Duluth Metals Limited announces private placement



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    TORONTO, April 20 /CNW/ - Duluth Metals Limited ("Duluth") (TSX: DM)
(TSX:DM.U) is pleased to announce today that it is in the process of
completing a brokered private placement with a placement agent for up to
12,000,000 units in the capital of the Corporation at $1.15 CDN per unit (the
"Issue Price") aggregating $13,800,000 CDN.
    Each unit will consist 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 placement agent
has the right to purchase up to an additional 1,500,000 Units at the Issue
Price exercisable within five business days from the completion of the private
placement. The private placement has received conditional approval from the
Toronto Stock Exchange. One of TSX's conditions is that shareholder approval
be obtained for those Units placed in excess of an aggregate of 5,500,000,
based on 48,404,317 common shares outstanding as at April 2, 2007. The funds
will be used to advance exploration on the Corporation's Minnesota property
and for working capital purposes.

    About Duluth Metals

    Duluth is committed to acquiring, exploring and developing copper, nickel
and platinum group metal (PGM) 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. Duluth is pursuing other advanced stage nickel, copper and PGM
projects which can be put into production within a suitable time frame.

    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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Duluth Metals Limited

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