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Duluth Metals Limited Inc.

Publié le 04 mars 2008

Hits Higher Grade Mineralization In Eastern Area

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Mots clés associés :   Copper | Nickel | Palladium | Precious Metals |

Re:        News Release - Tuesday, March 04, 2008
Title:     Duluth Metals Hits Higher Grade Mineralization In Eastern Area

TORONTO, Ontario, March 4, 2008 - Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) today announced it had intersected higher grade mineralization in four holes in the Eastern Area of the Maturi Extension Properties in Minnesota. Holes MEX -77, 78, 80 and 82 confirm the presence of higher grade mineralization in parts of the Eastern Area, relative to that in the initial NI 43-101qualified Nokomis Resource. (See press release dated June 26, 2007.) In comparing only these four holes, MEX-77, 78, 80 and 82 in our Eastern Area, (using a 0.5% copper cut-off), returned an average 40% increase in the copper grade, a 26% increase in the nickel grade, a 154% increase in the gold grade, a 222% increase in the platinum grade, a 220% increase in the palladium grade and a 211% increase in the TPM grades relative to the average grade of the Indicated Resource portion of the overall Nokomis Resource.

Of particular note is Hole MEX-78 which returned 123.1 feet of 0.905% copper and 0.264% nickel with 1.426 grams per tonne (g/t) of Total Precious Metals (TPM = Platinum+Palladium+Gold) and 3.7 g/t silver, including 113.3 feet of 0.941% copper, 0.274% nickel, 1.513 g/t TPM and 3.8 g/t silver, with a 49.2 foot section of 1.167% copper, 0.351 % nickel, 1.781 g/t TPM and 4.2 g/t silver. Hole MEX-80 intersected 88.6 feet of 0.689% copper, 0.209% nickel, 1.882 g/t TPM and 3.5 g/t silver including 49.2 feet of 0.916% copper, 0.258 % nickel, 2.361 g/t TPM and 4.8 g/t silver with a 14.9 foot section of 1.262% copper, 0.380 % nickel, 3.795 g/t TPM and 8.3 g/t silver. Hole MEX-77 was not completed due to technical problems but was suspended in higher grade mineralization returning 40 feet of 0.929% copper, 0.269% nickel and 2.379 g/t TPM including 30 feet of 1.030% copper, 0.294% nickel and 2.690 g/t TMP.

"The drilling results verify a significant increase in platinum, palladium and gold numbers as well as strong copper and nickel grades in our Eastern Area" stated Dr. Henry Sandri, President and CEO. "The four Eastern holes in this press release continue to demonstrate the higher tenor of the Eastern Area drill results, in comparison to the overall Nokomis grades. Marked increased grades in all metals have been, in general, a defining event of the Eastern Area."

Two additional holes, MEX 79 and 83, were also completed immediately south of and along the boundary of the Nokomis Resource Block in the western area of the property. Highlights include MEX-83 which intersected 105.5 feet of 0.632% copper, 0.176% nickel and 0.822 g/t TPM including 65.5 feet of 0.742% copper, 0.192 % nickel and 0.950 g/t TPM with a 10.0 foot section of 1.020% copper, 0.222 % nickel and 1.174 g/t TPM.

"We are proceeding further with our aggressive 200,000 foot drilling program to complete-fill and step-out drilling to the existing large Nokomis Resource Block, and exploration drilling to define new mineralization in the Eastern Exploration Area", stated Dr. Sandri.

A "MEX 77-83 Location Map" highlighting these holes can be found on our Company website at www.duluthmetals.com.

MEX 77-83 Location Map

Click to enlarge

True thickness is estimated at about 90% of core length. Drill hole MEX-77 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:

  MEX-77 @0.5% Cu cut-off 3318 3358 40 0.929 0.269 2.379
    including 3328 3358 30 1.030 0.294 2.690
    *Hole not Completed-
Suspended in
  MEX-78 @0.3% Cu cut-off 3700.8 3823.9 123.1 0.905 0.264 1.426
    @0.5% Cu cut-off 3710.6 3823.9 113.3 0.941 0.274 1.513
    including 3720.5 3769.7 49.2 1.167 0.351 1.781
    @0.5% Cu cut-off 3809 3823.9 14.9 1.152 0.307 1.877
  MEX-79 @0.3% Cu cut-off 2806 2888 82 0.563 0.202 0.701
    @0.5% Cu cut-off 2818 2863 45 0.658 0.229 0.852
  MEX-80 @0.3% Cu cut-off 4005.8 4094.4 88.6 0.689 0.209 1.882
    @0.5% Cu cut-off 4045.2 4094.4 49.2 0.916 0.258 2.361
    including 4055 4069.9 14.9 1.262 0.380 3.795
  MEX-82 @0.3% Cu cut-off 3169.4 3223.6 54.2 0.658 0.199 0.838
    @0.5% Cu cut-off 3169.4 3213.8 44.4 0.735 0.225 0.938
    including 3194.1 3208.8 14.7 0.995 0.282 1.238
    @0.3% Cu cut-off 3326.9 3390.9 64 0.346 0.101 0.313
  MEX-83 @0.3% Cu cut-off 2882.5 2988 105.5 0.632 0.176 0.822
    @0.5% Cu cut-off 2882.5 2948 65.5 0.742 0.192 0.950
    including 2903 2913 10 1.020 0.222 1.174
    and 2933 2938 5 1.070 0.185 1.077
*Total Precious Metals = Platinum+Palladium+Gold

Complete gold, platinum, and palladium assays for MEX-77, 78, 79, 80, 82 and 83 are as follows:

  MEX-77 @0.5% Cu cut-off 3318 3358 40 0.211 0.792 1.375
    including 3328 3358 30 0.229 0.898 1.563
    *Hole not Completed-
Suspended in
  MEX-78 @0.3% Cu cut-off 3700.8 3823.9 123.1 0.170 0.359 0.897
    @0.5% Cu cut-off 3710.6 3823.9 113.3 0.180 0.381 0.952
    including 3720.5 3769.7 49.2 0.155 0.478 1.148
    @0.5% Cu cut-off 3809 3823.9 14.9 0.391 0.438 1.048
  MEX-79 @0.3% Cu cut-off 2806 2888 82 0.104 0.179 0.418
    @0.5% Cu cut-off 2818 2863 45 0.133 0.217 0.502
  MEX-80 @0.3% Cu cut-off 4005.8 4094.4 88.6 0.292 0.462 1.127
    @0.5% Cu cut-off 4045.2 4094.4 49.2 0.281 0.622 1.458
    including 4055 4069.9 14.9 0.442 0.975 2.378
  MEX-82 @0.3% Cu cut-off 3169.4 3223.6 54.2 0.099 0.236 0.503
    @0.5% Cu cut-off 3169.4 3213.8 44.4 0.106 0.267 0.565
    including 3194.1 3208.8 14.7 0.141 0.327 0.769
    @0.3% Cu cut-off 3326.9 3390.9 64 0.039 0.080 0.194
  MEX-83 @0.3% Cu cut-off 2882.5 2988 105.5 0.102 0.217 0.503
    @0.5% Cu cut-off 2882.5 2948 65.5 0.114 0.248 0.588
    including 2903 2913 10 0.143 0.273 0.759
    and 2933 2938 5 0.134 0.176 0.767

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.

Currently five drills are turning on the property. Large diameter PQ drilling is also continuing with the objective of providing large bulk sample material for further metallurgical test work.

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

Copyright © 2008 DULUTH METALS LIMITED (DM) All rights reserved. For more information visit our website at http://www.duluthmetals.com/ or send email to info@duluthmetals.com ..
Message sent on Tue Mar 4, 2008 at 6:55:41 AM Pacific Time

Duluth Metals Limited Inc.

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Duluth Metals est une société d’exploration minière de nickel et de palladium basée au Canada.

Duluth Metals est en développement de projets de nickel, de palladium, de cobalt, de cuivre, d'or, de platine et de plomb en USA, et détient divers projets d'exploration au Canada.

Son principal projet en développement est BIRCH LAKE en USA et son principal projet en exploration est NOKOMIS au Canada.

Duluth Metals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 63,1 millions CA$ (50,9 millions US$, 44,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 4,07 CA$, et son plus bas niveau récent le 31 octobre 2014 à 0,06 CA$.

Duluth Metals possède 141 880 000 actions en circulation.

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