TORONTO, June 8 /PRNewswire-FirstCall/ - Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) is pleased to announce that the Duluth Metals Annual and Special Meeting of Shareholders will be held at the Toronto Board of Trade, 1 First Canadian Place, Toronto on Tuesday June 15, 2010 at 10:00am EST. An archived copy of the presentation will also be available on the Company website at www.duluthmetals.com after the meeting.
The meeting will include an update presentation on the Nokomis Project in northeast Minnesota, USA. In January 2010, the Company announced it had signed a binding heads of agreement with Antofagasta plc on a joint venture development of the Nokomis Project. The joint venture provides the execution and financing capabilities required to aggressively advance this promising copper-nickel-platinum-palladium-gold development project to production. Currently Duluth Metals is continuing to work on completing the definitive shareholders agreement with Antofagasta plc which is expected to be signed by the end of June. The Company is continuing to advance their primary asset, the combined base and precious metal Nokomis Deposit, which contains 550 million tonnes of Indicated Resources grading 0.639% copper, 0.200% nickel, 0.660 grams per tonne TPM (TPM = Pt + Pd + Au) for a copper equivalent (CuEq) grade of 1.51%, plus an additional 274 million tonnes of Inferred Resources grading 0.632% copper, 0.207% nickel, 0.685 grams per tonne TPM for a CuEq grade of 1.53%.
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. On January 14, 2010, Duluth announced the signing of a binding heads of agreement with Antofagasta plc on a joint venture development of the Nokomis Deposit. 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.
SOURCE Duluth Metals Limited