Duluth Metals Identifies Two New Mineralized Areas on Exploration Lands

   Duluth Metals Identifies Two New Mineralized Areas on Exploration Lands

  PR Newswire

  TORONTO, February 5, 2013

TORONTO, February 5, 2013 /PRNewswire/ --

Duluth Metals Limited ("Duluth") (TSX: DM) (TSX:DM.U) is pleased to present
early results from the exploration program currently underway on Duluth's 100%
owned exploration properties in the Duluth Complex, northeast Minnesota. The
program has successfully identified two new mineralized areas, one consisting
of platinum group element ("PGE") mineralization on the East Shore properties
which cover the eastern margin of the South Kawishiwi Intrusion (SKI), and a
second consisting of copper-nickel-PGE mineralization within the Nickel Lake
Macrodike (NLM). The program has consisted of geologic mapping, geochemistry,
geophysics, and initial drill testing of targets on the properties which cover
8,850 acres of favorable geology adjacent to Duluth's Twin Metals Project
(Fig. 1).

"It's exciting that at the very early stages of our exploration program we
have confirmed mineralization in hotter portions of the geological system
upstream from the multi-billion ton Twin Metals Minnesota deposits," commented
Dean Peterson, Senior Vice President-Exploration of Duluth Metals.

Vern Baker, President of Duluth Metals commented, "We are pleased with the
early drill results which have confirmed sulphide mineralization in two key
areas of this massive geological system. We will be continuing with further
extensive drilling in these two areas of mineralization. One of the key focal
points of the next phase of drilling is the East Shore area where higher grade
PGM values have been returned from both surface outcrop and preliminary
drilling. In addition, the drilling in the Nickel Lake Macrodike has
identified mineralization somewhat different to the known mineralization of
the adjacent Twin Metals Project. We are currently following up with down-hole
EMP geophysical surveys and intend to continue drilling into the spring with
holes aimed at higher grade targets within deeper sections of the NLM."

Duluth is also pleased to report that Alan King, one of the world's foremost
geophysicists is being retained to consult with the Duluth Exploration team.
Mr. King's extensive worldwide expertise on nickel/copper geophysics will be a
valuable addition to Duluth's exploration efforts.

Area 1 - East Shore PGE Mineralization

The first new area of mineralization comprises PGE mineralization along the
eastern side of the SKI and within the adjacent anorthositic rocks on the East
Shore Property as shown in Figures 1 and 2. Geological mapping and geochemical
sampling of outcrops and angular boulders this summer identified
mineralization along a 2000 foot strike length zone of the eastern contact of
the SKI. Outcrop grab sampling returned TPM ^[ ^1 ^] values up to 3.5
grams/tonne (g/t) TPM, and float sampling up to 7.7 g/t TPM (Fig. 2a).
Significantly, some of the samples are characterized by high PGE to copper
sulphide ratios. The occurrence of this mineralization suggests the potential
for high-grade structure-hosted PGE mineralization, which has not been
previously recognized in the Duluth Complex.

Initial drilling in the East Shore area has confirmed anomalous TPM values in
a flat-lying zone in several holes with highlighted drill intercepts (see Fig.
2b) of PGM rich material as follows: (True thickness is estimated at about
100% of core length.)

  *12-DM-007 returned a 11.7 foot intersection of 3.28 g/t TPM including 7.3
    feet of 4.95 g/t TPM
  *12-DM-006 returned a 13.9 foot intersection of 1.63 g/t TPM including 4.8
    feet of 2.96 g/t TPM

Full assay results are shown in the following Table 1:

    Drill Hole From   To   Thickness  Cu   Ni   Pt    Pd    Au    TPM
               (ft)  (ft)    (ft)    (%)  (%)  (g/t) (g/t) (g/t) (g/t)
    12-DM-006  187.9 201.8   13.9    0.24 0.08  0.41  1.05  0.18  1.63
    including  192.2 197.0    4.8    0.50 0.16  0.75  1.81  0.41  2.96

    12-DM-007  187.9 199.6   11.7    0.04 0.02  0.69  2.48  0.10  3.28
    including  187.9 195.2    7.3    0.02 0.02  1.03  3.83  0.09  4.95

Area 2 - Nickel Lake Macrodike Mineralization

A systematic surficial geochemical survey in the NLM has defined a series of
pronounced base-metal (Fig. 3a) and precious-metal (Fig. 3b) geochemical
anomalies. These anomalies highlight the sulfide-bearing nature of the NLM
and appear to be sourced from discrete varieties of mapped sulfide-bearing
bedrock located on the northern margin of the NLM. The significant base and
precious metal geochemical anomaly in Section 20 is currently being drill
tested.

Within the NLM, a significant thickness of disseminated Cu-Ni-PGE bearing
sulphide has been identified in the initial drilling. Notably, the mineralized
material is unlike mineralization in the nearby Spruce Road and Maturi
Deposits, having an elevated Cu:Ni ratio of 5:1. The presence of this
mineralization in the NLM confirms the existence of sulphide-bearing magmas in
the feeder conduit to the mineralized SKI. The high Cu:Ni ratio suggests
sulphide fractionation took place within the NLM, and highlights the
possibility that the system may contain zones of concentrated Ni-rich sulphide
minerals in the feeder conduit.

Significant widths of mineralization in the NLM area have been identified both
in surface outcrop and in two drill holes to date (Fig. 4). Highlights from
the drilling to date are as follows: (The mineralized body is interpreted to
dip at about 60° to the southeast. True thickness is estimated at about 95% of
core length).

  *12-DM-017 returned a 243.4 foot intersection of 0.38% copper, 0.08% nickel
    and 0.12 grams/tonne (g/t) TPM, including a 30 foot intersection of 0.50%
    copper, 0.10% nickel and 0.13 g/t TPM.
  *12-DM-018 returned a 291.0 foot intersection of 0.30% copper, 0.06% nickel
    and 0.17 g/t TPM, including a 23.7 foot intersection of 0.50% copper,
    0.09% nickel, and 0.33 ppm g/t TPM.

Full assay results are shown in the following Table 2:

               From   To   Thickness  Cu   Ni   Pt    Pd    Au    TPM
    Drill Hole (ft)  (ft)    (ft)    (%)  (%)  (g/t) (g/t) (g/t) (g/t)
    12-DM-017  91.1  334.5   243.4   0.38 0.08 0.03  0.06  0.03  0.12
    including  196.0 226.0   30.0    0.50 0.10 0.03  0.07  0.03  0.13

    12-DM-018  113.4 404.4   291.0   0.30 0.06 0.04  0.08  0.04  0.17
    including  380.7 404.4   23.7    0.50 0.09 0.10  0.15  0.08  0.33

Ongoing drilling efforts are aimed at demonstrating the continuity of this
mineralization on strike and at depth, as well as following this
mineralization to deeper sections of the NLM. Future drilling efforts within
deeper sections of the NLM will focus on looking for higher grade
mineralization analogous to that found in the Maturi Deposit and potential
concentrations of Ni-rich massive sulphide. Drilling the most prospective area
for potential concentrations of massive sulphide at the mouth of the NLM will
require summer road building, planned to commence in the spring.

Duluth is continuing with an extensive drilling program into the spring of
2013. Currently there are two drills on the NLM mineralization area and two
drills on the East Shore PGM mineralization area. Exploration drilling
discussed in this press release is shown on the maps in this Press Release
(Figures 1-4), which can also be found on the Company website at
http://www.duluthmetals.com under this press release.

About the Sampling

Duluth Metals adheres to a rigorous QA/QC program as a part of sampling
procedures throughout the drill program. Duplicate, blank, and reference
standards are inserted into the sample stream prior to submittal the
laboratory. Half core samples are crushed and pulverized at ALS Minerals in
Thunder Bay, Ontario, and then shipped to its analytical facilities in
Vancouver, British Columbia. Samples are analyzed for Au, Pt, and Pd using a
30 gram fire assay with an ICP-AES finish, and for Cu, Ni, and other trace
elements using a four acid (near total) digestion and a combination of ICP-MS
and ICP-AES finishes. Overlimits are re-analyzed using sodium peroxide fusion,
acid dissolution, followed by an ICP-AES finish. The remaining half core
samples are stored in Minnesota.

Till samples of approximately 1 kg were collected from the B-horizon and
submitted to ALS Minerals in Thunder Bay, Ontario. Samples were dried and
sieved to -63 micron, and analyzed for Au, Pt, and Pd using a 30 gram fire
assay with an ICP-MS finish, and for Cu, Ni, and 46 other trace elements using
a four acid (near total) digestion with an ICP-MS finish. Reference standards
and field duplicates are submitted to the sample stream prior to submittal to
the laboratory, and internal laboratory standards provide a further check on
sample precision.

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 is responsible for Duluth Metal's technical
content of this press release and quality assurance of the exploration data
and analytical results.

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.

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").

^[ ^1 ^] TPM = platinum+palladium+gold, expressed as grams per tonne.

Image with caption: "Figure 1 - Project Area Location, Bedrock Geology and
Resources Map (CNW Group/Duluth Metals Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23272.jpg

Image with caption: "Figure 2a - Geologic map of the East Shore area (CNW
Group/Duluth Metals Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23273.jpg

Image with caption: "Figure 2b - Geologic cross section of the East Shore area
(CNW Group/Duluth Metals Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23274.jpg

Image with caption: "Figure 3a - Copper geochemical anomaly map of glacial
tills within the Nickel Lake Macrodike area (CNW Group/Duluth Metals
Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23275.jpg

Image with caption: "Figure 3b - Precious metal (Pt+Pd+Au) geochemical anomaly
map of glacial tills within the Nickel Lake Macrodike area (CNW Group/Duluth
Metals Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23279.jpg

Image with caption: "Figure 4 - Geologic Map of the Nickel Lake Macrodike Area
(CNW Group/Duluth Metals Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23280.jpg

Image with caption: "Figure 4 - Cross Section of the Nickel Lake Macrodike
Area (CNW Group/Duluth Metals Limited)". Image available at:
http://photos.newswire.ca/images/download/20130205_C2813_PHOTO_EN_23277.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