Duluth Metals receives NI 43-101 report on interim Nokomis Deposit Resource Estimate before commencement of pre-feasibility study



    TORONTO, July 21 /CNW/ - Duluth Metals Limited ("Duluth") (TSX: DM)
(TSX:DM.U) today announces the receipt of the independent NI 43-101 compliant
report completed by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson
RPA) entitled "Technical Report on the Resource Estimate for the Nokomis
Deposit on the Maturi Extension Properties, Minnesota, USA, prepared for
Duluth Metals Limited". Richard E. Routledge, M.Sc., P.Geo. of Scott Wilson
RPA, Toronto Canada, is the Independent Qualified Person who prepared the
report which is available on www.sedar.com or the Company website at
www.duluthmetals.com.
    "This update on our Resource prepared by Scott Wilson RPA confirms good
continuity, grade and the fact that we are delineating zones of higher grade
mineralization", stated Henry J. Sandri, President and CEO. "As the Resource
is estimated on approximately 50% of our Maturi Extension Properties, we look
forward to expanding the Nokomis Deposit and seeking out high grade
exploration opportunities."
    The Updated Nokomis Resource Estimate defines 449 million tonnes
Indicated Resources grading 0.624% copper, 0.199% nickel, 0.600 grams per
tonne TPM (copper equivalent grade of 1.46%), plus an additional 284 million
tonnes of Inferred Resources grading 0.627% copper, 0.194% nickel, 0.718 grams
per tonne TPM (copper equivalent grade of 1.50%). (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 January 22, 2008, NI 43-101
Scoping Study produced by Scott Wilson RPA.)

    
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       Duluth Metals Limited Nokomis Deposit, Maturi Extension Property,
                                  Minnesota
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    -------------------------------------------------------------------------
                                    Indicated Resources
    -------------------------------------------------------------------------
                                                                       CuEq
    Cut-off  Tonnes    Cu     Ni     Co     Au     Pt     Pd     TPM   (6,8)
    -------------------------------------------------------------------------
     Grade   (000's)    %      %      %     g/t    g/t    g/t    g/t     %
    -------------------------------------------------------------------------
    1.0%     449,413  0.624  0.199  0.010  0.084  0.159  0.358  0.600   1.46
    CuEq
    -------------------------------------------------------------------------
    0.5% Cu  376,306  0.658  0.206  0.011  0.090  0.172  0.390  0.653   1.54
    -------------------------------------------------------------------------
    0.6% Cu  247,149  0.714  0.216  0.011  0.103  0.199  0.452  0.753   1.66
    -------------------------------------------------------------------------
    0.7% Cu  112,035  0.794  0.233  0.011  0.123  0.240  0.549  0.912   1.86
    -------------------------------------------------------------------------
    0.8% Cu   41,078  0.883  0.255  0.011  0.152  0.293  0.679  1.124   2.09
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                                     Inferred Resources
    -------------------------------------------------------------------------
                                                                       CuEq
    Cut-off  Tonnes    Cu     Ni     Co     Au     Pt     Pd     TPM   (6,8)
    -------------------------------------------------------------------------
     Grade   (000's)    %      %      %     g/t    g/t    g/t    g/t     %
    -------------------------------------------------------------------------
    1.0%     284,230  0.627  0.194  0.010  0.096  0.191  0.431  0.718   1.50
    CuEq
    -------------------------------------------------------------------------
    0.5% Cu  236,102  0.667  0.198  0.010  0.105  0.210  0.475  0.790   1.58
    -------------------------------------------------------------------------
    0.6% Cu  155,743  0.725  0.201  0.010  0.120  0.239  0.542  0.902   1.69
    -------------------------------------------------------------------------
    0.7% Cu   72,418  0.817  0.214  0.010  0.144  0.280  0.640  1.065   1.88
    -------------------------------------------------------------------------
    0.8% Cu   33,292  0.900  0.215  0.010  0.173  0.320  0.739  1.231   2.03
    -------------------------------------------------------------------------

    1.  CIM definitions were followed for Mineral Resource estimation and
        classification.
    2.  Mineral Resources are estimated at a zone definition (wireframe) cut-
        off grade of approximately 1.0% Cu equivalent grade (CuEq).
    3.  The approximately 1.0% CuEq cut-off grade includes all material in
        the wireframed zones.
    4.  Bulk density is 3.01 t/m(3)
    5.  Resources were estimated to a maximum depth of approximately 1,350 m.
    6.  Copper equivalent (CuEq%) is based on Net Smelter Return Factors as
        determined for the Preliminary Economic Assessment by Scott Wilson
        RPA dated January 18, 2008.
    7.  Metal Prices used were $1.75/lb copper, $7.00/lb nickel, $10.00/lb
        Co, $600/oz Au, $1100/oz Pt and $350/oz Pd.
    8.  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 based on expected
        metal prices and process recovery and refining charges.
    9.  TPM is Au g/t + Pt g/t + Pd g/t.
    10. Co, Au, Pt, Pd grades, that are lacking in historic drill holes, have
        been entered in the resource database based on regression of assay
        grades from DML drill hole assays.


              CONTAINED METALS IN EXPANDED NOKOMIS RE

SOURCE(*): ------------------------------------------------- ------------------------------------------------------- INDICATED RE

SOURCE INFERRED RE

SOURCE ------------------------------------------------------- Copper 6.18 Billion lbs. 3.93 Billion lbs. Nickel 1.97 Billion lbs. 1.21 Billion lbs. Cobalt 103 Million lbs. 62.8 Million lbs. Platinum 2.30 Million ozs. 1.75 Million ozs. Palladium 5.17 Million ozs. 3.94 Million ozs. Gold 1.21 Million ozs. 0.88 Million ozs. ------------------------------------------------------- (*)Based on resource estimated at 1.0% copper equivalent cut-off In addition, Duluth Metals will be shortly commencing the Pre-Feasibility Study on the Nokomis Deposit. This contract is soon to be awarded and work should commence in August. The current project schedule includes ongoing infill drilling within the Nokomis Deposit and step out drilling; ongoing studies, including metallurgical studies for optimization; bulk sampling for large scale metallurgical testing; environmental studies and permitting assessments; mining engineering and planning studies, the upcoming Pre-Feasibility Study and a Full Updated Resource Estimate in early 2009. David Oliver, P. Geo. is the Qualified Person and Project Manager for Duluth, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release and quality assurance of the exploration data and analytical results. 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. 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. The Minnesota
corporate office is telephone (651) 389-9990. Web Page: www.duluthmetals.com

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