Duran Ventures Inc.

Duran Ventures Inc.

October 15, 2008 11:20 ET

Duran Ventures Corporate Update

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2008) - George A. Brown, CEO of Duran Ventures Inc. (TSX VENTURE:DRV), is pleased to provide the following corporate update.

The Annual and Special Meeting of Shareholders was held on Tuesday October 14, 2008. Approximately 35% of the issued and outstanding shares of Duran were represented at the meeting. Over 99% of the votes were cast FOR the election of John P. Thompson, Jeffrey J. Reeder, Joseph Del Campo, David Bending, David Goldman, David J. Libby and Michael Gingles as directors. Mr. Thompson, Mr. Reeder, Mr. Bending and Mr. Libby are Qualified Persons under National Instrument 43-101 providing excellent technical strength and depth to the Company's board.

McGovern, Hurley, Cunningham, LLP, Chartered Accountants, were unanimously re-appointed as auditors for the Company for the ensuing year.

Authorization was passed unanimously to ratify, confirm and approve a shareholders rights plan as described in the September 12 Joint Information Circular available on SEDAR.

A majority of the disinterested (non-insider) shareholders representing 100% of the eligible votes cast, approved a resolution approving the continuation of the Company's existing Stock Option Plan, which allows stock option grants up to 10% of the issued and outstanding common shares of the Company. As at the June 30, 2008 Financial Statements as filed on SEDAR, there were 2,648,850 stock options granted under the plan.

Authorization was passed by 100% of votes cast to approve the continuance of Duran from a B.C. Corporation to a company continued under the Canada Business Corporations Act.

Authorization was passed by 100% of eligible votes cast to approve the transactions comprising the proposed arrangement between the Company, Duran Resources ULC, MacMillan Gold Corp. and MacMillan Minerals Inc., pursuant to which, among other things, MacMillan Gold Corp. will transfer its mineral exploration properties located in Mexico as well as adequate funds to continue exploration activities on such properties into a separate corporate entity, MacMillan Minerals Inc., the shares of which shall be transferred to the shareholders of MacMillan Gold Corp., immediately following which MacMillan Gold Corp. will amalgamate with a wholly-owned subsidiary of the Company, Duran Resources ULC, to form an amalgamated corporation, all as more fully described in the Joint Information Circular dated September 12, 2008.

Subsequent to the Annual and Special Meeting, the Board appointed the following officers:

George A. Brown, Chief Executive Officer

Cary Pothorin, President

David C. Hammond, Chief Financial Officer

Carmen Yuen, Secretary and Treasurer

And appointed the following committees:

David Goldman was appointed Chairman of the Board. The Audit Committee will be comprised of Joseph Del Campo, Michael Gingles, and John Thompson. The Corporate Governance will be comprised of David Goldman, David Bending, and Joseph Del Campo. The Compensation Committee will be comprised of Joseph Del Campo, John Thompson, and Jeffrey Reeder. The Technical Committee will be comprised of David Libby, David Bending, and Jeffrey Reeder.

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

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

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