Twin Metals Project after Acquisition of Franconia

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Acquisition of Franconia has significantly expanded the scope and scale
of the joint venture development


The Twin Metals Project is the newly expanded project which includes the
Nokomis Deposit and three additional resources from the acquisition


The Twin Metals technical team is actively working on planning and
engineering of the expanded project


Currently conducting studies to optimize the scale and ultimate scope of
the project


Ongoing drilling with six rigs for in-fill, expansion and additional
metallurgical samples


Continuing metallurgical tests to optimize the metallurgical program and
plant design



TORONTO, April 28 /PRNewswire/ - Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased
to announce a corporate update on the Twin Metals Project. Financing
requirements for the Twin Metals Project are fully covered for the next
three years by Antofagasta plc which is providing US$130 million in
funding for the joint venture operating company, Twin Metals Minnesota
LLC ("Twin Metals") which is 60% owned by Duluth Metals and 40% by
Antofagasta plc.


Twin Metals Project


The Twin Metals Project is the new name for the expanded project which
includes the Nokomis Deposit and additional resources on newly acquired
adjacent properties. Three significant NI43-101 compliant resources
have been added to the project with the acquisition of Franconia
Minerals Corporation ("Franconia"). These resources include the Maturi
Deposit, the Birch Lake Deposit, and the Spruce Road deposit. Franconia
held an undivided 70% interest in these properties and has exercised
its option to increase its interest to 82% by agreeing to fund all of
the carried interest of its joint venture partner through to commercial
production. The Twin Metals Project encompasses all these resources and
the fully contiguous land package that contains all four resources. The
Twin Metals Project is currently in an extensive review of various
scaling and development alternatives for the expanded project. For the
next several years, Twin Metals will be focused on advancing the
Project, as it moves through pre-feasibility towards completion of a
bankable feasibility and a Draft Environmental Impact Statement. Twin
Metals has a dedicated budget of US$130 Million to finance development
activities over a 36 month period.


Current work on the Twin Metals Project includes:



Drilling with 5 rigs to better understand deposit, including continuity
between Maturi and Nokomis deposits;


A sixth rig is drilling large diameter core to add to the metallurgical
bulk sample;


Geological review of old and new core data to provide a fully updated
resource estimate for the full property;


Additional metallurgical tests conducted on progressively larger
samples;


Assessment of a range of various scales of operations and a variety of
production alternatives;


Environmental base line studies to provide inputs for the Environmental
Review Process;


Construction completion this summer of a new project office for Twin
Metals in Ely, to accommodate the rapidly expanding project program.



The Twin Metals Project now covers over 25,000 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 the world's largest
nickel-copper-PGM deposits within a new emerging mining belt in
Minnesota, USA.


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 31,000 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, which is 60% owned
by Duluth Metals and 40% by Antofagasta plc. The joint venture's
principal asset is called the Twin Metals Project, located within the
Duluth Complex mining camp in north-eastern Minnesota. The Twin Metals
Project now covers over 25,000 acres of land/mineral interests and
includes four NI 43-101 compliant Mineral Resources: the Spruce Road
Deposit; the Nokomis Deposit; the Maturi Deposit, and the Birch Lake
Deposit. (Franconia held an undivided 70% interest in the Birch, Spruce and Maturi
properties and has exercised its option to increase its interest to 82%
by agreeing to fund all of the carried interest of its joint venture
partner through to commercial production.)


This document may contain 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 operations of Duluth, the
environment in which it operates, timing and amount of capital
expenditures, results of exploration and mine development, the
availability of funding to Duluth and timing of geological reports.
Such statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve
known and unknown risks, uncertainties and other factors that are
difficult to predict and may be beyond the control of Duluth. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements,
including those set forth in the annual information form under the
heading "Risk Factors" and in the other public filings of Duluth.
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 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.




SOURCE Duluth Metals Limited