TORONTO, July 9, 2012 /PRNewswire/ --
Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) is pleased to announce the appointment of Mr. Kelly J. Osborne as its Chief Operating Officer (COO). Mr. Osborne is a mining executive with over twenty-eight years of industry experience in the United States and Indonesia with major US based mining companies including Freeport-McMoRan, Vulcan Materials and Stillwater Mining Company.
Prior to his appointment to Duluth Metals, Mr. Osborne was Senior Vice-President, Underground Operations (Indonesia) with Freeport-McMoRan Copper & Gold, and prior to that from 2006 to 2010, Vice-President, Underground Operations (Indonesia). During his tenure with Freeport, Kelly was responsible for operational and capital development for two underground mines, including a multi-billion dollar capital budget for underground mine expansion, a substantial annual operating budget, and led a large multi-national workforce. Prior to Freeport-McMoRan, he was Area Manager with Vulcan Materials Company in the Chicago area, and was responsible for three mining operations producing construction aggregate products. Prior to that, he was Mining Superintendent at the Nye, Montana PGM mine for Stillwater Mining Company; Plant Manager for J.M. Huber Corporation at the Marble Falls, Texas calcium carbonate operation; Buick Mine Captain at the Doe Run Company lead-zinc underground mine; and Mine Planning Engineer at Homestake Mining Company's Lead, South Dakota operations.
Christopher Dundas, CEO & Chairman of Duluth Metals commented, "Kelly Osborne brings to Duluth Metals a unique set of credentials from his senior development and operations background with Freeport-McMoRan in Indonesia. Kelly was leading the development group in moving Grasberg from an open-pit to a large underground operation. With this appointment, Duluth Metals has greatly enhanced its mining and development team."
Vern Baker, President of Duluth Metals, stated, "Kelly Osborne's operational and management expertise in large scale underground mining and capital development will be a major asset to Duluth Metals. Kelly's input on the planning and development of our key asset (a proposed underground copper-nickel-platinum group mining project in Minnesota), as well as his insight on new projects arising from the exploration pipeline will strengthen the company. Kelly's experience in organizational development and in safety, health, and environmental systems will also help move our projects forward."
Mr. Osborne holds a BS Mine Engineering degree from the University of Arizona and belongs to the Society of Mining Engineers as well as the Society of Explosive Engineers. While in charge of operations, Freeport received the NOSA Five Star award for underground operations from 2006 to 2009. Kelly is originally from Minnesota, and is pleased at the opportunity to return and contribute to the state.
About Duluth Metals Limited
Duluth Metals Limited is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint venture with Antofagasta plc on the Twin Metals Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern 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. Aside from the joint venture, Duluth Metals retains a 100% position on approximately 40,000 acres of mineral interests on exploration properties adjacent to and nearby the Twin Metals Minnesota LLC joint venture.
This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the results of drilling operations of Duluth Metals and exploration and mine development. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Duluth Metals has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the prices of copper, nickel and platinum group metals (PGMs) and the costs associated with continuing exploration and mining development. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be refined, the ability to execute planned exploration and future drilling programs, possible variations of copper, nickel and PGM grade or recovery rates, the need for additional funding to continue exploration efforts, changes in general economic, market and business conditions, and those other risks set forth in Duluth Metals' most recent annual information form under the heading "Risk Factors" and in its other public filings. Statements related to "reserves" and "resources" are deemed forward-looking statements as they involve the implied assessment, based on realistically assumed and justifiable technical and economic conditions, that an inventory of mineralization will become economically extractable. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Duluth Metals. Although Duluth Metals has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof. 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. The forward-looking statements contained herein are expressly qualified by this disclaimer.
For further information:
Director of Corporate Communications
Telephone: +1(416)369-1500 ext. 222
SOURCE Duluth Metals Limited