Duran Ventures Inc.
TSX VENTURE : DRV

Duran Ventures Inc.

November 16, 2011 13:16 ET

Duran Ventures Reports Final Results From 2011 Aguila Drill Program: Drilling Continues to Intersect Wide Intervals of Copper/Molybdenum Mineralization

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2011) - Duran Ventures Inc. (TSX VENTURE:DRV) ("Duran" or the "Company") is pleased to provide results from the final eleven drill holes of the 2011 drill program at the Company's 100% owned Aguila Porphyry Copper ("Cu")-Molybdenum ("Mo") Project which is located in the Department of Ancash in north-central Peru, some 400 kilometres northwest of Lima.

The Company is very pleased with the results from the 2011 diamond drill program, which has expanded the areas of known copper and molybdenum mineralization both in plan and in depth. Drilling has intersected mineralization over 800 metres in an approximately east-west direction, 400 metres in a north-south direction, and over 1000 metres vertically. Limits on the size of the mineralized system have not been fully established, with numerous geological, geochemical, infill, and geophysical targets remaining to be drill tested at this large property. Further drilling is required to define the ultimate shape, size and orientation of the Aguila Copper-Molybdenum Porphyry system.

A total of 15,175 metres were drilled in 27 diamond drill holes from April 18th to October 19th, 2011. A cumulative total of 23,929 metres of core have been drilled by the Company at the Aguila Project from 2007 to 2011. Please refer to Company news releases reporting earlier drill results, dated June 6th, 28th, August 5th, and September 15th at http://www.duranventuresinc.com/news.php. Data from all the holes will be included in the preliminary NI 43-101 compliant resource estimate now being prepared by SRK Consulting. The Company expects to receive the SRK report in the first quarter of 2012. Preliminary metallurgical test work currently being carried out by G & T Metallurgical Services Limited of Kamloops, British Columbia, Canada is expected to be available at the same time.

A surface channel sampling program is continuing at the Aguila Project. The samples are being collected using a diamond saw to cut a continuous 4 to 6 centimetre wide channel in rock at surface to a depth of 4 to 6 centimetres. The sample is then collected by breaking the rock out with chisels and sledge hammers. This sample method is deemed to be equivalent in sample quality to diamond drill core by SRK, and data from this program will also be incorporated into the resource calculation.

The table at the end of the news release provides a summary of significant copper, molybdenum, and copper equivalent drill intercepts from the current drill program. Drill locations are shown on the map incorporated in this news release. Brief descriptions of the individual diamond drill holes 11AGD034 through 11AGD044 follow, with significant mineralized intersections noted.

Two drill holes targeted mineralization in the Aguila East area at different elevations, 11AGD035 and 11AGD038. Hole 11AGD035 was drilled from the same platform as holes 11AGD030 and 33, at an azimuth of 30 degrees and inclination of -70 degrees to a final depth of 450.7 metres. The 119.5 metre interval from 161.5 to 281.0 metres depth returned 0.32% Cu and 0.008% Mo (0.38% Cu equivalent).

Hole 11AGD038 was drilled on section 10100N at an azimuth of 70 degrees, inclination of -70 degrees to a final depth of 581.6 metres. The 352.4 metre interval from 2.1 to 354.5 metres depth averaged 0.19% Cu and 0.015% Mo (0.30% Cu equivalent), which includes the 187.4 metre intersection from 2.1 to 189.5 metres depth of 0.20% Cu and 0.023% Mo (0.36% Cu equivalent).

Holes 11AGD037 and 11AGD039 were drilled on the southern side of the main Aguila intrusive body, expanding the mineralization to the south. Hole 11AGD037 was drilled on section 9900N at an azimuth of 250 degrees and inclination of -60 degrees. From surface to 245.7 metres, the 245.7 metre interval averaged 0.24% Cu and 0.045% Mo (0.55% Cu equivalent), which includes an interval from surface to 79.5 metres with an average of 0.34% Cu and 0.051% Mo (0.69% Cu equivalent).

Hole 11AGD039 was drilled on section 9800N at an azimuth of 70 degrees and inclination of -70 degrees to a final depth of 515.2 metres. From 9.6 to 313.5 metres depth, the hole averaged 0.16% Cu and 0.013% Mo (Cu equivalent of 0.25%) over 303.9 metres, including a 101.4 metre intersection from 9.6 to 111.0 metres of 0.23% Cu and 0.018% Mo (Cu equivalent of 0.35%).

Two drill holes, 11AGD036 and 11AGD040, targeted mineralization to the north side of the main Aguila intrusive body. Hole 11AGD036 was drilled on section 10200N at an azimuth of 70 degrees and inclination of -70 degrees to a final depth of 594.5 metres. From 14.7 to 381.3 metres depth, the 366.6 metre interval averaged 0.28% Cu and 0.013% Mo (0.37% Cu equivalent).

Hole 11AGD040 was drilled on section 10300N at an azimuth of 70 degrees and an inclination of -70 degrees to 525.0 metres depth. The 201 metre interval from 1.5 to 202.5 metres averaged 0.15% Cu, with no significant Mo. A 36 metre interval from 166.5 to 202.5 metres depth averaged 0.24% Cu with trace amounts of Mo.

Holes 11AGD041 through 11AGD044 were drilled to the west of the Aguila pit area from a single platform on section 10100N. The intersections here confirm the continuity of the mineralized system to the west and indicate considerable additional tonnage potential.

Hole 11AGD041 was drilled at an azimuth of 70 degrees and inclination of -70 degrees to a final depth of 491 metres. From 0.15 to 491.0 metres depth, the 490.8 metre interval averaged 0.31% Cu and 0.023% Mo (0.47% Cu equivalent), including a 234.6 metre interval from 82.5 to 317.1 metres depth averaging 0.37% Cu and 0.022% Mo (0.52% Cu equivalent).

Hole 11AGD042 was drilled directly south with an inclination of -60 degrees to a final depth of 200.1 metres. This hole was designed to test near surface mineralization in this zone. From 1.25 to 200.1 metres depth, this hole averaged 0.25% Cu with trace amounts of Mo over 198.8 metres, which includes an 88.7 metre interval from 1.25 to 90 metres depth of 0.42% Cu with trace amounts of Mo.

Hole 11AGD043 was drilled to 568.5 metres depth at an azimuth of 250 degrees and inclination of -85 degrees. The 224.4 metre interval from 196.5 to 420.9 metres depth averaged 0.28% Cu with minor amounts of Mo.

Hole 11AGD044 was drilled at an azimuth of 250 degrees and inclination of -50 degrees to a depth of 150 metres. The 149.76 metre interval from 0.24 to 150 metres depth averaged 0.24% Cu with trace Mo, which includes a 39.5 metre interval from surface of 0.39% Cu with trace amounts of Mo.

Company geologists describe the Aguila Copper-Molybdenum Porphryry system as being one principal monzonitic intrusive stock with several secondary intrusive bodies. The intrusive rock is the main host of the copper and molybdenum mineralization, but an alteration and mineralization halo extends well into the host sedimentary wallrock. The intrusive was previously identified as dioritic in composition, but recent petrographic studies show it to be monzonitic. The porphyritic intrusives are part of a regional-scale event, which includes emplacement of the mineralized intrusive bodies at Aguila, Racaycocha, and Mamaniña over a fourteen kilometre northwest-southeast strike length. There is a strong component of structural control, with a regional northwest trend cut by local northeast-trending cross structures which appear to control emplacement of the intrusive bodies. Peripheral lead-zinc-silver base metal mineralization occurs in the area, notably in the Pasacancha zone roughly two kilometres to the east of Aguila on the Company's property.

Duran is confident that early stage metallurgical test work being carried out by G & T Metallurgical Services Limited will confirm that a sulfide flotation process will be an appropriate process to recover a high percentage of chalcopyrite and molybdenite in the ore. Assay data has shown no significant presence of deleterious elements such as arsenic.

Peru is an exploration and mining-friendly jurisdiction. The Aguila Project is located in the prolific Department of Ancash, which is also host to Compañia Minera Antamina S.A.'s Antamina Mine and Barrick Gold's Pierina Mine. Minera Peñoles de Peru S.A. is currently advancing an aggressive drill program at the Racaycocha Property, located 2 kilometres to the south of Aguila. Compañia Minera Milpo S.A.A. is advancing development work at the Magistral copper – molybdenum porphyry and skarn deposit, located some 40 kilometres to the north of Aguila.

The Aguila area infrastructure is robust and constantly improving, with a large regional hydroelectric plant located on the Santa River approximately 40 kilometres from the project, abundant precipitation, and good road access available from several directions. The Company plans to continue moving the Aguila Project forward in 2012.

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Drilling and Assay Information

Diamond drill core is photographed and then cut in half with a diamond saw, with one half of the core delivered directly to the analytical laboratory and the other half stored on site for future reference and assay verification. Assaying is carried out by ALS Chemex, a laboratory whose quality control system complies with International Standards ISO 9001:2000 and ISO 17025:2005. Samples are prepared using a four-acid digestion and atomic absorption method for copper and molybdenum, as well as a multi-element ICP analysis. Analysis for gold is done by fire assay with an atomic absorption finish on approximately ten percent of drill core samples. The Company has a QA/QC protocol in place which includes the use of certified standards, blanks, and duplicate samples, check assays carried out at a second laboratory, as well as secure care and custody of samples.

Management Changes

Mr. Cary Pothorin will be stepping down as President at Duran Ventures at the end of December. Mr. Jeffrey Reeder, CEO of Duran Ventures, will also assume the position of President of the Company. Mr. Pothorin will continue assisting the Company as a consultant for the near future to assist with the transition. The Company would like to thank Mr. Pothorin for his contributions and wish him all the best in his future endeavours. Also, Mr. Dan Hamilton has assumed the position of Corporate Secretary of the Company.

Company Information

Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. The Company's principal project is the Aguila Copper-Molybdenum Porphyry Project with related silver-lead-zinc mineralization. Cary Pothorin, P. Geo., a qualified person as defined in National Policy 43-101, is responsible for all technical information contained in this news release.

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

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.

HIGHLIGHT TABLE OF 2011 AGUILA DIAMOND DRILL HOLE RESULTS

HOLE ID

SECTION
FROM
(m)

TO
(m)

INT
(m)

Cu
(%)

Mo
(%)

CuEq
(%)
11AGD018* 10000N 0.0 564.5 564.5 0.61 0.029 0.81
including 0.0 480.8 480.8 0.69 0.031 0.93
and 480.8 564.5 83.7 0.20 0.023 0.36
11AGD019* 10000N 0.4 496.0 495.6 0.31 0.027 0.50
including 0.4 284.0 283.6 0.22 0.031 0.43
and 284.0 496.0 212.0 0.44 0.022 0.59
11AGD020* 10000N 0.0 640.0 640.0 0.41 0.033 0.64
including 0.0 333.9 333.9 0.60 0.035 0.85
and 333.9 640.00 306.1 0.19 0.031 0.41
including 421.6 459.50 38.0 0.48 0.025 0.64
11AGD021* 10100N 0.0 525.0 525.0 0.37 0.030 0.57
including 0.0 335.0 335.0 0.48 0.036 0.72
including 80.8 278.0 197.2 0.64 0.030 0.92
335.0 525.0 190.0 0.17 0.020 0.31
11AGD022* 10100N 0.15 320.5 320.35 0.48 0.021 0.62
including 0.15 117.5 117.35 0.87 0.029 1.06
and 117.5 216.3 98.8 0.29 0.020 0.43
and 216.3 320.5 104.2 0.23 0.012 0.31
11AGD023* 10100N 11.8 699.0 687.2 0.20 0.031 0.41
including 11.8 487.0 475.2 0.23 0.039 0.49
including 11.8 356.5 344.7 0.20 0.043 0.50
and 243.0 487.0 244.0 0.32 0.040 0.59
11AGD024* 9900N 0.0 590.0 590.0 0.21 0.019 0.34
including 0.0 189.0 189.0 0.30 0.022 0.46
and 314.5 392.6 78.1 0.34 0.007 0.39
11AGD025* 9900N 4.5 662.6 658.1 0.17 0.029 0.37
including 21.0 342.5 321.5 0.22 0.047 0.54
including 21.0 263.0 242.0 0.23 0.053 0.58
11AGD026* 10200N 0.4 665.8 665.4 0.22 0.008 0.28
including 0.4 562.5 562.1 0.25 0.010 0.32
including 0.4 302.5 302.1 0.33 0.016 0.44
11AGD027* 9900N** 3.2 122.0 118.8 0.20 0.004 0.23
296.5 333.5 37.0 0.19 0.003 0.21
383.5 407.3 23.8 0.27 0.002 0.29
440.5 463.0 22.5 0.30 0.001 0.30

HOLE ID

SECTION
FROM
(m)
TO
(m)
INT
(m)
Cu
(%)
Mo
(%)
CuEq
(%)
11AGD028* 9900N 0.5 127.5 127.0 0.20 0.004 0.23
11AGD029* 10300N** 2.0 1001.1 999.10 0.33 0.029 0.53
2.0 395.5 393.50 0.24 0.020 0.37
395.5 499.4 103.90 0.25 0.044 0.56
499.4 806.0 306.60 0.55 0.047 0.87
806.0 1001.1 195.10 0.21 0.012 0.29
11AGD030* 10000N** 0.15 92.5 92.35 0.19 0.007 0.24
140.00 186.2 46.20 0.23 0.004 0.26
301.00 320.5 19.50 0.34 - 0.34
11AGD031* 10200N 0.15 301.5 301.35 0.26 0.011 0.33
354.00 378.5 24.50 0.23 0.002 0.24
11AGD032* 9950N 0.60 398.50 397.90 0.20 0.023 0.36
including 0.60 236.50 235.90 0.20 0.029 0.40
and 298.73 342.90 44.17 0.35 0.025 0.52
and 342.90 398.50 55.60 0.20 0.012 0.28
398.50 515.00 116.50 0.34 0.010 0.41
11AGD033* 10000N** 0.30 252.00 251.70 0.33 0.004 0.36
11AGD034 10050N 3.40 570.35 566.95 0.19 0.009 0.26
including 3.40 281.00 277.60 0.24 0.016 0.35
including 161.50 281.00 119.50 0.32 0.008 0.38
11AGD035 10000N** 0.40 450.70 450.30 0.21 0.003 0.24
including 0.40 301.00 300.60 0.25 0.005 0.29
11AGD036 10200N 14.70 594.50 579.80 0.22 0.009 0.29
including 14.70 381.29 366.59 0.28 0.013 0.37
11AGD037 9900N 0.00 541.20 541.20 0.17 0.030 0.37
including 0.00 245.70 245.70 0.24 0.045 0.55
and 0.00 79.50 79.50 0.34 0.051 0.69
11AGD038 10100N 2.10 581.65 579.55 0.15 0.013 0.24
including 2.10 354.50 352.40 0.19 0.015 0.30
and 2.10 189.50 187.40 0.20 0.023 0.36
11AGD039 9800N 9.60 515.20 505.60 0.13 0.009 0.19
including 9.60 313.50 303.90 0.16 0.013 0.25
including 9.60 111.00 101.40 0.23 0.018 0.35

HOLE ID

SECTION

FROM
(m)

TO
(m)

INT
(m)

Cu
(%)

Mo
(%)

CuEq
(%)
11AGD040 10300N 1.50 525.00 523.50 0.10 - 0.10
including 1.50 202.50 201.00 0.15 - 0.15
including 166.50 202.50 36.00 0.24 0.001 0.25
11AGD041 10100N 0.15 491.00 490.85 0.31 0.023 0.47
including 0.15 317.10 316.95 0.34 0.017 0.46
including 82.50 317.10 234.60 0.37 0.022 0.52
11AGD042 10100N** 1.25 200.10 198.85 0.25 0.002 0.26
including 1.25 90.00 88.75 0.42 0.003 0.44
11AGD043 10100N 0.50 568.50 568.00 0.22 0.003 0.24
196.50 420.97 224.47 0.28 0.001 0.29
11AGD044 10100N 0.24 150.00 149.76 0.24 0.001 0.25
including 0.24 39.50 39.26 0.39 0.001 0.41
* INDICATES PREVIOUSLY RELEASED PARTIAL OR FULL ASSAY RESULTS
** INDICATES HOLE DRILLED OFF SECTION OR WITH DIFFERENT AZIMUTH

Total Cu equivalent is the sum of the Cu% plus 6.756 times the Mo% based on an assumed 6.756:1 economic ratio of Mo to Cu selling prices (i.e. US$1.85 Cu to US$12.50 Mo). Metallurgical recoveries and net smelter returns are assumed to be 100%. These equivalence grades should not be interpreted as actual grades since the conversion ratio varies with the volatile prices of copper and molybdenum and the economic recovery of copper and molybdenum can vary significantly in actual extraction and processing. The Company feels this is a reasonable long term ratio to use for this purpose.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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