Duran Ventures Inc.
TSX VENTURE : DRV

Duran Ventures Inc.

August 15, 2007 14:38 ET

Duran Completes $3,707,000 Private Placement

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2007) - Glenn O'Gorman, President of Duran Ventures Inc. (TSX VENTURE:DRV) is pleased to announce that Duran has received final approval from the TSX Venture Exchange for a $3,707,000 private placement under terms and conditions as news released July 18, 2007. The placement consists of 3,707,000 units at $1.00 per unit. Each unit is comprised of one common share and one half warrant, with each full warrant (two half warrants) exercisable for eighteen months at a price of $1.50 per share.

As a result of this private placement the number of shares of the Company has increased by 3,796,800 for a total of 24,802,793 issued and outstanding shares. In addition, the Company issued 1,853,500 full warrants and 162,515 broker warrants. The full warrants and broker warrants are exercisable at $1.50 and $1.00 respectively for a maximum period of eighteen months from the issuance date, unless Duran announces through a news release of an earlier expiry date of thirty days from news release date. The Company is able to exercise this warrant call feature if the shares have traded for $2.00 or more for twenty consecutive days.



Three insiders subscribed to the financing as follows:

George A. Brown CEO & Director 20,000 units
John Thompson, P.Eng. Director 20,000 units
Jeff Reeder, P.Geo. Director 5,000 units

Finder's fees of $179,015 in cash, 162,515 broker warrants, and
89,800 common shares are being paid as follows:

Broker Common
Cash Warrants Shares
-------- -------- ------
Granite Associates Ltd. Mississauga, ON $123,515 123,515 -
LOM Capital Limited Hamilton, Bermuda 45,500 39,000 -
Dehradun Financial Corp. Delta, B.C. 4,400 - -
Michael Kachanosky Milton, ON 2,400 - -
Charn Deol Delta, B.C. 3,200 - -
Jason Rucker Thunder Bay, ON - - 33,800
Michael Cormack Burlington, ON - - 56,000
-------- -------- ------
Total Finder's Fees $179,015 162,515 89,800
-------- -------- ------


MacMillan Gold Corp. (TSX VENTURE:MMG), Duran's joint venture partner in Peru, subscribed for 200,000 units. George A. Brown, President and CEO of MacMillan states: "MacMillan owns 50% of the Peruvian JV and 1,2000,000 shares of Duran Ventures Inc. We subscribed so as to maintain our approximate 5% share ownership interest in Duran."

Duran will use the proceeds to meet general corporate working capital needs including the completion of Duran's 50% Peruvian joint venture earn-in, which is expected to occur later this year after completion of the US$1,000,000 in exploration expenditures requirement.

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

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