Duluth Metals Announces Private Placement of Common Shares to Wallbridge Mining Company

TORONTO, January 28 - Duluth Metals Limited ("Duluth") (TSX: DM) (TSX:DM.U) announced today
it has completed the private placement of 7,456,420 common shares to
Wallbridge Mining Company ("Wallbridge"), at a price of CDN $2.00 per share,
resulting in gross proceeds to Duluth of approximately CDN $14.9 million.
The shares were issued to Wallbridge pursuant to a pre-emptive right
previously granted by Duluth which gives Wallbridge the right to
participate under certain circumstances in future issuances of common
shares of Duluth. Wallbridge's pre-emptive right, which Wallbridge
exercised in full, resulted from the private placement of 6 million common
shares at a price of CDN $2.00 per share to Antofagasta plc ("Antofagasta")
on January 14, 2010.

As a result of the issuance of shares to Wallbridge, Antofagasta has
the right to purchase up to 550,939 common shares of Duluth at a price of
CDN $2.00 per share, pursuant to a pre-emptive right granted by Duluth to
Antofagasta pursuant to the January 14, 2010 private placement, which gives
Antofagasta the right to participate under certain circumstances in future
issuances of common shares of Duluth.

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 Property located within the rapidly emerging Duluth Complex
mining camp in northeast 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.

For further information: Mara Strazdins, Director of Corporate
Communications, +1(416)369-1500, mstrazdins@duluthmetals.com; Dr. Henry J.
Sandri, President and CEO, +1(651)389-9990, hsandri@duluthmetals.com; Web
Page: www.Duluthmetals.com

For further information: Mara Strazdins, Director of Corporate Communications, +1(416)369-1500, mstrazdins at duluthmetals.com; Dr. Henry J. Sandri, President and CEO, +1(651)389-9990, hsandri at duluthmetals.com; Web Page: www.Duluthmetals.com