Duluth Metals Provides Twin Metals Minnesota Project Pre-feasibility Update

 Duluth Metals Provides Twin Metals Minnesota Project Pre-feasibility Update

PR Newswire

TORONTO, Jan. 7, 2014

  *Pre-feasibility completion scheduled for mid-year, 2014.
  *A new comprehensive NI 43-101 compliant Technical Report on the
    Pre-Feasibility Study is scheduled for completion by mid-year, 2014.
  *In addition, a NI 43-101 compliant Technical Report on an updated Resource
    for the project will be completed by Spring, 2014.

TORONTO, Jan. 7, 2014 /PRNewswire/  - Duluth Metals Limited ("Duluth  Metals") 
(TSX: DM) (TSX: DM.U)  is pleased to announce  that the Twin Metals  Minnesota 
Project ("Twin Metals") Pre-feasibility is progressing well with a  completion 
date scheduled for mid-year 2014. Over the next few months, the main focus  is 
the completion  of the  Pre-feasibility  Study and  delivering by  mid-year  a 
comprehensive NI  43-101  compliant Technical  Report  on this  phase  of  the 
project development. In addition, a  NI 43-101 compliant Technical Report  on 
an updated resource estimate for the  project is scheduled to be completed  by 
Spring, 2014. The  updated resource  estimate will  incorporate all  drilling 
since September  2012, including  the 35  closely spaced  diamond drill  holes 
within the  Maturi Deposit  designed to  provide the  Joint Venture  team  the 
necessary  information  to  define  the  drill  spacing  required  to  upgrade 
Indicated to Measured  Resource within  the resource base  (see Duluth  Metals 
press release dated Dec  6, 2013, "Duluth Metals  Announces Results from  Twin 
Metals Fence Drilling Program").

The  Twin  Metals   copper-nickel-platinum-palladium-gold  project  is   being 
developed by joint venture  partners Antofagasta plc  and Duluth Metals.  Over 
the last year, Twin Metals has concentrated on optimizing the project in every
dimension, including:

  *Mine planning, including a detailed mining plan utilizing large scale
    underground mining methods
  *Metallurgy, including detailed analysis of selective flotation and
    downstream processing
  *Various milling capacity options
  *Surface facility definition and planning
  *Environmental studies and planning
  *Marketing studies for various products

"The Twin Metals Project is based on  a resource with the scale and extent  to 
provide many options for development.  The project continues to have  multiple 
avenues for that development, and the  current plans will be directed at  what 
the first development within the project  will look like." stated Vern  Baker, 
President of  Duluth Metals.  "The Twin  Metals Project  is one  of the  most 
capital efficient large mining projects in  the world, situated in one of  the 
best jurisdictions in the world, with exceptional infrastructure nearby."

The Twin Metals  Minnesota Project  covers over 32,000  acres of  land/mineral 
interests and consolidates the largest  base and precious metal land  position 
in Minnesota.  This extensive  land  position provides  Twin Metals  with  the 
platform to  plan and  develop one  of the  world's largest  copper-nickel-PGM 
deposits. Using  a 0.3%  Cu cut-off,  the  Twin Metals  Project has  a  global 
mineral resource of 1.17 billion tons  of Indicated Resource and 1.26  billion 
tons of Inferred Resource,  located on approximately 11%  of the footprint  of 
the prospective portion of the Twin  Metals property block (see Duluth  Metals 
press release dated  Jan 21, 2013,  "Duluth Metals Announces  SEDAR filing  of 
AMEC Technical Report on the Twin Metals Project"). Mine planning is focusing
on the higher grade S3  Subunit in the Maturi Deposit,  which using a 0.6%  Cu 
cut-off, contains 500  million tons  of Indicated Resource  grading 0.72%  Cu, 
0.23% Ni  and 0.78  ppm TPM^1,  plus  129 million  tons of  Inferred  Resource 
grading 0.70% Cu, 0.22% Ni  and 0.92 ppm TPM.  (^1TPM = Total Precious  Metals 

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  Metals  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 a wholly-owned subsidiary of Antofagasta plc  (Antofagasta) 
on the  Twin Metals  Minnesota 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. 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.

^1 TPM = platinum + palladium + gold

SOURCE Duluth Metals Limited


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

Vern Baker
Telephone: (651) 389-9990

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