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Duluth Metals Announces An Updated Mineral Resource Estimate Confirming Large Increases To Twin Metals Contained Metal, Grade And Indicated Tonnage

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 4 - MATURI DEPOSIT INDICATED AND INFERRED MINERAL RESOURCES

                       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 5 - BIRCH LAKE DEPOSIT INDICATED AND INFERRED MINERAL RESOURCES

                     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

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