Duran Ventures Inc.

Duran Ventures Inc.

December 06, 2006 13:19 ET

Duran Announces Private Placement Financing & OTC Security Listing

TORONTO, ONTARIO--(CCNMatthews - Dec. 06, 2006) - Glenn O'Gorman, President of Duran Ventures Inc. (NEX:DRV.H) is pleased to announce a proposed private placement financing, subject to regulatory approvals.

There are currently 14,348,660 common shares issued and outstanding. There are also 3,033,333 warrants exercisable until February 16, 2007 at $0.25. There are currently no stock options granted under Duran's stock option plan.

Duran's board has approved a private placement financing of up to $500,000. The financing consists of shares at $0.25 with a full warrant exercisable for twelve months at $0.35 The warrant would be exercisable for an additional twelve months at $0.50 subject to regulatory approval and listing on the TSX Venture Exchange. This would result in up to 2,000,000 shares and up to 2,000,000 warrants being issued, subject to regulatory approvals. Finder's fees in cash and or shares as allowed by the regulatory authorities may be paid pertaining to this private placement.

The private placement financing has been subscribed to by all six directors as follows:

George A. Brown CEO and Director 100,000 units
Glenn O'Gorman, P.Eng. President and Director 20,000 units
David Bending, P.Geo. VP and Director 20,000 units
John Thompson, P.Eng Director 20,000 units
Jeff Reeder, P.Geo. Director 20,000 units
Joseph Del Campo Director 20,000 units
200,000 units representing
10% of the financing

The financing is expected to close the earlier of TSX Venture listing or February 16, 2007, which is one year from our previous NEX approved private placement financing.

Duran Ventures is a resource company advancing through exploration properties of merit with which to build shareholder value. The Company will use the proceeds of this financing for corporate working capital requirements and to demonstrate compliance with the cash requirements for a TSX Venture listing. The company has received an independent listing property of merit report prepared under National Instrument 43-101 guidelines on its Aguila Copper Moly and Pasacancha Gold Silver Lead Zinc Properties in Ancash, Peru for a listing application on the TSX Venture.

Duran Ventures has received notice that the company's common shares have been added as DUVNF to the OTC Security Listing effective December 6, 2006. This is expected to make the purchase of Duran shares by US investors a simpler electronic process.

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

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

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