Duran Ventures Inc.

Duran Ventures Inc.

January 05, 2007 12:21 ET

Duran Corporate Update

TORONTO, ONTARIO--(CCNMatthews - Jan. 5, 2007) - Glenn O'Gorman, President of Duran Ventures Inc. (NEX:DRV.H) is pleased to announce that Duran has completed the $500,000 private placement with terms as news released December 15, 2006, subject to regulatory approvals. The close is expected to be the earlier of TSX Venture listing or February 16, 2007.

Duran has also received $150,000 from the exercise of 600,000 warrants at $0.25 expiring February 16, 2007 in the quarter ending December 31, 2006. Duran expects to receive in the current quarter all or most of the $683,333.25 from the exercise of the remaining 2,733,333 warrants at $0.25 exercisable until February 16, 2007.

The proceeds from the private placement and warrant exercise will meet the TSX Venture listing working capital requirements and fund the remaining portion of the US$1,000,000 required expenditure earn-in for Duran to hold a 50% interest in the Aguila Project in Ancash Peru.

In December 2006, Duran issued to MacMillan Gold Corp. (TSX VENTURE:MMG) the required 1,000,000 shares of Duran (news release December 18, 2006) and notified MacMillan that Duran intends to complete the 50% earn-in prior to December 31, 2007. The Aguila Project includes the Aguila Main Target (news releases October 18 & 23, 2006), Aguila East Target (never been drilled), and the recently discovered Pasacancha Gold & Silver Target (news release November 7, 2006). Additional assay results from underground sampling at the Pasacancha Target are expected to be news released prior to the Vancouver Resource Investment Conference held at the Vancouver Convention and Exhibition Centre on January 21 & 22, 2007. Senior management from Duran will be exhibiting at this show.

Duran also received $100,000 cash and 200,000 of the 500,000 shares of Rampart Ventures Ltd.(TSX-V:RPT) due as part of the 70% earn-in by Rampart in the currently 100% Duran owned Miller Creek Uranium Project in the Athabasca Basin in Saskatchewan. Rampart are required to complete $400,000 of the total $3,000,000 exploration expenditure earn-in by February 10, 2008. The 200,000 shares with a book value of $64,000 will be reported as revenue by Duran in the quarter ending December 31, 2006 since the $100,000 cash option payment received offset all of the deferred property costs for Miller Creek.

Duran Ventures Inc. is located at 350 Wellington Street West, Suite G-19, Toronto, Ontario M5V 3W9

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.

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