Duran Ventures Inc.

Duran Ventures Inc.
MacMillan Gold Corp.

MacMillan Gold Corp.

March 07, 2008 14:57 ET

Duran Ventures and MacMillan Gold Update on Peru

TORONTO, ONTARIO--(Marketwire - March 7, 2008) - George A. Brown, CEO of both Duran Ventures Inc. (TSX VENTURE:DRV) and MacMillan Gold Corp. (TSX VENTURE:MMG), is pleased to provide an update on our activities in Peru. Glenn O'Gorman, P.Eng., President of Duran and David Bending, P.Geo., VP of Duran and MacMillan Gold are both Qualified Persons as defined in National Policy 43-101 and are responsible for all technical information contained in this joint news release.

In this release, the "Company" refers to the Peruvian company, Minera Aguila de Oro SAC, whose shares are registered 50% to MacMillan and 50% to Duran.

The Company has recruited and appointed a full time President for Minera Aguila in Peru. Mr. Cary Pothorin, P.Geo. is a Canadian professional geologist in good standing with the Association of Professional Engineers and Geoscientists of British Columbia. He graduated in 1988 with a B.Sc. specialized in Geology from the University of Alberta. He also received a Business Administration Diploma from Camosum College in Victoria B.C. in 1994. Mr. Pothorin is fluent in Spanish and his most recent experience is as VP Exploration of Acero-Martin Exploration Inc. who have successfully advanced the Pinaya Porphry Copper-Gold Skarn Deposit in Peru to a National Instrument 43-101 compliant resource. Mr. Pothorin will assume the duties as President of Aguila in Peru effective April 1, 2008. Duran Ventures and MacMillan Gold are very pleased to welcome a person with Mr. Pothorin's experience and abilities. Mr. Pothorin will be involved on a full time basis to direct the activities and personel in Peru with the goal of developing the Aguila Copper Molybdenum Project to a National Instrument 43-101 compliant resource as soon as possible.

The Company is currently drilling in Peru under an environmental impact permit, Drilling Permit type 'B', which allows the drilling of up to twenty diamond drill holes in the Aguila and Pasacancha project areas. Five of the twenty holes were drilled in Phase 1. Iguana Drilling SAC of Lima Peru were awarded a 5,000 metre contract for a Longyear 44 diamond drill. Phase 2 which is currently underway consists of deepening Phase 1 Aguila Holes 4 and 5 to the original target depths of 600 metres, drilling an additional nine holes to outline the Aguila Main, Aguila West Contact, and Aguila East targets, and drilling six holes in the Pasacancha Silver Gold target consisting of three holes from each side. Aguila Hole 4 has been successfully deepened to a total length of 628.8 metres. The Company expects all results from Hole 4 by next week with results to be published as soon as compiled and interpreted. Aguila Hole 5 is currently being deepened to a target length of 600 metres. The Company plans to drill Pasacancha Hole 1 from the east side of Pasacancha later this month. Diamond saw cut channel sampling of the underground tunnels at the Pasacancha Ag-Au target is progressing well and results from five segments covering over 1,200 metres of sampling from the first three tunnels are being compiled and interpreted for release next week.

Field work and document preparation was completed and an application was submitted in December 2007 for a Class "C" drilling Permit which will allow the Company to undertake an eighty hole drilling program aimed at developing an eventual resource for the Aguila and Pasacancha Targets. The Class C permit application was published in the official gazette in Peru in February 2008 and is therefore expected to be received any day. The Company has received approval permits to increase our electrical capacity at the project. This will help us alleviate some delays caused to date by very limited power availability and allows us to increase project facilities in preparation of the activity step up required when the C Permit is received.

The Company has negotiated and signed a three year land use agreement with the local communities. The agreement provides for the Company to fund programs and activities submitted by the communities involved. The Company continues to source manpower from within the surrounding communities. The Company has assisted in increasing health services available in the Pasacancha community from two paramedics to a doctor, a nurse, and two paramedics.

All samples are delivered to the Lima laboratory of Inspectorate Services Peru SAC (a certified laboratory) for preparation and multi-element ICP analysis followed by AQR/AA assaying for base Metals and 30 gram FA/AA assaying for Au and Ag. The company has a QA/QC protocol in place including the use of duplicate sampling by outside labs, certified standards and blanks and secure care and custody of samples.

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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