DULUTH METALS (DULMF US $0.296, rated Overweight,$2 to$5 price target with no models) PRELIMINARY FEASIBILITY STUDY NOT ACCEPTABLE OWING TO ORE GRADE MEASUREMENT, RECOVERY RATES OTHER THAN COPPER TOO LOW, SCALE OF OPERATION AND EXCESS CAP EX 8/22/2014

DULUTH METALS (DULMF US $0.296, rated Overweight,$2 to$5 price target with no
models) PRELIMINARY FEASIBILITY STUDY NOT ACCEPTABLE OWING TO
ORE GRADE MEASUREMENT, RECOVERY RATES OTHER THAN COPPER TOO
LOW, SCALE OF OPERATION AND EXCESS CAP EX 8/22/2014