Duran Ventures Inc.

Duran Ventures Inc.

July 31, 2009 16:44 ET

Duran Announces Private Placement For Up to $500,000

TORONTO, ONTARIO--(Marketwire - July 31, 2009) - Duran Ventures Inc. (TSX VENTURE:DRV) has filed a Price Reservation Form 4A with the TSX Venture Exchange for a private placement financing of up to $500,000 subject to regulatory approvals.

The proposed private placement is expected to raise up to $500,000 by the issue of up to 10,000,000 common shares at $0.05 per share. Each share unit purchased in this financing includes a warrant which entitles the holder to purchase an additional common share of Duran at an exercise price of $0.10 The warrants will expire twenty four months from the date of regulatory approval unless the closing price of the common shares has been $0.15 or higher for ten consecutive trading days in which case the warrants will expire 30 days after a news release announcing an earlier expiry date.

Duran currently has 64,582,012 common shares issued and outstanding.

Subscriptions have been received for 3,350,800 units including 540,000 units (16%) subscribed by two directors and two senior officers.

Interested parties may inquire by email at duranventures@ca.inter.net or by phone at 416-867-1101. Finder's fees in cash or shares as allowed by the regulatory authorities may be paid pertaining to this financing. Closing is expected by August 31, 2009.

Proceeds will be used for working capital purposes and to fund Duran's work program requirements.

Mr. David Bending has resigned as a director effective July 31, 2009 due to other commitments. The Company wishes to thank Mr. David Bending for his years of service as an officer and director. Mr. Bending has agreed to remain a consultant to the Company.

Double Jack Mines Ltd. (July 2, 2009 news release) have requested an extension to August 31, 2009, as originally provided for, in order to obtain a lock up agreement from a minimum of two thirds of Double Jack shareholders.

The Company wishes to draw your attention to a PowerPoint presentation on the homepage of duranventuresinc.com that summarizes the presentation made at the Company's Annual General Meeting of Shareholders.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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