Duluth Metals Limited announces completion of private placement



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    TORONTO, June 6 /CNW/ - Duluth Metals Limited ("Duluth") (TSX: DM)
(TSX:DM.U) is pleased to announce that it has completed its brokered private
placement with a placement agent (Trump Securities, LLC of New York) (the
"Agent") for 12,000,000 units in the capital of the Corporation at $1.15 CDN
per unit (the "Issue Price") aggregating $13,800,000 CDN, previously announced
on April 20, 2007.
    Each unit consists of one common share of Duluth with one common share
purchase warrant ("Warrant") where each Warrant is exercisable into one common
share at any time prior to the date that is three years from the initial
Closing Date upon payment of $1.65 CDN per share. The Agent, pursuant to its
Over-Allotment Option, has also exercised its right to sell an additional
1,280,121 Units at the Issue Price, thereby increasing gross proceeds to
$15,272,139 CDN. The funds will be used to advance exploration on the
Corporation's Minnesota property and for working capital purposes.
    The Corporation will pay the Agent fees equal to 3.5% of the proceeds of
the Units sold ($534,525 Cdn) and will issue to the Agent compensation options
equal to 10% of the Units sold as a result of the efforts of the Agent
(1,328,012 compensation options).

    About Duluth Metals

    Duluth is committed to acquiring, exploring and developing copper, nickel
and platinum group metal deposits. Duluth's principal property is the Maturi
Extension Property located within the rapidly emerging Duluth Complex mining
camp in northeastern 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.

    This document may contain forward-looking statements (including
"forward-looking statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995) relating to Duluth's operations or to the
environment in which it operates. Such statements are based on operations,
estimates, forecasts and projections. They are not guarantees of future
performance and involve risks and uncertainties that are difficult to predict
and may be beyond Duluth's control. 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 other public filings.
In addition, such statements relate to the date on which they are made.
Consequently, undue reliance should not be placed on such forward-looking
statements. 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.





For further information:

For further information: Mara Strazdins, Director of Corporate
Communications, at mstrazdins@duluthmetals.com or at (416) 369-1500; or Henry
Sandri, President and CEO, at hsandri@duluthmetals.com, Web Page:
www.duluthmetals.com

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