Duluth Metals Limited Inc. continues to receive wide significant mineralized intersections on Nokomis Deposit drilling by 24hgold

Keywords : Cobalt |

Re: News Release - Thursday, December 04, 2008
Title: Duluth Metals Continues To Receive Wide Significant Mineralized Intersections On Nokomis Deposit Drilling

TORONTO, Ontario, December 4, 2008 -- Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) today announced significant new assays for 15 holes drilled in the Nokomis Deposit located near Ely, Minnesota. Of particular interest, Hole MEX-141, has expanded the Eastern High Grade Corridor (see October 27, 2008 press release) to the south-west, intersecting a 35.0 foot section of 1.201% copper, 0.436% nickel, and 1.468 grams per tonne (g/t) Total Precious Metals (TPM = Platinum+palladium+Gold) (Cu Equivalent* of 3.074%) within 170 feet of 0.779% copper, 0.246% nickel and 1.146 g/t TPM (Cu Equivalent* of 1.968%).

In addition, results from seven holes, MEX-130, 134, 139, 142, 147, 151 and 152 has extended the central part of the Nokomis Deposit down dip. Hole MEX-147 intersected 110.0 feet of 1.060% copper, 0.315% nickel, and 1.100 g/t TPM (Cu Equivalent* of 2.440%) within 125 feet of 1.012% copper, 0.293% nickel and 1.030 g/t TPM (Cu Equivalent* of 2.301%). MEX-142-W2 intersected 157.5 feet of 0.740% copper, 0.219% nickel, and 1.114 g/t TPM (Cu Equivalent* of 1.856%), including a 24.5 foot section of 1.084% copper, 0.296% nickel and 1.715 g/t TPM (Cu Equivalent* of 2.664%). MEX-130 intersected 29.6 feet of 0.760% copper, 0.181% nickel and 0.910 g/t TPM (Cu Equivalent* of 1.670%), including 9.9 feet of 1.242% copper, 0.272% nickel and 1.410 g/t TPM (Cu Equivalent* of 2.629%).

Seven other in-fill holes, MEX-132, 140, 143, 146, 148, 149, and 150, drilled in the north-west sector of the Nokomis Deposit continue to intersect wide mineralized sections averaging about 350 feet in thickness, amenable to underground bulk tonnage mining methods. Highlights from the drilling include: MEX-132 intersected 185.0 feet of 0.727% copper, 0.230% nickel and 0.635 g/t TPM (Cu Equivalent* of 1.706%), including 35.0 feet of 1.129% copper, 0.347% nickel and 1.119 g/t TPM (Cu Equivalent* of 2.781%); MEX-140 intersected 424.1 feet of 0.656% copper, 0.187% nickel and 0.432 g/t TPM (Cu Equivalent* of 1.359%), including 63.9 feet of 1.045% copper, 0.280% nickel and 0.703 g/t TPM (Cu Equivalent* of 2.166%); MEX-146 intersected 340.5 feet of 0.536% copper, 0.182% nickel and 0.384 g/t TPM (Cu Equivalent* of 1.244%), including 44.3 feet of 0.775% copper, 0.248% nickel and 0.536 g/t TPM (Cu Equivalent* of 1.735%); MEX-148 intersected 354.2 feet of 0.610% copper, 0.191% nickel and 0.462 g/t TPM (Cu Equivalent* of 1.374%), including 181.9 feet of 0.739% copper, 0.234% nickel and 0.584 g/t TPM (Cu Equivalent* of 1.680%) and 14.6 feet of 1.165% copper, 0.343% nickel and 0.865 g/t TPM (Cu Equivalent* of 2.546%); MEX-149 intersected 369.9 feet of 0.546% copper, 0.159% nickel and 0.338 g/t TPM (Cu Equivalent* of 1.165%), including 50.2 feet of 0.900% copper, 0.248% nickel and 0.607 g/t TPM (Cu Equivalent* of 1.884%).

*Note to Reader: 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 - $350/0z 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 January 22, 2008, NI 43-101Scoping Study produced by Scott Wilson Roscoe Postle Associates.

A complete assay table of all drill holes is provided further in this press release.

The final two holes in the 2008 drilling program are currently awaiting assay results and are expected by year-end. Duluth Metals completed its 2008 drilling program last month and released its last rig in November.

"We continue to intersect wide consistent mineralized sections with our infill drilling, extend our deposit down dip to the south, and expand our Eastern High Grade Corridor. We have a strong cash position and will continue to move the project forward in a reasonable manner while prudently managing our cash", stated Dr. Henry J. Sandri, President and CEO of Duluth Metals. "Even in these times of market turbulence, our new Nokomis Deposit Scoping Study, (see press release dated November 25, 2008) indicates that the Nokomis Project model, which uses current metal market pricing, projects positive economic returns in today's difficult metal price environment."

A more detailed summary of the assay results for holes MEX-130 to 152 inclusive can be found in the table below. True width is estimated at about 90% of core length.

HOLE	ZONE	FROM (feet)	TO (feet)	LENGTH (feet)	COPPER (%)	NICKEL (%)	*TPM (g/t)**
MEX-130	Total Min. Interval	3759.8	3882.9	123.1	0.448	0.103	0.483
	@0.3% Cu cut-off	3759.8	3843.6	83.8	0.533	0.122	0.572
	@0.5% Cu cut-off	3759.8	3789.4	29.6	0.760	0.181	0.910
	including	3779.5	3789.4	9.9	1.242	0.272	1.410

MEX-132	@0.3% Cu cut-off	2253	2438	185	0.727	0.230	0.635
	@0.5% Cu cut-off	2258	2343	85	0.923	0.295	0.814
	including	2268	2303	35	1.129	0.347	1.119
	@0.5% Cu cut-off	2383	2433	50	0.713	0.223	0.637

MEX-134-W1	@0.3% Cu cut-off	3902.6	4035.4	132.8	0.459	0.112	0.463

MEX-139-W1	@0.3% Cu cut-off	3813	3963	150	0.623	0.180	0.683
	including	3848	3853	5	1.255	0.386	1.658
	@0.5% Cu cut-off	3868	3963	95	0.652	0.188	0.693

MEX-140	@0.3% Cu cut-off	816.7	1240.8	424.1	0.656	0.187	0.432
	@0.5% Cu cut-off	816.7	1023.4	206.7	0.835	0.238	0.577
	including	959.5	1023.4	63.9	1.045	0.280	0.703
	@0.5% Cu cut-off	1103	1132.6	29.6	0.629	0.161	0.367

MEX-141	@0.3% Cu cut-off	4032	4202	170	0.779	0.246	1.146
	@0.5% Cu cut-off	4032	4192	160	0.809	0.251	1.192
	including	4147	4182	35	1.201	0.436	1.468

MEX-142-W2	@0.3% Cu cut-off	3517.8	3675.3	157.5	0.740	0.219	1.114
	@0.5% Cu cut-off	3517.8	3626.1	108.3	0.793	0.224	1.208
	including	3532.7	3557.2	24.5	1.084	0.296	1.715
	@0.5% Cu cut-off	3655.6	3675.3	19.7	0.929	0.331	1.353

MEX-143	Total Min. Interval	619.9	1098.2	478.3	0.422	0.120	0.225
	@0.3% Cu cut-off	619.9	847.2	227.3	0.509	0.142	0.275
	@0.5% Cu cut-off	624.9	718.3	93.4	0.637	0.175	0.348
	@0.3% Cu cut-off	984.9	1078.6	93.7	0.476	0.141	0.259

MEX-146	@0.3% Cu cut-off	1111.9	1452.4	340.5	0.536	0.182	0.384
	@0.5% Cu cut-off	1111.9	1156.2	44.3	0.775	0.248	0.536
	@0.5% Cu cut-off	1200.5	1254.6	54.1	0.555	0.186	0.429
	@0.5% Cu cut-off	1388.4	1447.4	59	0.649	0.202	0.411

MEX-147	@0.3% Cu cut-off	3937	4107	170	0.856	0.246	0.862
	@0.5% Cu cut-off	3937	4062	125	1.012	0.293	1.030
	including	3937	4047	110	1.060	0.315	1.100

MEX-148	@0.3% Cu cut-off	1314.7	1668.9	354.2	0.610	0.191	0.462
	@0.5% Cu cut-off	1314.7	1496.6	181.9	0.739	0.234	0.584
	@0.5% Cu cut-off	1531.2	1545.8	14.6	1.165	0.343	0.865

MEX-149	Total Min. Interval	1166.1	1536	369.9	0.546	0.159	0.338
	@0.3% Cu cut-off	1166.1	1408.1	242	0.582	0.171	0.348
	@0.5% Cu cut-off	1166.1	1285.2	119.1	0.761	0.210	0.467
	including	1166.1	1216.3	50.2	0.900	0.248	0.607
	@0.5% Cu cut-off	1309.7	1344.2	34.5	0.648	0.231	0.385
	@0.3% Cu cut-off	1437.6	1501.6	64	0.719	0.208	0.441
	@0.5% Cu cut-off	1442.6	1501.6	59	0.749	0.216	0.460

MEX-150	@0.3% Cu cut-off	1083.4	1422.9	339.5	0.494	0.154	0.334
	@0.5% Cu cut-off	1181.8	1265.5	83.7	0.672	0.194	0.483

MEX-151	@0.5% Cu cut-off	4148	4193	45	0.597	0.134	1.050

MEX-152	@0.5% Cu cut-off	4263	4268	5	0.960	0.087	1.237
	@0.3% Cu cut-off	4293	4343	50	0.368	0.083	0.674

*Total Precious Metals = Platinum+palladium+Gold

Complete gold, platinum, and palladium assays for MEX- MEX-130 to 152 inclusive are as follows:

HOLE	ZONE	FROM (feet)	TO (feet)	LENGTH (feet)	GOLD (g/t)	PLATINUM (g/t)	palladium (g/t)
MEX-130	Total Min. Interval	3759.8	3882.9	123.1	0.063	0.129	0.291
	@0.3% Cu cut-off	3759.8	3843.6	83.8	0.075	0.155	0.342
	@0.5% Cu cut-off	3759.8	3789.4	29.6	0.118	0.248	0.544
	including	3779.5	3789.4	9.9	0.153	0.404	0.852

MEX-132	@0.3% Cu cut-off	2253	2438	185	0.075	0.229	0.331
	@0.5% Cu cut-off	2258	2343	85	0.089	0.348	0.377
	including	2268	2303	35	0.095	0.617	0.407
	@0.5% Cu cut-off	2383	2433	50	0.076	0.175	0.386

MEX-134-W1	@0.3% Cu cut-off	3902.6	4035.4	132.8	0.064	0.128	0.271

MEX-139-W1	@0.3% Cu cut-off	3813	3963	150	0.110	0.164	0.408
	including	3848	3853	5	0.492	0.253	0.913
	@0.5% Cu cut-off	3868	3963	95	0.111	0.174	0.408

MEX-140	@0.3% Cu cut-off	816.7	1240.8	424.1	0.066	0.112	0.254
	@0.5% Cu cut-off	816.7	1023.4	206.7	0.088	0.140	0.348
	including	959.5	1023.4	63.9	0.096	0.178	0.429
	@0.5% Cu cut-off	1103	1132.6	29.6	0.049	0.114	0.204

MEX-141	@0.3% Cu cut-off	4032	4202	170	0.131	0.296	0.718
	@0.5% Cu cut-off	4032	4192	160	0.136	0.309	0.747
	including	4147	4182	35	0.158	0.352	0.957

MEX-142-W2	@0.3% Cu cut-off	3517.8	3675.3	157.5	0.125	0.325	0.664
	@0.5% Cu cut-off	3517.8	3626.1	108.3	0.134	0.345	0.730
	including	3532.7	3557.2	24.5	0.188	0.492	1.036
	@0.5% Cu cut-off	3655.6	3675.3	19.7	0.113	0.478	0.762

MEX-143	Total Min. Interval	619.9	1098.2	478.3	0.036	0.057	0.132
	@0.3% Cu cut-off	619.9	847.2	227.3	0.042	0.071	0.163
	@0.5% Cu cut-off	624.9	718.3	93.4	0.051	0.089	0.207
	@0.3% Cu cut-off	984.9	1078.6	93.7	0.045	0.063	0.151

MEX-146	@0.3% Cu cut-off	1111.9	1452.4	340.5	0.064	0.106	0.215
	@0.5% Cu cut-off	1111.9	1156.2	44.3	0.093	0.131	0.311
	@0.5% Cu cut-off	1200.5	1254.6	54.1	0.071	0.118	0.240
	@0.5% Cu cut-off	1388.4	1447.4	59	0.074	0.109	0.229

MEX-147	@0.3% Cu cut-off	3937	4107	170	0.114	0.224	0.524
	@0.5% Cu cut-off	3937	4062	125	0.137	0.265	0.628
	including	3937	4047	110	0.145	0.284	0.671

MEX-148	@0.3% Cu cut-off	1314.7	1668.9	354.2	0.075	0.122	0.266
	@0.5% Cu cut-off	1314.7	1496.6	181.9	0.094	0.154	0.335
	@0.5% Cu cut-off	1531.2	1545.8	14.6	0.138	0.232	0.494

MEX-149	Total Min. Interval	1166.1	1536	369.9	0.053	0.087	0.198
	@0.3% Cu cut-off	1166.1	1408.1	242	0.058	0.089	0.201
	@0.5% Cu cut-off	1166.1	1285.2	119.1	0.079	0.119	0.269
	including	1166.1	1216.3	50.2	0.106	0.144	0.357
	@0.5% Cu cut-off	1309.7	1344.2	34.5	0.062	0.093	0.230
	@0.3% Cu cut-off	1437.6	1501.6	64	0.063	0.114	0.264
	@0.5% Cu cut-off	1442.6	1501.6	59	0.066	0.119	0.275

MEX-150	@0.3% Cu cut-off	1083.4	1422.9	339.5	0.054	0.083	0.197
	@0.5% Cu cut-off	1181.8	1265.5	83.7	0.082	0.118	0.283

MEX-151	@0.5% Cu cut-off	4148	4193	45	0.145	0.248	0.656

MEX-152	@0.5% Cu cut-off	4263	4268	5	0.396	0.284	0.557
	@0.3% Cu cut-off	4293	4343	50	0.087	0.174	0.413

A "MEX-130 to 152 inclusive Drill Hole Map" highlighting these holes as well as other holes discussed in this release can be found on our Company website at www.duluthmetals.com.

For the 2008 drill program, half core samples have been prepared at ALS Chemex Ltd. laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a standard fire assay with an ICP finish and for 27 other elements using a four acid (near total) digestion and a combination of ICPMS and ICPAES. ICP over limits were re-analyzed using sodium peroxide fusion, acid dissolution followed by ICPAES. The remaining half core samples are being stored in Minnesota.

Duluth Metals is debt free with a strong cash position at approximately $14.7 Million as of September 30, 2008. The Company is continuing to focus on the long term development of the Nokomis Deposit which includes geological analysis, mine planning, project optimization and environmental baseline studies required for future permitting.

David Oliver, P. Geo. and Duluth Project Manager is the Qualified Person, 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 Nokomis Deposit 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: please contact 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. Minnesota corporate office: telephone 651-389-9990.

Web Page: www.duluthmetals.com

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