Duluth Metals Acquires Surface Rights on Additional Lands
TORONTO, May 2 /PRNewswire-FirstCall/ -- Duluth Metals Limited ("Duluth Metals") (TSX:DM) (TSX:DM.U) today announced that Duluth Metals Corp., through its wholly owned subsidiary, Sky Blue Waters Land Company, has signed a purchase arrangement on surface rights of up to 1,320 additional acres near its Maturi Extension Properties. These lands are part of Duluth Metals' continuing land acquisition program in association with the planning and development of the Nokomis Deposit near Ely, Minnesota.
The Nokomis Deposit contains 347 million tonnes of Indicated Resources grading 0.62% copper, 0.20% nickel, 0.52 grams per tonne of total precious metals (TPM Platinum+Palladium+Gold), and an additional 108 million tonnes of Inferred Resources grading 0.64% copper, 0.18% nickel, 0.70 grams per tonne of TPM. An Interim Resource Estimate, reflecting additional drilling since May 2007 on the Nokomis Deposit, is currently being prepared by Roscoe Postle Associates ("Scott Wilson RPA"), and is scheduled to be available later this month. 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 Metals is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals' 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 Metals' 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 Metals' 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 Metals 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. Web Page: www.duluthmetals.com
CONTACT: Mara Strazdins, Director of Corporate Communications, at
2008-05-02 17:32:40 0351830 PRNEWSWIRE
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