Duran Ventures Inc.
TSX VENTURE : DRV

Duran Ventures Inc.
MacMillan Gold Corp.
TSX VENTURE : MMG

MacMillan Gold Corp.

October 16, 2008 13:21 ET

Duran Ventures and MacMillan Gold Arrangement Approved by Shareholders and by the Court

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2008) - George A. Brown, CEO of both Duran Ventures Inc. (TSX VENTURE:DRV) and MacMillan Gold Corp. (TSX VENTURE:MMG), is pleased to provide the following update on the Arrangement as fully described in the Joint Information Circular dated September 12, 2008 as filed on SEDAR.

At a Special Meeting of shareholders of MacMillan Gold Corp. (TSX VENTURE:MMG) held on October 14, 2008, shareholders approved by over 99% two special resolutions. The first was to continue MacMillan Gold under the Business Corporations Act (Alberta). This was applied for immediately after the vote and a Certificate of Continuance was issued on October 14, 2008. The second was to authorize the completion of the Arrangement as described in the Joint Information Circular. All steps to this process are expected to be completed by October 31, 2008 and are described below. MacMillan Minerals Inc. is preparing a prospectus filing for submission to the Ontario Securities Commission in early November to become a reporting issuer. This submission cannot be made until the Arrangement described below is completed by October 31, 2008. The clearing of the prospectus will result in a listing application by MacMillan Minerals Inc. on the TSX Venture.

At a Special Meeting of shareholders of Duran Ventures Inc. (TSX VENTURE:DRV) also held on October 14, 2008, shareholders approved four special resolutions in addition to electing the directors and appointing the auditors. A shareholder rights plan was approved which will be put into place later this month. The continuance of the existing 10% rolling stock option plan was approved. The application for continuing the plan was delivered to the TSX Venture on October 16, 2008. Shareholders approved the continuance of Duran under the Canada Business Corporations Act. Application for continuance is being prepared to be submitted today in B.C. The fourth was to authorize the completion of the Arrangement as described in the Joint Information Circular. All steps to this process are expected to be completed by October 31, 2008 and are described below.

The Arrangement is subject to Court approval and TSX Venture final approval. The Final Order of the Court was issued on October 15, 2008 as scheduled. The Court has approved completion of the Arrangement on or by Friday October 31, 2008. The TSX Venture has provided conditional approval and final approval requires that the companies first complete the Transfer Agreement of properties and assets from MacMillan Gold to MacMillan Minerals Inc., the issue of MacMillan Minerals shares to MacMillan Gold shareholders, the amalgamation of MacMillan Gold with Duran Resources ULC, and the issue of Duran shares to MacMillan Gold shareholders. All of the above are scheduled to occur on or by October 31, 2008 as per the Final Order of the Court. We have requested that the last day of trading of MacMillan Gold Corp. be at the end of trading on Friday October 24, 2008. The record date for MacMillan Gold shareholders to receive shares of MacMillan Minerals and Duran Ventures will therefore be October 29, 2008 allowing for the three days settlement after October 24 trades.

We anxiously look forward to a bright future for Duran Ventures Inc. with 100% ownership of the Peru properties in one company with no underlying royalties and the new listing of MacMillan Minerals Inc. which will continue to explore for precious minerals in Mexico on over thirty properties of geological merit.

Investors are invited to visit the MacMillan Gold IR Hub at www.agoracom.com/IR/MacMillan where they can post questions and receive answers or review existing questions and answers. Investors may also email questions or request to be added to the investor email list at MMG@agoracom.com

Duran Ventures Inc. and MacMillan Gold Corp .are Canadian resource companies
listed on the TSX Venture Exchanges: Symbols "DRV" & "MMG"

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

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