Duran Ventures Inc.
TSX VENTURE : DRV

Duran Ventures Inc.

December 01, 2008 11:53 ET

Duran Ventures Third Quarter Financials and MD&A SEDAR Filed

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2008) - George A. Brown, CEO of Duran Ventures (TSX VENTURE:DRV) is pleased to provide the following highlights of the third quarter financials and MD&A to September 30, 2008 as filed on SEDAR November 28, 2008.

The Company had liquid assets of $3,010,480 at September 30, 2008 including cash of $1,436,693. Due to the completion of the amalgamation with MacMillan Gold Corp. on October 31, 2008, the September 30, 2008 working capital of $2,750,655 was subsequently reduced by the $1,496,876 reported as due from exploration partner and increased by $1,000,000 in cash representing the minimum matching working capital contributed by MacMillan Gold in the amalgamation.

The amalgamation with MacMillan Gold resulted in the issue of 31,027,375 additional shares of Duran Ventures resulting in 58,861,518 issued and outstanding at October 31, 2008. The Company feels that this increase in shares is positively offset by now owning 100% of the Peru properties and the elimination of the potential 5% NSR royalty that no longer exists.

The balance sheet value of the Peru exploration properties increased by $1,496,876 in the nine month period ending September 30, 2008. This amount being reported is after netting $1,496,876 as the 50% of expenditures in Peru due from exploration partner, MacMillan Gold. The effect of the October 31, 2008 amalgamation is that the Peru expenditures to September 30, 2008 by Duran Ventures were actually $2,993,752.

Drilling is ongoing at the Pasacancha Ag-Au-Pb-Zn Target. Surface work will focus on developing additional Aguila style targets in the immediate Aguila Main area (i.e. Aguila East and Aguila SW targets) and elsewhere on the 9,800 hectare exploration land position in Ancash, Peru. Our goal is to advance one or more of these additional Aguila style targets to drill ready by the first quarter of 2009. The Company will also be developing the Santa Rosa Gold Target to drill ready by the first quarter of 2009. The Company intends to temporarily suspend drilling at the Aguila Main Cu-Mo Target after completion of current hole 14 in order to preserve working capital during the current poor markets for equity financing of exploration companies.

Management feels strongly that commodity price cycles are unavoidable but that resources in the ground will outlast any commodity cycle. Our goal continues to be the expansion of our numerous Cu-Mo-Au-Ag-Pb-Zn targets in Peru for an eventual sale or corporate transaction with a producing resource company.

Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "DRV".

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

Contact Information