 million tons in the
    Inferred category. This material may have potential to provide
    higher-grade mill feed for the early stages of any planned mining
    operation.
  *Exploration Target areas include additional potential resources of between
    1.4 and 2.2 billion tons contiguous to the boundaries of the three
    deposits. These Exploration Target areas occur on approximately 12% of the
    footprint of the prospective portion of the TMM property block.
  *The AMEC updated mineral resource estimate highlights a growing Platinum
    Group Metal (PGM) and gold resource of 21.4 million ozs Indicated and 12.8
    million ozs Inferred in the Maturi and Birch Lake deposits. A decline of
    3.0 million ozs contained in the Inferred Resource from the June 2012
    interim report is offset by a 9.1 million ozs (75%) increase in the
    Indicated Resource. The TMM project has one of the world's largest
    palladium and platinum resources outside of South Africa.

Figure 1 below shows copper values expressed in percent ranging from less than
0.2% Cu (blue)  to greater than  0.8% Cu (red)  in the S2+S3  subunits of  the 
Maturi Deposit from an  oblique south view. Drill  holes are projected as  the 
light blue strings and the green outline is the limit of the block model.  The 
grey surface represents the base of the Basal Mineralized Zone.

_________________________________
^1 Values for the  Pt, Pd and Au  components of TPM are  shown in Table 3  and 
Table 4.
^2 All tonnages are reported as short tons.

Vern Baker, President of Duluth Metals, commenting on the report stated:  "The 
AMEC Technical  Report confirms  the TMM  resource to  be one  of the  largest 
deposits of its kind in  the world. While the resource  is very large, the  S3 
Subunit within the Maturi Deposit hosts  a higher-grade area that is a  subset 
of the  base case  mineral  resource estimate.  Mine  planning will  focus  on 
utilizing this higher  grade areas  for initial  mine sequencing,  potentially 
improving the business/ economic model significantly."

The Technical Report includes three deposits for which mineral resources  have 
been estimated. These deposits are in  close proximity to one another  within 
the Twin Metals Minnesota  Project, and are referred  to as the Maturi,  Birch 
Lake and Spruce Road Deposits:

  *Using a base case 0.3% Cu cut-off, the Maturi Deposit** contains 1065
    million tons of Indicated Mineral Resources grading 0.59% copper, 0.19%
    nickel, 0.60 parts per million TPM (TPM = Pt + Pd + Au), plus an
    additional 542 million tons of Inferred Mineral Resources grading 0.51%
    copper, 0.17% nickel, 0.53 parts per million TPM. (Maturi Deposit tonnages
    do not include 139 million tons of mineralized material excluded from the
    underground resource in a safety pillar)
  *Using a base case 0.3% Cu cut-off, the Birch Lake Deposit** contains 99.7
    million tons of Indicated Mineral Resources grading 0.52% copper, 0.16%
    nickel, 0.86 parts per million TPM, plus an additional 239.2 million tons
    of Inferred Mineral Resources grading 0.46% copper, 0.15% nickel, 0.64
    parts per million TPM
  *Using a base case 0.3% Cu cut-off, the Spruce Road Deposit** contains 480
    million tons of Inferred Mineral Resources grading 0.43% copper, 0.16%
    nickel.*

* Note - The Spruce Road resource was estimated using Inco legacy assay data.
Platinum, palladium, and gold were not assayed by Inco, and the core is not
available for re-assay.

** Note  - These  mineral resource  estimates include  100% of  the  estimated 
resource in each deposit, and include mineral resources acquired as a part  of 
TMM's acquisition  of  Franconia  Minerals Corporation  in  2011.  Franconia's 
principal assets are a 70% interest in the Birch Lake, 'old' Maturi and Spruce
Road deposits in northeastern Minnesota through the Birch Lake Joint  Venture. 
Franconia announced in November, 2010 its intention to increase its  ownership 
at the Birch  Lake Joint Venture  to 82%; see  Franconia's company profile  at 
www.SEDAR.com for Technical Reports. TMM's  ownership of the resource will  be 
factored by these percentages where applicable.

The S3 Subunit Provides Potential Earlier Economic Mining Opportunities

The current Maturi Deposit resource estimate is based on a refined  geological 
model. One geological  subunit within  the Maturi  Deposit, known  as the  S3, 
hosts a higher-grade area that is a  subset of the base case mineral  resource 
estimate that may  have potential as  an early start-up  area. AMEC  estimated 
that the S3 Subunit in the Maturi  Deposit, using a 0.5% Cu cut-off,  contains 
622 million tons  grading 0.69% Cu,  0.22% Ni  and 0.76 ppm  TPM of  Indicated 
Mineral Resources and 198 million tons grading 0.65% Cu, 0.21% Ni and 0.82 ppm
TPM in the Inferred category. This material  is a higher grade sub-set of  the 
global resources estimated for Maturi. Within the Maturi Deposit, the bulk  of 
mineralization is hosted by two subunits of the Basal Mineralized Zone  (BMZ). 
The S2 and S3 subunits  are stratiform, with the  S3 subunit overlying the  S2 
subunit. Both subunits are laterally extensive, and are present over the  vast 
majority of the deposit footprint. Within the Indicated Mineral Resource areal
footprint, the S3  subunit ranges in  vertical thickness from  0 to 355  feet, 
averaging 108 feet thick (0 to 276  feet, average 91 feet true thickness)  and 
within the Indicated Mineral Resource  areal footprint, the S2 subunit  ranges 
in vertical thickness from 0  to 423 feet, averaging 72  feet thick (0 to  329 
feet, averaging 59  feet true thickness).  Table 1 shows  tabulation range  of 
sensitivity cases at different copper cut-off grades for the S3 Subunit of the
Maturi Deposit. The base case subset estimate  at a 0.3% Cu cut-off grade  for 
the unit is  shown in bold,  and the  0.5% Cu cut-off  grade sensitivity  case 
subset is indicated in italics.

Figure 2 below shows the TPM (platinum+palladium+gold) values expressed in ppm
ranging from less from less 0.3 ppm TPM (blue) to greater than 1.2 ppm TPM
(red) in the S3 subunit within the Maturi Deposit looking from an oblique
view from the south.  Drill holes are projected as the light blue strings and
the green outline is the limit of the block model. The grey surface represents
the base of the Basal Mineralized Zone.

Table 1 - MATURI DEPOSIT S3 SUBUNIT SENSITIVITY CASE INDICATED AND INFERRED
MINERAL RESOURCES

       
            Maturi Deposit- S3 Subunit
       Indicated Mineral Resource
Cu%     Million Cu   Ni   Pt   Pd   Au   TPM
cut-off Tons    %    %    ppm  ppm  ppm  ppm
0.2     643     0.68 0.22 0.20 0.45 0.11 0.75
0.3     643     0.68 0.22 0.20 0.45 0.11 0.75
0.4     641     0.68 0.22 0.20 0.45 0.11 0.75
0.5     622     0.69 0.22 0.20 0.45 0.11 0.76
0.6     500     0.72 0.23 0.21 0.47 0.11 0.78
0.7     265     0.78 0.25 0.22 0.51 0.12 0.85
       Inferred Mineral Resource
Cu%     Million Cu   Ni   Pt   Pd   Au   TPM
cut-off Tons    %    %    ppm  ppm  ppm  ppm
0.2     234     0.62 0.20 0.21 0.46 0.10 0.77
0.3     232     0.62 0.20 0.21 0.47 0.10 0.78
0.4     225     0.63 0.20 0.21 0.47 0.10 0.78
0.5     198     0.65 0.21 0.22 0.50 0.11 0.82
0.6     129     0.70 0.22 0.25 0.55 0.12 0.92
0.7     53      0.78 0.24 0.28 0.64 0.14 1.06

Contained metals in the new resources are shown in Table 2 below. The updated
AMEC resource statement highlights a  growing platinum group metals (PGM)  and 
gold resource  of  21.4 million  ozs.  Indicated  TPM and  12.8  million  ozs. 
Inferred TPM,  which is  one of  the world's  largest palladium  and  platinum 
resources outside of South Africa.

Table 2 - CONTAINED METALS IN THE TMM RESOURCE*

METAL     INDICATED RESOURCE INFERRED RESOURCE
Copper    13.6 Billion lbs.  11.9 Billion lbs.
Nickel    4.4 Billion lbs.   4.1 Billion lbs.
                           
Platinum  5.6 Million ozs.   3.5 Million ozs.**
Palladium 12.7 Million ozs.  7.6 Million ozs.**
Gold      3.1 Million ozs.   1.7 Million ozs.**
                           

* Note - Based on mineral resources estimated at base case 0.3% copper cut-off
grade.
** Note - Contained  ounces of platinum, palladium,  and gold in the  Inferred 
category do not include the Spruce Road deposit.

Updated Mineral Resources

Twin Metals Minnesota  LLC (sometimes  herein referred  to as  "TMM" or  "Twin 
Metals") is  the joint  venture  company between  Duluth Metals  Limited  (60% 
ownership interest) and  Antofagasta plc  (40% ownership  interest). In  2011, 
Twin Metals Minnesota LLC acquired Franconia Minerals Corporation. Franconia`s
principal assets  are a  70% interest  in the  Birch Lake,  "old Maturi"  (not 
including former Nokomis property) and Spruce Road deposits through the  Birch 
Lake Joint  Venture,  with Beaver  Bay  Resources owning  the  remaining  30%. 
Franconia announced in November, 2010 its intention to increase its  ownership 
at the Birch Lake Joint Venture to 82% upon commencement of production. All of
the forgoing Indicated and Inferred Mineral Resources, and Exploration  Target 
tonnages are expressed as a 100% ownership position.

The Mineral Resource estimate for  the Maturi deposit incorporates assay  data 
from 444 drill  holes and  154 wedge  off-set holes  totalling 1,328,000  feet 
drilled  on  the  Maturi  deposit  between  2006  and  2012,  in  addition  to 
information from 99  legacy holes also  in the geologic  data base. The  Birch 
Lake deposit resource estimate incorporates assay data from 97 drill holes and
146 wedge off-set holes totalling 297,000 feet drilled between 2000 and  2012, 
and information from an additional 17  legacy drill holes and 8 wedge  off-set 
holes. The Spruce Road deposit resource estimate incorporates assay data  from 
210 legacy holes. The  effective date of the  mineral resource estimate is  15 
September 2012.

Figure 3 below is a map showing the Indicated and Inferred boundaries and  the 
Exploration Target Areas which can be found  as part of this press release  on 
the Company website at www.duluthmetals.com.

The December 2012  Resource Estimates for  the Maturi, Birch  Lake and  Spruce 
Road deposits are based on a 0.3% copper cut-off grade to define the  resource 
model. Based on AMEC`s  review of metal  prices, process recoveries,  refining 
costs and underground mine operating costs likely to apply at the Twin  Metals 
site, the 0.3% copper cut-off grade (highlighted) is considered the base  case 
for the statement of  Indicated and Inferred Mineral  Resources at this  time. 
The estimates at the cut-off  grades higher and lower  than the base case  are 
provided to show sensitivity of the estimates to cut-off grade.

Detailed Resource Tabulations

Tables of the updated resource tons and grades for various cut-offs are  shown 
below for each deposit.  The base case (0.3%  Cu cut-off) is highlighted.  The 
remaining cases  are included  to show  the sensitivity  of the  estimates  to 
changes in cut-off grades:

Table 3 - MATURI DEPOSIT INDICATED AND INFERRED MINERAL RESOURCES (effective
date 15 September 2012)

       
                  Maturi Deposit^3
       Indicated Mineral Resource^4
Cu %    Million Cu   Ni   Pt   Pd   Au   TPM^5
cut-off Tons    %    %    ppm  ppm  ppm  ppm
0.2     1137    0.57 0.18 0.15 0.34 0.08 0.58
0.3     1065    0.59 0.19 0.16 0.36 0.09 0.60
0.4     936     0.63 0.20 0.17 0.38 0.09 0.64
0.5     739     0.67 0.21 0.19 0.42 0.10 0.70
0.6     538     0.72 0.23 0.20 0.45 0.11 0.76
       Inferred Mineral Resource
Cu %    Million Cu   Ni   Pt   Pd   Au   TPM
cut-off Tons    %    %    ppm  ppm  ppm  ppm
0.2     782     0.43 0.14 0.12 0.27 0.06 0.44
0.3     542     0.51 0.17 0.14 0.32 0.07 0.53
0.4     383     0.57 0.19 0.16 0.38 0.08 0.62
0.5     256     0.63 0.20 0.20 0.44 0.10 0.74
0.6     141     0.70 0.22 0.24 0.53 0.12 0.88
                                  

Table 4 - BIRCH LAKE DEPOSIT INDICATED AND INFERRED MINERAL RESOURCES
(effective date 15 September 2012)

       
                Birch Lake Deposit
       Indicated Mineral Resource
Cu %    Million Cu   Ni   Pt   Pd   Au   TPM
cut-off Tons    %    %    ppm  ppm  ppm  ppm
0.2     111.9   0.49 0.15 0.22 0.48 0.11 0.80
0.3     99.7    0.52 0.16 0.23 0.51 0.11 0.86
0.4     85.4    0.55 0.17 0.25 0.54 0.12 0.91
0.5     54.9    0.60 0.18 0.27 0.59 0.13 0.99
0.6     22.8    0.67 0.21 0.29 0.63 0.14 1.06
       Inferred Mineral Resource
Cu %    Million Cu   Ni   Pt   Pd   Au   TPM
cut-off Tons    %    %    ppm  ppm  ppm  ppm
0.2     313.1   0.41 0.13 0.16 0.32 0.08 0.55
0.3     239.2   0.46 0.15 0.18 0.37 0.09 0.64
0.4     158.4   0.51 0.16 0.20 0.42 0.10 0.72
0.5     76.8    0.58 0.18 0.23 0.48 0.11 0.82
0.6     23.5    0.66 0.20 0.27 0.57 0.13 0.97
                                  

Table 5 - SPRUCE ROAD DEPOSIT INFERRED MINERAL RESOURCE (effective date 15
September 2012)

       
       Spruce Road Deposit
       Inferred Mineral Resource
Cu %    Million    Cu      Ni
cut-off Tons       %       %
0.2     674        0.38    0.14
0.3     480        0.43    0.16
0.4     254        0.50    0.18
0.5     101        0.57    0.21
0.6     24         0.66    0.24
                        

_________________________________
^3 Maturi Deposit  tonnages do  not include  139 million  tons of  mineralized 
material excluded from the underground resource in a safety pillar.
^4  CIM  Definition  Standards  (2010)  were  followed  for  Mineral  Resource 
estimation and classification.
^5 TPM is defined as Au + Pt + Pd.

Exploration Target Area Tonnage and Grade Ranges

Similar to the June 2012 interim report, AMEC has again highlighted additional
potential resources outside of the three  mineral resources which occur on  an 
additional 12% of  the footprint  of the  Twin Metals  Minnesota property.  In 
addition to the TMM  global resource, Exploration  Targets have been  outlined 
for four areas surrounding and adjacent to the Maturi and Birch Lake deposits.
The grade and  tonnage ranges  of the four  exploration targets  are based  on 
limited drill hole results.  For the Maturi North  and South targets, and  the 
Birch Lake target, the  target grade ranges and  tonnage ranges were based  on 
estimated blocks within the model above a 0.3% Cu cut-off grade that were  not 
classified as either Indicated  or Inferred, and applying  a ±20% variance  to 
the tonnages and grades to the estimates. The Maturi West exploration  target 
was based on statistical analysis of limited drilling grades and thickness  of 
intercepts at a 0.30% Cu cut-off.

The potential quantity and grade of the Exploration Targets are conceptual  in 
nature, and there has been insufficient exploration to define the target as  a 
mineral resource, and it  is uncertain if further  exploration will result  in 
the target being delineated as a mineral resource.

Maturi

The area inside  the Maturi model  perimeter surrounding the  boundary of  the 
Mineral Resource estimate  was divided  into two  exploration targets,  Maturi 
North and Maturi South.  An additional exploration  target, Maturi West,  lies 
outside and to the west of the  current model area. The tonnage and grades  of 
the Maturi North exploration target could  range from 290 to 435 million  tons 
grading 0.41 to 0.61% Cu, 0.14 to 0.21 %Ni, 0.10 to 0.14 ppm Pt, 0.24 to  0.34 
ppm Pd, and 0.07 to  0.07 ppm Au. The tonnage  and grades of the Maturi  South 
exploration target could range  from 330 to 500  million tons grading 0.42  to 
0.62 %Cu, 0.13 to 0.19 %Ni, 0.14 to 0.21 ppm Pt, 0.31 to 0.45 ppm Pd, and 0.07
to 0.10 ppm Au. The tonnage and  grades of the Maturi West exploration  target 
could range from 600  to 980 million  tons grading 0.41 to  0.52 %Cu, 0.15  to 
0.18 %Ni, 0.10 to 0.14 ppm Pt, 0.27 to  0.31 ppm Pd, and 0.07 to 0.07 ppm  Au. 
The ranges  of PGE  values stated  for  Maturi West  are based  on  regression 
formulas.

Birch Lake

The Birch Lake  exploration target  includes the  area inside  the Birch  Lake 
model perimeter surrounding the Indicated and Inferred Mineral Resources.  The 
tonnage and grades of the Birch  Lake exploration target could range from  222 
to 334 million tons grading  0.33 to 0.50 %Cu, 0.11  to 0.16 %Ni, and 0.39  to 
0.58 ppm TPM (comprising 0.11 to 0.16 ppm Pt, 0.22 to 0.33 ppm Pd, and 0.05 to
0.8 ppm Au).

About the Resource Estimates

The figures for resources presented herein, including the anticipated tonnages
and grades that may be achieved or the indicated level of recovery that may be
realized, are estimates,  and no  assurances can be  given that  they will  be 
realized during  production.  Such estimates  are,  in large  part,  based  on 
interpretations of  geological  data  obtained  from  drill  holes  and  other 
sampling techniques. Actual mineralization or  favourable host rock units  may 
be different  from those  predicted. It  may  also take  many years  from  the 
initial phase of drilling before production is possible, and during that  time 
the economic feasibility of exploiting a deposit may change.

The Company's business  of mineral exploration  has a high  level of  inherent 
risk. Although the Company  is optimistic about the  potential of many of  its 
projects, there is no guarantee that any mineral deposits will be economically
feasible and that these  deposits will be put  into production. The  Company's 
exploration and development  activities may also  be affected by  a number  of 
risks,  including   environmental,   metallurgical,   financing,   permitting, 
approval, legislative  and other  government  risks which  are normal  to  the 
industry and  are  referenced  in  greater  detail  in  the  Company's  Annual 
Information Form.

For the purposes of assessing reasonable prospects of economic recovery and
appropriate cut-off grade, the following assumptions were used:

  *Average mining costs: $16/t (all underground mining; long hole open
    stoping with backfill)
  *Average process costs: $12/t (flotation concentrate followed
    hydrometallurgical processing using Teck Resouorces Limited ("Teck") CESL™
    process^6)
  *G&A costs: $2/t

Underground potentially mineable shapes were  constrained by geology, and  the 
mine modeling software  used was  Vulcan™. The Maturi  resource was  estimated 
using Ordinary  Kriging with  a maximum  block  size of  25 x  25 x  15  feet. 
Indicated Mineral Resources generally extend 250 feet from well-drilled  areas 
showing continuity in  NSR values  and geological geometry.  Areas defined  by 
only legacy drilling are  not included within  the Indicated Mineral  Resource 
outline. The Inferred  Mineral Resource  boundary typically  extends 500  feet 
from well-drilled  areas  showing  continuity in  NSR  values  and  geological 
geometry. A variable tonnage factor was  used, but the average tonnage  factor 
was 10.5 ft^3/t. The  metal prices used in  the NSR calculation were  mutually 
agreed upon by  TMM, Antofagasta and  AMEC on  December 7, 2011  and have  not 
changed for this estimate. Assumed  metal prices and metallurgical  recoveries 
are presented in Tables 6a and 6b.

Table 6a - NSR calculation parameters, Maturi Deposit

Metal      Price (US$)   Recovery   Recovery Recovery Payable
                        Concentrate   CESL    Global
Copper      $3.00/lb       94.3%     96.3%    90.8%   100.0%
Nickel      $9.38/lb       72.0%     95.6%    68.8%    80.0%
Platinum  $1840/troy oz    93.0%     59.4%    55.2%    80.0%
Palladium $805/troy oz     90.0%     70.7%    63.6%    80.0%
Gold      $1050/troy oz    85.0%     74.5%    63.3%    80.0%

Table 6b - NSR calculation parameters, Birch Lake Deposit

Metal      Price (US$)    Recovery   Recovery Recovery Payable
                         Concentrate   CESL    Global
Copper       $3.00/lb       94.3%     96.3%    90.8%   100.0%
Nickel       $9.38/lb       60.0%     95.6%    57.4%    80.0%
Platinum  $1,840/troy oz    93.0%     59.4%    55.2%    80.0%
Palladium  $805/troy oz     90.0%     70.7%    63.6%    80.0%
Gold      $1,050/troy oz    85.0%     74.5%    63.3%    80.0%

_________________________________
^6 Teck has developed a hydrometallurgical process named CESL(tm), that
effectively recovers copper, nickel and PGM's from bulk copper-nickel-PGM
concentrates, which Duluth and Twin Metals are considering as a concentrate
processing alternative. Concentrate from the Maturi group of deposits has been
successfully procesed at bench and pilot scale at Teck's hydrometallurgical
facility in Richmond, BC with average recovery of metal from concentrate into
saleable product form as reported in Table 7a and Table 7b.

For the non-legacy assay data utilized in these resource estimates, half  core 
samples were prepared  at ALS Minerals  laboratories in Thunder  Bay and  then 
shipped to the ALS analytical  facilities in Vancouver. Samples were  analyzed 
for Au, Pt, and Pd using a 30g standard fire assay with an ICP-AES finish.  An 
additional 33  elements were  analyzed  for using  a  four acid  (near  total) 
digestion and a combination of ICP-MS and ICP-AES. ICP over-limits for  copper 
and nickel  are  re-analyzed  using  dissolution by  four  acid  (near  total) 
digestion followed by  ICP-AES or  AAS. The  remaining half  core samples  are 
being stored  in Minnesota.  A system  of blanks,  standards and  quarter-core 
duplicates were added  to the sample  stream by Twin  Metals Minnesota LLC  to 
verify accuracy and precision of assay results, supplementing and verifying  a 
variety of internal QA/QC tests performed by ALS Minerals.

All data verification and quality assurance/quality control procedures of Twin
Metals Minnesota LLC  were applied  specifically to the  results contained  in 
this press release, and the data  herein has been verified by Phillip  Larson, 
P. Geo., Senior Geologist with Duluth  Metals and a Qualified Person under  NI 
43-101,  in  accordance  with  the   procedures  of  the  Company.  The   data 
verification procedures and  quality assurance/control  procedures adopted  by 
the Company and applied to the work  being reported in this press release  can 
be found in Section 11 of the "NI 43-101 Technical Report on the Maturi, Birch
Lake, and Spruce Road Copper-Nickel-PGE  Projects, Ely, Minnesota, USA",  with 
an effective date of  June 15, 2012,  and dated July  27, 2012. The  Technical 
Report was  filed  on SEDAR  under  the Company's  profile  on July  27,  2012 
(www.sedar.com).

Dr. Harry Parker, SME, Registered Member,  Technical Director of AMEC, is  the 
Independent Qualified  Person  who  prepared  the  Resource  Estimate  and  is 
responsible for  the  mineral  resource estimates  summarized  in  this  press 
release. Dr.  Parker is  a licensed  Professional Geologist  in the  State  of 
Minnesota. Phillip Larson, P. Geo. is  the Qualified Person for Duluth  Metals 
and Senior Geologist for  Duluth Metals, in accordance  with NI 43-101 of  the 
Canadian Securities Administrators,  and reviewed and  approved the  technical 
content of this press release.

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.

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").









SOURCE Duluth Metals Limited

Image with caption: "Figure 1 (CNW Group/Duluth Metals Limited)". Image
available at:
http://photos.newswire.ca/images/download/20130121_C6967_PHOTO_EN_22686.jpg

Image with caption: "Figure 2 (CNW Group/Duluth Metals Limited)". Image
available at:
http://photos.newswire.ca/images/download/20130121_C6967_PHOTO_EN_22687.jpg

Image with caption: "Figure 3 (CNW Group/Duluth Metals Limited)". Image
available at:
http://photos.newswire.ca/images/download/20130121_C6967_PHOTO_EN_22688.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
 
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