The risk with making another submission is that the marker may be sympathetic with a 1 minute lateness than seeing you have made a further submission well after the due time.
It's also hard to tell whether you can actually make any changes that can actually re-cooperate that loss. Students who take pride in their work will know they've submitted their best piece of work, so any changes may actually make it worse than the current submission.
But of course if you have left it that late, it probably isn't your best piece of work. Also, if you have left it that late, maybe a 10% hit will make you realise that time management is important, not only at uni, but in life as well.