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Re: News Release - Thursday, February 14, 2008
Duluth Metals Continued Drilling Expands Nokomis Deposit
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TORONTO, Ontario, February 14, 2008 - Duluth Metals Limited ("Duluth
Metals") (TSX: DM) (TSX:DM.U) today announced significant assay results
for five in-fill and three step-out holes from its Maturi Extension
Properties in Minnesota. Highlights from the step-out drilling include
MEX-69 which intersected 137.8 feet of 0.661% copper and 0.200% nickel
with 0.861 grams per tonne (g/t) of Total Precious Metals (TPM Platinum+Palladium+Gold), including 19.7 feet of 1.583% copper, 0.696%
nickel, 1.529 g/t TPM and 3.0 g/t silver. Step-out hole MEX-73
intersected 108.2 feet of 0.638% copper, 0.177% nickel, 0.905 g/t TPM
and 2.1 g/t silver including 39.3 feet of 0.830% copper, 0.222 %
nickel, 1.110 g/t TPM and 2.4 g/t silver with a 14.7 foot section of
1.045% copper, 0.251 % nickel, 1.282 g/t TPM and 2.9 g/t silver.
The highlight in-fill hole was MEX-76 which intersected 220 feet of
0.615% copper, 0.203% nickel, 0.419 g/t TPM including 115 feet of 0.791
copper, 0.248% nickel and 0.547 g/t TPM with a 20 foot section of
0.962% copper, 0.306 % nickel and 0.693 g/t TPM.
"We are continuing with our aggressive 200,000 foot drilling program
with the objective of expanding our Nokomis Resource to the east and
south and completing closer spaced drilling within the Nokomis Resource
Block. The drill results are very encouraging as we continue to
intersect mineralization in every hole. We are extremely excited with
the elevated platinum, palladium and gold numbers and strong nickel
grades in our eastern area." stated Dr. Henry Sandri, President and
CEO. "We are proceeding further with step-out, in-fill and PQ
drilling."
Duluth is currently deploying five drills in an aggressive
Winter-Spring 2008 program. The program comprises in-fill and step-out
drilling to the existing large Nokomis Resource Block, and exploration
drilling to define new mineralization in the Eastern Exploration Area.
In November 2007, the Company added a fifth drill to accelerate the
program and commence large diameter drilling in the Nokomis Deposit to
start the production of bulk samples for further metallurgical testing.
A "MEX 69-76 Location Map" highlighting these eight holes can be found
on our Company website at www.duluthmetals.com.
View Map:
http://www.duluthmetals.com/i/misc/dm-feb142008.jpg
True thickness is estimated at about 90% of core length. Drill hole
MEX-71 was not completed with drilling suspended in mineralization due
to technical difficulties*. The following table with (0.3% copper and
0.5% copper cut-offs) contains a more detailed summary of the drill
intercepts:
HOLE ZONE FROM TO LENGTH COPPER NICKEL TPM*
(feet) (feet) (feet) (%) (%) (g/t)
MEX-69 at 0.3% Cu 4050.2 4188 137.8 0.661 0.200 0.861
cut-off
at 0.5% Cu 4050.2 4084.6 34.4 0.650 0.159 1.032
cut-off
at 0.5% Cu 4128.9 4148.6 19.7 1.583 0.696 1.529
cut-off
including 4133.8 4143.6 9.8 2.517 1.255 2.277
at 0.5% Cu 4168.3 4178.1 9.8 0.723 0.153 1.065
cut-off
MEX-70 at 0.3% Cu 3651.6 3750 98.4 0.501 0.141 1.300
cut-off
at 0.5% Cu 3651.6 3676.3 24.7 0.764 0.217 1.903
cut-off
including 3666.4 3671.3 4.9 1.253 0.274 2.724
at 0.5% Cu 3700.8 3710.6 9.8 0.725 0.210 2.248
cut-off
MEX-71* at 0.3% Cu 1083 1098 15 0.398 0.059 0.096
cut-off
at 0.5% Cu 3338 3378 40 0.741 0.216 1.759
cut-off
including 3348 3368 20 0.917 0.252 2.204
*SUSPENDED IN
MINERALIZATION
MEX-72 Mineralized 2723 2853 130 0.467 0.214 0.517
Interval
at 0.5% Cu 2743 2778 35 0.558 0.252 0.614
cut-off
at 0.5% Cu 2898 2923 25 0.881 0.231 1.049
cut-off
including 2918 2923 5 1.120 0.246 1.284
MEX-73 at 0.3% Cu 3946.8 4055 108.2 0.638 0.177 0.905
cut-off
at 0.5% Cu 3946.8 3971.5 24.7 0.759 0.222 1.205
cut-off
at 0.5% Cu 3991.2 4030.5 39.3 0.830 0.222 1.110
cut-off
including 4001 4015.7 14.7 1.045 0.251 1.282
MEX-74 Mineralized 3385.9 3568 182.1 0.360 0.101 0.502
Interval
at 0.3% Cu 3385.9 3430.3 44.4 0.772 0.223 1.222
cut-off
at 0.5% Cu 3385.9 3425.3 39.4 0.815 0.237 1.314
cut-off
including 3405.6 3415.4 9.8 1.093 0.298 1.589
MEX-75M Mineralized 1624 1879 255 0.550 0.175 0.406
Interval
at 0.5% Cu 1634 1664 30 0.718 0.253 0.627
cut-off
at 0.5% Cu 1679 1714 35 0.669 0.178 0.483
cut-off
at 0.5% Cu 1734 1789 55 0.611 0.186 0.437
cut-off
at 0.5% Cu 1814 1839 25 0.724 0.210 0.484
cut-off
including 1824 1829 5 1.130 0.286 0.716
at 0.5% Cu 1849 1874 25 0.661 0.223 0.467
cut-off
MEX-76 at 0.3% Cu 1943 2163 220 0.615 0.203 0.419
cut-off
at 0.5% Cu 1943 2058 115 0.791 0.248 0.547
cut-off
including 1953 1973 20 0.962 0.306 0.693
*Total Precious Metals = Platinum + Palladium + Gold
Complete gold, platinum, palladium and silver assays for MEX-69, 70,
71, 72, 73,74,75 and 76 are as follows:
HOLE ZONE FROM TO LENGTH GOLD PLATINUM
PALLADIUM
(feet) (feet) (feet) (g/t) (g/t) (g/t)
MEX-69 at 0.3% Cu 4050.2 4188 137.8 0.096 0.209 0.555
cut-off
at 0.5% Cu 4050.2 4084.6 34.4 0.148 0.278 0.606
cut-off
at 0.5% Cu 4128.9 4148.6 19.7 0.069 0.289 1.171
cut-off
including 4133.8 4143.6 9.8 0.057 0.358 1.862
at 0.5% Cu 4168.3 4178.1 9.8 0.158 0.258 0.649
cut-off
MEX-70 at 0.3% Cu 3651.6 3750 98.4 0.142 0.382 0.777
cut-off
at 0.5% Cu 3651.6 3676.3 24.7 0.191 0.549 1.164
cut-off
including 3666.4 3671.3 4.9 0.204 0.843 1.678
at 0.5% Cu 3700.8 3710.6 9.8 0.203 0.693 1.352
cut-off
MEX-71* at 0.3% Cu 1083 1098 15 0.023 0.028 0.046
cut-off
at 0.5% Cu 3338 3378 40 0.152 0.540 1.067
cut-off
including 3348 3368 20 0.187 0.681 1.336
*SUSPENDED IN
MINERALIZATION
MEX-72 Mineralized 2723 2853 130 0.068 0.138 0.311
Interval
at 0.5% Cu
cut-off 2743 2778 35 0.078 0.160 0.376
at 0.5% Cu
cut-off 2898 2923 25 0.168 0.280 0.601
including 2918 2923 5 0.266 0.326 0.692
MEX-73 at 0.3% Cu 3946.8 4055 108.2 0.139 0.221 0.545
cut-off
at 0.5% Cu 3946.8 3971.5 24.7 0.293 0.252 0.660
cut-off
at 0.5% Cu 3991.2 4030.5 39.3 0.130 0.275 0.705
cut-off
including 4001 4015.7 14.7 0.151 0.323 0.808
MEX-74 Mineralized 3385.9 3568 182.1 0.049 0.144 0.309
Interval
at 0.3% Cu 3385.9 3430.3 44.4 0.091 0.356 0.774
cut-off
at 0.5% Cu 3385.9 3425.3 39.4 0.098 0.383 0.834
cut-off
including 3405.6 3415.4 9.8 0.103 0.406 1.079
MEX-75M Mineralized 1624 1879 255 0.064 0.106 0.236
Interval
at 0.5% Cu 1634 1664 30 0.088 0.169 0.370
cut-off
at 0.5% Cu 1679 1714 35 0.084 0.123 0.276
cut-off
at 0.5% Cu 1734 1789 55 0.067 0.114 0.256
cut-off
at 0.5% Cu 1814 1839 25 0.081 0.123 0.280
cut-off
including 1824 1829 5 0.137 0.162 0.417
at 0.5% Cu 1849 1874 25 0.067 0.128 0.272
cut-off
MEX-76 at 0.3% Cu 1943 2163 220 0.059 0.107 0.253
cut-off
at 0.5% Cu 1943 2058 115 0.074 0.141 0.332
cut-off
including 1953 1973 20 0.069 0.202 0.422
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.
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
View News Release on Website:
http://www.duluthmetals.com/s/NewsReleases.asp?ReportID=286384
View News Release in PDF Format:
http://www.duluthmetals.com/i/pdf/2008-02-14_NR.pdf
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Copyright (c) 2008 DULUTH METALS LIMITED (DM) All rights reserved.
For more information visit our website at http://www.duluthmetals.com/
or send mailto:info@duluthmetals.com
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