Duluth Metals Inc.

On January 20, 2015, Antofagasta plc completed the friendly acquisition of Duluth Metals Limited, pursuant to which Antofagasta acquired all of the outstanding shares of Duluth for C$0.45 per share. Prior to the acquisition, Antofagasta and Duluth Metals were partners in the Twin Metals Minnesota joint venture, a proposed underground copper-nickel mining project in northeast Minnesota, USA.

For general investor inquiries regarding the Antofagasta acquisition of Duluth Metals, please see the Antofagasta Investor Relations contact page at: http://www.antofagasta.co.uk/investors/investor-contact.aspx.

In order to receive the cash consideration in exchange for their Duluth shares, shareholders whose Duluth shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or other intermediary or nominee should contact that intermediary or nominee for assistance in depositing their Duluth shares and should follow the instructions of such intermediary or nominee in order to make their election and deposit their Duluth shares.

Registered shareholders must complete, sign, date and return the Letter of Transmittal that was mailed to each registered shareholder. The Letter of Transmittal is also available from Duluth's depositary, Equity Financial Trust Company, by telephone at: (i) 1 (866) 393-4891 (North American Toll Free); or (ii) under Duluth's issuer profile on SEDAR at www.sedar.com.

Any other inquiries from Duluth Metals shareholders should be directed to Rami Chalabi, Associate, Bennett Jones, at: 416-777-6156.

For further information on the Twin Metals Minnesota Project, please see: http://www.twin-metals.com.