Duluth Metals Announces 30 Feet Of 2.11 G/t Total Precious Metals And 94 Feet Of 1.68 G/t TPM's On Latest Drilling At The Twin Metals Project

TORONTO, April 23, 2012 /PRNewswire/ --

• Continued positive drill results in between the Maturi and Nokomis Deposits
• Results continuing to show higher grade PGM assays in the area of the "donut hole"
• Pre-Feasibility study in progress on Twin Metals Project
• The initial pre-feasibility NI-43-101 Resource Estimate report on the consolidated resources of the Twin Metals Project is nearing completion by AMEC
• Bechtel is leading and preparing the Pre-Feasibility Study; AMEC will do the NI43-101 Technical Report on the resources used in the Pre-Feasibility study

Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce continued strong assay results for 15 holes drilled on the Twin Metals Project in northeastern Minnesota. Three holes, MEX-285, 279 and 273 drilled in the area of the "donut hole" (a parcel internal to the Nokomis resource acquired with Franconia acquisition) continue to demonstrate the continuity of higher grade platinum + palladium + gold (TPM) values in this area.

"These positive drill results continue to show the continuity of mineralization throughout the deposit. Holes MEX 285, 279 and 273 show additional higher grade results from the "donut hole" area acquired from Franconia and strongly indicate the potential for a mineable area with distinctly higher precious metal grades," stated Vern Baker, President of Duluth Metals. "The western holes confirm that Nokomis and Maturi are part of the same mineralized zone, and show relatively thick mineralized widths for that area."

Drilling highlights include:

• Mex-285 returned 150.0 feet of 0.724% copper, 0.231% nickel, 2.40 g/t silver and 1.103 grams TPM (Cu Equivalent* of 1.87%) including 89.0 feet of 0.936% copper, 0.284% nickel, 3.02 g/t silver and 1.445 grams TPM (Cu Equivalent* of 2.37%).
• Mex-279 intersected 145.0 feet of 0.623% copper, 0.173% nickel, 2.30 g/t silver and 1.272 g/t TPM (Cu Equivalent* of 1.63%) including 94.0 feet of 0.762% copper, 0.202% nickel, 2.66 g/t silver and 1.680 grams TPM (Cu Equivalent* of 2.01%).
• Mex-273 intersected 68.0 feet of 0.616% copper, 0.194% nickel, 1.59 g/t silver and 1.202 g/t TPM (Cu Equivalent* of 1.68%) including 30.0 feet of 0.983% copper, 0.275% nickel, 2.25 g/t silver and 2.112 grams TPM (Cu Equivalent* of 2.65%).

One hole, Mex-0278M drilled to the east of the donut hole area returned 89.0 feet of 0.751% copper, 0.213% nickel, 2.86 g/t silver and 1.592 g/t TPM (Cu Equivalent* of 1.99%).

Eleven holes completed between the Maturi Deposit and the Nokomis Deposit demonstrate the continuous, relatively thick mineralization located between the two deposits. Drilling highlights include:

• Mex-271 returned 160.0 feet of 0.574% copper, 0.232% nickel, 1.87 g/t silver and 0.451 grams TPM (Cu Equivalent* of 1.46%) including a 115.0 foot section of 0.653% copper, 0.262% nickel, 2.04 g/t silver and 0.517 grams TPM (Cu Equivalent* of 1.66%)
• Mex-272 returned 232 feet of 0.625% copper, 0.186% nickel, 1.59 g/t silver and 0.455 grams TPM (Cu Equivalent* of 1.37%) including a 182 foot section of 0.706% copper, 0.206% nickel, 2.00 g/t silver and 0.522 grams TPM (Cu Equivalent* of 1.54%)
• Mex-281 returned 153 feet of 0.688% copper, 0.221% nickel, 2.12 g/t silver and 0.725 grams TPM (Cu Equivalent* of 1.64%) including a 139.5 foot section of 0.723% copper, 0.230% nickel, 2.20 g/t silver and 0.773 grams TPM (Cu Equivalent* of 1.72%).

* Note - Copper Equivalent is based on US metal prices of: Copper - $1.75/lb, Nickel - $7.00/lb, Cobalt - $10.00/lb, Gold - $600/oz, Platinum - $1,100/oz, Palladium - $350/oz and Silver - $8.50/oz, and the methodology with metallurgical recoveries, refining costs and other charges being considered for all metals in accordance with the Net Smelter Return Factors contained in the December 10, 2009 Technical Report On The Mineral Resource Estimate For The Nokomis Deposit On The Nokomis Property, Minnesota, U.S.A. by Scott Wilson RPA.

A map illustrating the location of the 15 drill holes reported in this press release can be found on the Company website under this press release at http://www.duluthmetals.com.  The map shows the designated NI 43-101 resource outlines for the Nokomis, Maturi and Spruce Road Deposits.  ( see Franconia's company profile on Sedar at http://www.SEDAR.com for the October 20, 2006 Technical Report on the Preliminary Assessment of the Birch Lake and Maturi Deposits, Minnesota, U.S.A by Scott Wilson Roscoe Postle Associates; and the November 15, 2007 Technical Report on the Resource Estimate for the Spruce Road Deposit, Minnesota, U.S.A by Scott Wilson Roscoe Postle Associates; Cut-off grade 0.5% Cu.; see Duluth's company profile on Sedar at http://www.SEDAR.com for the  December 10, 2009 Technical Report On The Mineral Resource Estimate For The Nokomis Deposit On The Nokomis   Property ,   Minnesota ,   U.S.A.   Cut-off grade at 1.0% CuEq, **Copper equivalent (CuEq%) = Cu% + 3.03 x Ni% + 0.63 x Co% + 0.30 x Au g/t + 0.76 x Pt g/t + 0.24 x Pd g/t).

An initial pre-feasibility NI-43-101 compliant Technical Report on the consolidated resources of the Twin Metals Project is nearing completion by AMEC and is anticipated to be finalized in the second quarter of 2012.  This report is going through final iterations as minor additions are incorporated into the geologic model.  This resource estimate will be used for mine planning purposes in the pre-feasibility study.  This initial resource update will be followed up by a final pre-feasibility resource estimate which will incorporate data from recent and current targeted drill programs.

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