Duluth Metals Ltd DULMF

RE:25% Option Exercise Price

[rationalinvest]

PS. The Heads of Agreement dated 14 Jan 2010 also states (section 5.3) states, regarding to NPV:

“The guiding principle of the BFS will be to maximize the NPV of the BFS Project to JVCo, in a matter consistent with mining industry best practices, long term optimization of design, technical, environmental and operating parameters and the treatment of the then mineral reserves of the BFS Project.”