DRV Duran Ventures Inc.

Duran Ventures Inc. (TSX VENTURE:DRV)(BVL:DRV) ("Duran" or the "Company") is
pleased to announce that it has signed the definitive agreement (the
"Agreement") with Rio Alto Mining Limited ("Rio Alto") whereby Duran has granted
to Rio Alto options pursuant to which it may earn up to a 70% interest in the
Company's Minasnioc Gold-Silver Property ("Minasnioc") and a 65% interest in the
Company's Ichuna Copper-Silver Property ("Ichuna").


"I'm very excited to have Rio Alto, an established mining company in Peru, as a
partner in the Minasnioc and Ichuna projects" stated Mr. Jeffrey Reeder, CEO and
President of Duran. "This reinforces Duran's strategy of introducing strong
partners to explore and develop our inventory of properties and provide an
underlying stream of option payments". 


The Minasnioc property covers 3800 hectares and is located in the Department
Huancavelica, approximately 300 kilometres southeast of Lima, Peru. The
Minasnioc property has seen previous intensive exploration campaigns by Barrick
Gold Corporation ("Barrick") and Compania de Minas Buenaventura S.A.C
("Buenaventura") between 2001 and 2004, which included surface channel sampling
and drilling. Duran recently acquired the historical geological and drill data
from Barrick.


Under the terms of the Agreement, Rio Alto has the option to acquire a 51%
interest in Minasnioc within a three (3) year period by performing all necessary
exploration work in order to define a sufficient mineral resource to justify an
economic assessment, and making a payment to Duran of $500,000. Rio Alto may
earn an additional 19% interest in Minasnioc within the subsequent two (2) year
period by completing permitting and preparation of a study required for a
production decision, which will trigger a payment to Duran of $500,000. 


The Ichuna property is located 120 kilometres northeast of Arequipa in the
Department of Moquegua in Southern Peru and adjacent to the gold-silver
Chucapaca Project of Gold Fields Limited and Buenaventura. The Chucapaca Project
hosts the Canahuire Zone which is located less than 3 kilometres from the
southern boundary of the Ichuna Property. The resource on the Canahuire Zone was
reported to contain 132.7 million tonnes at 1.4 g/t Au, 10.4 g/t Ag and 0.09% Cu
for a total of 7.6 million ounces gold equivalent (source
http://goldfields.co.za).


Under the terms of the Agreement, Rio Alto has the option to earn a 65% interest
in Ichuna by incurring a total of US$8,000,000 in exploration costs within a
four (4) year period, which shall include a drill program of 8,000 metres, of
which a minimum of 4,000 metres must be drilled in the first year. In addition,
Rio Alto must make a payment to Duran of $500,000 within the four (4) year
period in order to complete their earn-in rights. 


In order to maintain their Minasnioc and Ichuna property option earn-in rights
Rio Alto must also exercise 100% of the warrants included in the private
placement financing ("Private Placement") previously announced on October 1,
2012 (see Duran press release on the Company's website at
http://duranventuresinc.com/news/PressRelease_RAM_private_placement_September_2012_final.pdf).
The Private Placement consisted of five million (5,000,000) units (the "Units")
of Duran at a price of Cdn$0.15 per Unit for an aggregate subscription price of
Cdn$750,000, with each such Unit comprised of one common share of Duran (the
"Common Shares") and two half warrants; the "Series A Warrants" and the "Series
B Warrants". Each whole Series A Warrant shall be exercisable to acquire one
Common Share at an exercise price of Cdn$0.25 per share until the date that is
the earlier of (i) March 28, 2014, and (ii) the date that is thirty (30) days
following the date notice is given to Rio Alto that the Common Shares have
closed at or above the price of Cdn$0.25 per share for a period of 20
consecutive trading days on the TSX Venture Exchange (the "TSXVE") so long as
such period occurs after September 28, 2013. Each whole Series B Warrant shall
be exercisable to acquire one Common Share at an exercise price of Cdn$0.35 per
share until the date that is the earlier of (i) March 28, 2015, and (ii) the
date that is thirty (30) days following the date notice is given to Rio Alto
that the Common Shares have closed at or above the price of Cdn$0.35 per share
for a period of 20 consecutive trading days on the TSXVE so long as such period
occurs after September 28, 2014. In the event that Rio Alto is precluded from
exercising the warrants due to trading restrictions imposed pursuant to
applicable securities laws or by Duran under any applicable policy respecting
restrictions on trading in its securities, the expiry dates of the Series A
Warrants and Series B Warrants may be extended for a period of ten (10) business
days from the end of any such restricted period (subject to regulatory
approvals).


Upon Rio Alto earning the interests in the Minasnioc and Ichuna properties, the
parties will form a joint venture in accordance with their respective interests
to further develop the properties.


Duran is a Canadian exploration company focused on the exploration and
development of porphyry copper, precious metal, and polymetallic deposits in
Peru. The Company's principal project is the Aguila Copper-Molybdenum Porphyry
Project with related silver-lead-zinc mineralization.


Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture
Exchange and the Bolsa de Valores de Lima: Symbol "DRV".


Disclosure Regarding Forward-Looking Statements: This press release contains
certain "Forward-Looking Statements" within the meaning of applicable securities
legislation. We use words such as "might", "will", "should", "anticipate",
"plan", "expect", "believe", "estimate", "forecast" and similar terminology to
identify forward looking statements and forward-looking information. Such
statements and information are based on assumptions, estimates, opinions and
analysis made by management in light of its experience, current conditions and
its expectations of future developments as well as other factors which it
believes to be reasonable and relevant. Forward-looking statements and
information involve known and unknown risks, uncertainties and other factors
that may cause our actual results to differ materially from those expressed or
implied in the forward-looking statements and information and accordingly,
readers should not place undue reliance on such statements and information.
Risks and uncertainties that may cause actual results to vary include but are
not limited to the speculative nature of mineral exploration and development,
including the uncertainty of resource estimates; operational and technical
difficulties; the availability to the Company of suitable financing
alternatives; fluctuations in copper and molybdenum and other commodity prices;
changes to and compliance with applicable laws and regulations, including
environmental laws and obtaining requisite permits; political, economic and
other risks arising from our Peruvian activities; fluctuations in foreign
exchange rates; as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and Analysis and
in other filings made by us with Canadian securities regulatory authorities and
available at www.sedar.com. While the Company believes that the expectations
expressed by such forward-looking statements and forward-looking information and
the assumptions, estimates, opinions and analysis underlying such expectations
are reasonable, there can be no assurance that they will prove to be correct. In
evaluating forward-looking statements and information, readers should carefully
consider the various factors which could cause actual results or events to
differ materially from those expressed or implied in the forward looking
statements and forward-looking information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Duran Ventures Inc.
Jeffrey Reeder
(416) 867-1591
info@duranventuresinc.com
www.duranventuresinc.com

Duran Ventures Inc. (TSXV:DRV)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Duran Ventures Inc. (TSXV:DRV)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024