TORONTO, June 7, 2011 /CNW/ - Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) is pleased to announce that the Duluth Metals Annual and Special Meeting of Shareholders will be held at One King West Hotel, Manager's Boardroom, Second Floor, 1 King St. West, Toronto, on Wednesday, June 15, 2011 at 10:00am EST. An archived copy of the presentation will also be available on the Company website at www.duluthmetals.com after the meeting.
The meeting will include an update presentation on the Twin Metals Project in northeast Minnesota, USA. The Twin Metals Project contains four NI 43-101 compliant Mineral Resources: the Spruce Road Deposit, the Nokomis Deposit, the Maturi Deposit and the Birch Lake Deposit, covering over 25,000 acres of land/mineral interests. The Twin Metals Project is being advanced by Twin Metals Minnesota LLC ("Twin Metals"), a joint venture company which is 60% owned by Duluth Metals and 40% owned by Antofagasta plc.
In addition to the Twin Metals Project, the Company is actively conducting exploration on approximately 15,000 acres of its 100% owned (non-joint venture) exploration properties within the Duluth Complex of Minnesota. These properties provide new exploration prospects for potential growth outside of the joint venture.
About Duluth Metals Limited
Duluth Metals Limited is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint venture with Antofagasta plc on the Twin Metals Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern 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. Aside from the joint venture, Duluth Metals retains a 100% position on approximately 31,000 acres of mineral interests on exploration properties adjacent to and nearby the Twin Metals Minnesota LLC joint venture.
About Twin Metals Minnesota LLC
Twin Metals Minnesota LLC is a joint venture company, which is 60% owned by Duluth Metals and 40% by Antofagasta plc. The joint venture's principal asset is called the Twin Metals Project, located within the Duluth Complex mining camp in north-eastern Minnesota. The Twin Metals Project now covers over 25,000 acres of land/mineral interests and includes four NI 43-101 compliant Mineral Resources: the Spruce Road Deposit; the Nokomis Deposit; the Maturi Deposit, and the Birch Lake Deposit. (Franconia held an undivided 70% interest in the Birch, Spruce and Maturi properties and has exercised its option to increase its interest to 82% by agreeing to fund all of the carried interest of its joint venture partner through to commercial production.)
This document may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the operations of Duluth, the environment in which it operates, timing and amount of capital expenditures, results of exploration and mine development, the availability of funding to Duluth and timing of geological reports. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Duluth. 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 the annual information form under the heading "Risk Factors" and in the other public filings of Duluth. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof. 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.
