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Duluth Metals Announces Twin Metals Minnesota Contract

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Duluth Metals Limited (DM.TO) announced that Twin Metals Minnesota LLC has retained Bechtel Mining & Metals, a member of the engineering, construction and project management group, as the lead consultant for the Prefeasibility Study on the proposed Twin Metals underground copper, nickel and platinum group (palladium, platinum and gold) project located in northern Minnesota. The Twin Metals Project, a joint venture between Duluth Metals and Antofagasta plc includes approximately 25,000 acres of land/mineral interests in the Duluth Complex, and four NI 43-101 compliant Mineral Resources: the Spruce Road, Nokomis, Maturi, and Birch Lake Deposits.

For the Twin Metals Project, Bechtel will designate a project team from their world wide staff with key personnel re-locating to St. Paul, Minnesota. Antofagasta has a 40% interest in Twin Metals which it will maintain through providing US$130 million of funding through a three year period as of July 2010.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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