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Duran Ventures Inc. (TSX-V: DRV)

       Duran Ventures Inc. is a Canadian-based mineral exploration mining company listed on the TSX Venture Exchange (ticker symbol DRV) (OTC: DUVNF) (Frankfurt: 6D7). The Company has come to our attention due, in part, to the exceptional opportunity afforded shareholders as DRV.V is advancing their 100% owned concessions located in Central Peru where geologists agree that Duran's Aguila copper-molybdenum porphyry deposit is part of a large porphyry cluster in a major mineral district actively taking shape with Peñoles and Duran Ventures holding key ground. DRV has defined a sizeable deposit at Aguila and is expected to release a first resource calculation this Q1 2012.

1) Aguila copper-molybdenum porphyry  - Central Peru - 100% Owned by Duran Ventures

Phenomenal grades • World class bulk tonnage potential being developed • Penoles active off claim line

DRV's Aguila copper-molybdenum porphyry deposit in Central Peru is demonstrating world class tonnage potential, a first resource calculation is expected this Q1 2012. 23,000+ metres (43 holes) of core drilling from 2007 - 2011 has established mineralization over an area ~800m x 400m x 500+m (depth) which appears will translate to well in excess of 200 million tonnes; Mining MarketWatch Journal estimates this would conservatively translate to well north of 2 billion pounds of copper and north of 200 million pounds of molybdenum. The mineralized area established so far is large yet represents only a fraction of the prospective contact from one IP anomaly alone which stretches 1400m in length and is open in all direction. The deposit is host to a past producing open-pit mine with high grade copper molybdenum porphyry in the main intrusives surrounded by material that should result in a modest strip ratio. This expanding deposit is part of a major mineralized district actively taking shape with Peñoles active on its own (Racaycocha) porphyry adjacent DRV's claim line.

Figure 3. Area Photo Showing DRV's Aguila Property and Neighbour Peñoles (above). Visible in the foreground of the photo above is the open-pit from the past producing mine on Duran's Aguila property -- this is where Duran's main Cu-Mo deposit is located. Visible near the property line on Duran's side is the Peñoles camp. Peñoles has set up camp there (with permission from Duran) as their porphyry is on the north facing slope of the mountain above and Duran's property is the most practical place for their base of operations -- this underscores the beauty of the scenario unfolding; the size and scope of the exploration/development operation at the Penoles Cu-Mo find is large, growing fast, and Peñoles will need to ultimately deal with Duran. Peñoles has been intensively drilling (4 drill rigs were on site in 2011) what is understood to be a separate porphyry body just off Duran's claim line to the south and it also shares a separate porphyry body in the SW section of Duran's claim group. Any mine Peñoles hopes to build would ultimately need to involve Duran as DRV.V has a sizeable ore body on one side of the gully and all the flat land across the gully and sloping up to where Peñoles is drilling; DRV.V has the only logical place to build plus it would make no sense for two mines to be built.

Drilling to date -- 23,000+ metres (43 holes) of core drilling from 2007 - 2011

Figure 4. Select drill holes location map 1 (above). More recent drilling (seen below and on page 5 of the inset PDF) has affirmed the strength of the mineralized system at Aguila, as well as the considerable tonnage potential, and suggests the wall rock is minable which dramatically enhances the economics of the deposit as it will result in a modest strip ratio.

 Figure 5. Drill hole location map 2 (above). Overlay of most recent drilling.

Figure 6. Building size at the Aguila Cu-Mo Porphyry (above). In the sectional diagram above we have indicated in blue as an example of where the overlay seen in figure 5 of recent drilling has drilled out the rock wall; a drill rig was carried up the ridge and the results seen on the news release of November 16, 2011 show for example hole 41, which was drilled towards the pit, intersected 490 metres of 0.31% Cu and 0.023% molybdenum in the sedimentary host rock (seen in green above, naturally significantly higher grades are found in the main intrusive rock (seen in pink above)) -- proving the wall rock is sufficiently mineralized. In fact hole 41, which is a 400 m intersection was drilled from the high peak on the west and it found grade all the way down. The same applies to holes on the other side and in between; holes 19, 4, & 5 drilled the wall rock between the two porphyries and those have grades. Similarly to the east up the ridge with holes 33 and 35 too. This is significant as the Aguila can be modeled as a modest strip ratio deposit. Mining MarketWatch Journal has looked at models of comparable deposits in Peru and found they are modeled down to 0.2% copper. Duran clearly has exceptional grades in the intrusive rock and adequate numbers in sedimentary rock; Hole 18 for example for the first 480 metres is almost 0.7% Cu, hole 20 DRV intersected 0.6% copper in the intrusive and the sediments are running between 0.2% and 0.3% copper.

Drill hole results from 2007 - 2010:

Drill hole results from 2011:

Duran's president, Jeffrey Reeder, P. Geo., has an abundance of experience drilling out/defining porphyries and appears to have strategically delineated sizeable tonnage and filled in gaps in the resource during this last round of drilling. Hole 29, which is the most northern hole (it was drilled from the north), is fairly telling; Duran drilled a -65 degree angled hole all the way to the south as it already had drilling in both directions to the east and to the west making a triangle down at depth that needed to be filled -- hole 29 drilled 999 metres of .33 Cu and 0.029 Mo which means from the vertical to the horizontal there was over 800 metres and we know from hole 33 & 35 up on the hill the mineralization is well over 1000 metres. In looking at the numbers for hole 29 the first ~500 metres was in mineralized sediment running 0.37 Cu equivalent, 0.56 Cu equivalent, the next 306 metres DRV intersected high grade intrusive rocks (0.87% Cu eqiv.) and then the last 200 metres was lower grade intrusive rock that was still in grade.

Related releases:

Nov. 16, 2011 "Duran Ventures Reports Final Results From 2011 Aguila Drill Program: Drilling Continues to Intersect Wide Intervals of Copper/Molybdenum Mineralization"

Sept. 15, 2011 "Duran Ventures Reports Latest Positive Results From 2011 Aguila Drill Program: Highlights include 999.1 Metres of 0.33% Copper and 0.029% Molybdenum (0.53% Copper Equivalent) incorporating 306.6 metres of 0.55% Cu and 0.047 Mo (Cu equivalent value of 0.87%)"

June 6, 2011 "Duran Ventures Reports Positive Initial Results of 2011 Aguila Drill Program: Highlights include 480 metres of 0.69% Copper (“Cu”) with 0.031% Molybdenum (“Mo”) and 333 metres of 0.60% Cu and 0.035% Mo."

Feb. 23, 2010 "Duran Announces 396.0 Metres of 0.69% Copper and 0.042% Molybdenum (0.98% CuEq) in Drill Hole 10AGD016"

Jan. 13, 2010 "Duran Drills 223.6 Metres of 0.51% Copper and 0.021% Molybdenum at Aguila"

Highly favorable metallurgy - 93% copper & 91% molybdenum recoveries

Enormous Size Potential

The geophysics map Figure 8 (found to the left) is a compilation of all the geophysical anomalies from the 2km x 3km grid Duran ventures had performed on the property in 2009. In the map the largest IP anomaly is labeled "IP2" and the location of hole 16 is indicated which intesected 480 metres of 0.69% Copper with 0.031% Molybdenum and 333 metres of 0.60% Cu and 0.035% Mo., Duran collared outside the intrusive and drilled into the anomaly intersecting tremendous grades -- the entire area all along the contact of that IP is very prospective.

To date most of Duran’s drilling at Aguila has focused in and around the Aguila pit (central zone) where Duran has established a large deposit, encountering numerous stellar intercepts flanking this IP anomaly. The mineralized area established so far is large yet represents only a fraction of the prospective contact from one IP anomaly alone which stretches 1400m in length and is open in all direction. The size potential at Aguila is enormous as there are many other IP anomalies on the property believed to be equally as prospective.

Figure 9 shows the intrusive trend is going slightly to the SW, mimicking the IP anomaly rout. Remember 2% chalcopyrite will give you a weaker anomaly than 3% pyrite on an IP so drilling the highest IP numbers are not always the best thing -- it appears the best grades are flanking the IP anomaly. Right in the pit the trend is NS then it deflects and goes to the SW – that is what the intrusive body does too and it appears prospective all along that contact towards Aguila West. 

Mining MarketWatch Journal notes the prospects of a Major coming into this area to take advantage of the size potential that Duran and Penoles are revealing is a distinct possibility, astute investors should be looking to position themselves now to take advantage of what is developing -- if Duran has 200M – 400M tonnes on its ground and Penoles has that much then some big company is going to come in and buyout DRV.V and deal with Penoles or Penoles will buy DRV.V out – one of the two are probably going to happen.

Background on the Aguila Copper-Molybdenum Project

Duran Ventures has been active at the El Halcon concession Aguila project since 2003 and has now consolidated 100 percent ownership. Originally comprising 100 hectares of property area, the project includes the past producing Aguila open-pit copper mine. The historic resources consist of a near surface porphyry structure bearing copper and molybdenum, from which a low volume mining operation had been active in the 1970s.
 
Duran Ventures was able to add surrounding property acquisitions to its holdings to gain control of the area immediately adjacent to the historic deposit. As preliminary exploration work was completed a larger area of interest was identified. Additional property area was also acquired elsewhere in the district on the premise that other porphyry structures may be awaiting discovery in a nearby targets that bear a similar geological setting.

In 2008 a total of 14 drill holes were completed which have demonstrated a large tonnage of continuous mineralization, and the deposit remains open laterally and to depth. The first 8 drill holes were to investigate the potential around the historic workings of a past producing open pit mine. Another 7 holes were completed in a second drill fence to step out the original discovery zone and expand the limits of the known deposit. High grade and consistent lateral extension have been reported in assay results; see June 3, 2008 release 'MacMillan & Duran Report Entire 718.1 Metre Hole 6 Averages 0.555% Cu and 0.041% Mo') and July 14, 2008 release 'Duran Ventures And MacMillan Gold Report Over 1% Copper Equivalence Averages' -- these demonstrated the existence of a near surface, copper-molybdenum porphyry structure with significant tonnage.

World class bulk tonnage Cu-Mo potential: Aguila copper-molybdenum deposit has yielded impressive grades in the order of 0.5 - 0.6% copper (ie.718m grading 0.555% Cu and 0.041% Mo = 1%+ copper equivalent ) and is host to a past producing open-pit mine. Drilling has expanded the deposit to the west, east and at depth, encountering higher grade porphyry than other companies in the region, the deepest hole is over 800m from surface down and is still in copper mineralization. Recent exploration work at Aguila has now outlined a much larger target, the dimensions of the porphyry are believed to be large and results from recent exploration efforts are expected soon and will improve on the dimensions. Indications are positive for having big porphyry at depth. There is strong potential for further expansion of the Aguila deposit through additional drilling.

When comparing Duran's potential to established Cu-Mo deposits in the region such as recent success stories like Norsemont Mining, which was bought out by HudBay Minerals, it is important to note that the grades at Duran's Aguila porphyry are higher in the main intrusive and favourably comparable when factoring the mineable sedimentary rock wall. Norsemont Mining has a defined resource of ~277M tonnes -- Duran has phenomenal grades and everything points to the fact Duran has potential for similar size porphyry and a correspondingly significant upside move in valuation. Transactions over the last several years involving copper deposits similar to what Duran Ventures is targeting in Peru have seen multiple deals made in the $400M - $800M range.

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Infrastructure, & Region - stable, mining friendly region

The properties are located ~3,100 to 4,400 meters above sea level in the eastern part of the Western Cordillera of North Central Peru. The projects are ~100km in from the coast and are all road accessible. Power to the property is provided by an active power line traversing the Pasacancha 1 concession and is connected to the national grid. Nearby town are Sihuas and Pasacancha.

Peru is unanimously agreed in the mining community to be a stable, mining friendly region. The mining claim and permitting process is highly transparent and clearly laid out. At the tail end of September 2011, Peru passed three new mining laws. The new mining law provides clarity for mining companies, it modifies some mineral royalties and establishes a new legal framework for the industry. The end result is that Peru is now considered stable and mining-friendly, there is no uncertainty, and the level of interest from majors regarding junior resource deposits/projects of significance in Peru now is high. The new royalty is not prejudicial towards juniors and affects mostly the large established producers that had sweetheart deals that kept their royalty payments low. Numerous new projects are progressing including Peru miner Milpo's $400 million investment to start up of the copper-molybdenum Magistral deposit.

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2) Ichuña Copper-Silver Project - Central Peru - 100% Owned by Duran Ventures

Major New Discovery (Gold Fields-Buenaventura 7.6M Oz Gold Equivalent Chucapaca) Adjacent to Duran's Ichuña Project

Figure 17. Map showing location of Ichuna Property in relation to the Canahuire and Chucapaca projects of Gold Fields and Buenaventura. Also active in the region with similar geology is Bear Creek Mining which has drilled 60 m of 7.20 opt Ag, 40 m of 3.56 opt Ag, and 82 m 2.44 opt Ag (area diagram showing proximity of DRV, Bear Creek, and Gold Field/Buenaventura relative to each other may be seen here).

Duran Ventures' sampling program to date has yielded quality values at surface including 27 metres of 6 ounces silver with .32% copper and 10 ounces silver with .2 copper. DRV has found strong surface Cu-Ag mineralization covering an area of 2.5 x 1.0 km, strong copper oxide mineralization, and high grade Silver mineralization flanking geophysical anomalies.

Channel Sample Highlights Include:

See related October 6, 2010 release entitled "Duran Reports Significant Silver and Copper Values from Ichuña Project"

We have circled the ~area Duran Ventures' Ichuna is located on an image of the geology of the area lifted from Gold Fields' overview presentation on Chucapaca found at the following URL:

http://goldfields.co.za/presentations/2011/south_america_chucapaca_15112011.pdf (page 10).

Figure 18. District Geology with DRV's Ichuna intrusive rocks circled. Gold Fileld's Canahurie discovery was a blind discovery (there was no outcropping), Duran Ventures has very similar geology in target areas of Ichuna where sub volcanics intrude the limestones -- that is why DRV has a lot of copper and silver mineralization, Gold Feilds has found where gold replacement is in the limestone and DRV believes it can do the same.

DRV has similar IP signature at proposed drill target to Gold Field's major discovery IP

A close look at the IP section at the major discovery zone of the aforementioned Gold Fields Chucapaca overview PDF (page 24) is very telling for DRV as Duran has identified a very similar IP anomaly with the same twists....

Figure 19 & 20 Geophysics -- Ripe for major discovery in 2012. DRV has high grade Silver mineralization flanking geophysical anomalies. There is coincident resistivity and chargeability trending NW showing possible strong structural control. There is no outcrop exposure of the anomaly (just as Gold Fields had none). Important to note is that Gold Field's anomaly trends ~290 degrees and similarly Duran Ventures ~trends degrees (the same general direction). When comparing DRV's high IP (the big red one labeled "IP1") to an aerial topographic photo of the same area it's following and trending the valley which is exactly similar to how Gold Fields' drilled their anomaly and is where their ore body was found (only ~3.5 km away from DRV).

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3) Mamanina Cu-Mo-Zn-Au Project, Central Peru - 100% Owned

High silver values • Past producing • Significant bulk tonnage potential  • Silver-Gold-Lead-Zinc target

• 1800 Hectares located 14 km south of Aguila
 

• Previous Exploration by Queenstake Resources in 1997 identified classic porphyry style mineralization
 

• Limited scout drilling by Monterrico Metals in 2002 returned encouraging Cu results in the Skarn Zone
 

• Gold Zone discovered southeast of the porphyry intrusives

This property came open for staking in early 2011. As stated earlier, as a result of having a highly skilled technical and management team active in Peru for over 17 years, DRV was able to secure and outmaneuver other interested parties for this prized property. See related April 14, 2011 release entitled "Duran Ventures Acquires Mamaniña Porphyry Copper-Molybdenum-Gold Concessions in Peru".

The concessions are high quality copper molybdenum exploration targets located approximately 14 kilometres to the south of the Company’s flagship Aguila Copper-Molybdenum Porphyry Project. The Company now holds a total of 1,800 hectares in three contiguous concessions.

Queenstake and Alamos found copper-molybdenum bearing porphyritic stocks hosted by clastic and carbonate sediments at Mamaniña. Carbonate replacement skarn-type mineralization occurs at contacts between the intrusive and sedimentary units. An airborne magnetic and radiometric geophysical survey defined an anomaly two kilometres in diameter which coincides with these mineralized zones on surface. Sampling by Queenstake and Alamos returned values of up to 2.1% copper, 0.6% zinc, and 9.48 grams of gold per tonne. The following link refers to a joint news release filed on Sedar by Queenstake and Alamos dated November 3, 1997:

http://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00012639&fileName=/csfsprod/data7/filings/00047098/00000001/c%3A%5Cjunk%5Cjnr97-2.pdf

The property essentially sat unexplored since 1997 except for one tiny drill rig that was hoisted up the hillside in 2002 by Chinese interests; they drilled the skarn and it is purported that they intersected 25 m of 1.65% copper however did no follow through. Historic surface samples are up around ~2% copper with significant gold results.

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4) Minasnioc High Sulphidation Gold Project - Central Peru - 100% Owned by Duran Ventures

• High sulphidation epithermal gold-silver project, similar to Barrick’s Pierina and Lagunas Norte gold-silver mines.

 
• 1,800 hectare property in the Department of Huancavelica, Peru Located 40 km from Compañia de Minas Buenaventura’s Antapite gold mine (2009 production of 31,004 oz Au and 50,100 oz Ag.
 

• Part of 3 x 7 km alteration zone.
 

• Work completed by Barrick/Hochschild JV from 2001 to 2003: 22 drill holes and over 3,700 m of drilling. Hole MNP16: 1.2 g/t Au over 17.7 m.
 

• Initial rock sampling includes 3 m of 2.89 g/t Au and 29.3 g/t Ag and a 3x3 m panel at 2.89 g/t Au and 66.9 g/t Ag.
 

This property came open for staking in May 2010 and Duran was awarded it in a closed government auction.

The particularly appealing attraction of this property is the vuggy silica mineralization (see image to the left) found on Minasnioc. The benefit of this type of ore is that it can be blasted and put in a dump leach easily. Several highly profitable mines have been brought from exploration to production with nominal capital outlay with this type of ore.

A good company for Duran to look towards for inspiration on this prospect is Treasury Metals (see their related May 18, 2011 news release entitled "Treasury Metals to Acquire Pico Machay Gold Project from Pan American Silver") and its Pico Machay Gold Project. What makes Pico Machay such a good property is it can be brought into heap leach production for ~$12 million and the first years production could push 44K ounces gold. There is belief Duran's Minasnioc property is a very similar property. The economics of these properties can be  phenomenal. Mineral IRL on its Corihuarmi project is another similar one to look at for inspiration, they acquired it in 2002 and commenced production in March 2008 at a capital cost of US$20 million following 9 months of construction. The mine has performed at above expected levels and produced 117,237 ounces by the end of 2010 at a weighted cash site operating cost of US$273/ounce.
 
DRV's Minasnioc concession covers 1,000 hectares in the department of Huancavelica, approximately 300 kilometres southeast of Lima. This project has seen previous intensive exploration campaigns by Barrick and Compañia de Minas Buenaventura S.A.C. between 2001 and 2007, which included surface channel sampling and drilling.
 
Initial property visits and have defined a high-sulphidation (acid sulphate) epithermal gold- and silver-bearing system developed in Tertiary volcanic rocks. Extensive zones of argillic and advanced argillic alteration are present, with areas of massive and vuggy silica with associated alunite. The gold-silver-bearing part of the epithermal alteration system covers an area of two kilometres by two kilometres. This age of the volcanic host rocks and style of mineralization are similar to Barrick's Pierina and Alto Chicama mines and Newmont and Buenaventura's Yanacocha mine in Peru.
 
Initial rock chip sampling by the company shows widespread anomalous gold values with associated silver, arsenic, barium, lead, mercury and antimony geochemical anomalies, which are typical of an altered precious-metal-bearing system. Samples were collected as one-metre to four-metre rock chips and panel samples ranging from two-metre-by-two-metre to five-metre-by-five-metre panels. Of the samples, 21 of 35 returned assays greater than 0.1 gram of gold per tonne, with values as high as 2.96 grams of gold per tonne. Of the samples, 28 of 35 returned silver values of greater than one gram of silver per tonne, 11 samples returned values of greater than 10.0 grams of silver per tonne and one sample returned a high value of 70.6 grams of silver per tonne.

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5) Pasacancha Silver-Lead-Zinc Project - Central Peru - 100% Owned

High silver values • Past producing • Significant bulk tonnage potential  • Silver-Gold-Lead-Zinc target

Location: Pasacancha is a continuation of Aguila; Duran Venture's Aguila Project (reviewed above) and Pasacancha project are part of the same geological system.

Peru was the top silver producing country in the world, responsible for a recorded 118.30 million ounces in 2008 (source Market Equities Research Group). Miners know ‘the best place to find a new resource is amidst the workings of an old mine’ -- The Pasacancha concession is host to the past producing Pasacancha mine, where historical production focused on high grade silver veins that have been mapped across a large part of the property.
 
The Pasacancha mine workings are situated at the top of a hill above a town with the same name. Several tunnels have been identified which access the vein deposits at various elevations. The combined workings have been mapped for several kilometers and this extensive underground infrastructure serves as evidence of the intensity of mineralization throughout the area. The historic mining activity was concentrated on the highest grade veins and the project geologists have begun work to search for deposit areas of interest that were overlooked by the previous mine operator.
 
Early stage exploration work at this target included soil sampling and trenching programs that covered a much wider zone surrounding the old mine workings. The results from this work indicated the potential for a large area of alteration bearing lower grades of silver and gold, along with the presence of significant lead and zinc values. This has been interpreted to suggest that a potential bulk tonnage poly-metallic deposit of disseminated alteration may exist at Pasacancha.
 

6) Santa Rosa and Corongo Area Gold Project  - Central Peru - J.V. partner found

Note: Duran Ventures found a joint venture partner to advance this project. The details of the arrangement may be found in the release dated March 18, 2010 entitled "Duran Ventures Announces Joint Venture Agreement on Corongo Gold-Silver Property in Peru". The joint venture partner is a junior miner that used this project as a qualifying transaction and changed its name to 'Viper Gold' -- the Corongo project has very good gold numbers and the name change well articulates the highly prospective nature of the project. The joint venture partner has spent its required $1 Million drilling off high grade gold targets and has earned its 50% interest. It is a win-win scenario for both companies and allowed the project to advance without dilution to DRV.V, allowing DRV.V to keep focused on the big tonnage Cu-Mo-Ag at Aguila.

Santa Rosa/Corongo is a block of claims ~6km - 10km to the northwest of Aquila.  Santa Rosa was identified in 1998 through fieldwork completed by Rio Tinto, a prior operator of the property as part of a joint-venture exploration program. Historic small-scale mining in the area produced gold, copper, and silver from vein and manto systems that outcropped near surface.

Assay results from the J.V.'s four drill holes confirm the presence of gold, silver and copper mineralization throughout the Santa Rosa East area as well as high grade silver mineralization associated with quartz-sulphide veining in COR004 that intersected 1.70 metres grading 2.15 grams per tonne ("gpt") gold, 1,785 gpt silver and 2.65% copper and 1.50 metres grading 4.07 gpt gold, 61.20 gpt silver and 1.30% copper. COR002 intersected 2.50 metres grading 0.57 gpt gold, 61.00 gpt silver and 0.14% copper.

Figure 26. 3D Topography and IP anomaly map (above). Click Here [PDF] for an alternate geology map of the Corongo project

7) Panteria Porphyry Copper Prospect - Central Peru - 100% Owned by Duran Ventures

The Panteria Porphyry Copper prospect is located in the Department of Ica in south-central Peru. It consists of twelve contingious concessions totalling 5,300 hectares. Rio Tinto Zinc operated this project in the early 2000’s, and Hatum acquired the concession in 2007. Rio Tinto conducted a very limited exploration program comprising of two or three diamond drill holes. The information from Rio Tinto’s work program is currently unpublished, however the company will inquire about obtaining the data. Hatum’s initial sampling program at Panteria confirmed widespread anomalous copper, gold, and silver over an 800 by 250 metre zone, with local quartz-sulfide stockworks and veining in porphyritic intrusive rocks. There are abundant copper oxides and carbonates on surface with indications of strong surface leaching of copper and iron sulfide minerals. Panteria has all the hallmarks of a significant supergene copper deposit with an underlying hypogene porphyry copper system.

Duran has advanced with surficial geological mapping of over 200 hectares, and has collected over 200 chip, channel, and panel samples. Duran geologists have identified extensive zones with stockwork quartz veinlets and oxidized pyrite, which are part of a large phyllic alteration system that grades outwards to zones of argillic and propylitic alteration. The alteration system appears to be controlled by a northeast trending structural zone. Duran's geologists have seen a lot of copper mineralization associated with quartz. They found magnetic stringers in the potasic alteration zone, indicating another porphyry target.

8) Don Pancho Silver-Lead-Zinc Project - Central Peru - 100% Owned by Duran Ventures

The Don Pancho Silver-Lead-Zinc Project (600 hectares) is located in the Lima Department.

Duran has 100% ownership and is sitting in a potential cash flow situation for the company with prime mineralized property next to a 2000TPD mill now being built. Trevali Resources Corp. is recommencing operations at the former Santander Mine in west-central Peru (source: http://www.trevaliresources.com/s/Santander.asp ).

Figure 27. Partial claim map of Trevali with approximate location of Duran Ventures' 600 hectares superimposed on map

There is a large breccia body on the Don Pancho property that runs ~400m wide and 800m long that has numerous lead-zinc showings all over the place -- Duran has taken a number of samples and many are up to 250 grams of silver (~8-10 ounces) per tonne and 4% - 5% lead-zinc. These are very similar numbers as to the Trevali numbers and it is the same geology. The Trevali mill is only a few kilometers away.

The Don Pancho Silver-Lead-Zinc Project (600 hectares) is located in the Department of Lima. This project is approximately 10 kilometres to the west of Trevali Resources’ Santander Mine, which has updated a resource estimate (April 2009) of 5.3 MT of 3.34% Zn, 1.27% Pb, and 38 g Ag/T (indicated category) and 2.24 MT of 2.92% Zn, 0.5% Pb, and 18 g Ag/T (inferred category). The Don Pancho has similar geology to the Santander Deposit, with carbonate-replacement style Ag-Pb-Zn mineralization. The Don Pancho alteration system covers a northwest-trending area of over 300 x 800 metres, with large galena and sphalerite bearing breccias, veinlets, and stockwork zones visible on surface.
 
Hatum Minas conducted several sampling campaigns on the property, including the collection of 41 surface grab and chip samples, and a total of 28 underground chip and channel samples. Surface samples have returned up to 238 grams silver per tonne, 9.49% lead, and 4.15% zinc. Underground sampling returned up to 838 grams silver per tonne, 11.6% lead, and 7.92% zinc. Duran

Jeffrey J. Reeder, P. Geo., has a B.Sc. from the University of Alberta and since 1992 has been registered as a professional geologist with the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Reeder is the geologist that originally identified and acquired the Aguila copper-moly project in Peru for MacMillan Gold Corp. (now a wholly-owned subsidiary of Duran Ventures). Mr. Reeder has 16 years of experience in Peru and is fluent in Spanish. Mr. Reeder's experiences prior to joining MacMillan Gold included working with Noranda Exploration and the Hunter-Dickenson Group of Companies. Mr. Reeder was also responsible for identifying the Pinaya Copper-Gold project currently being explored by AM Gold Inc.
 

Todd Bruce, B.Sc., Director
Mr. Bruce holds a B.Sc. in Geology from the University of Rhodesia and a Graduate Diploma in Engineering (Mineral Economics) from the University of the Witwatersrand in South Africa. Mr. Bruce has held senior management and Board positions with Anglo Platinum, IAMGold Corporation and Crystallex. He brings extensive operational and development experience, and strengthens and broadens Duran’s collective board expertise. Mr. Bruce served as CEO, President and Director of Crystallex International Corporation, Highlights of his tenure included completion of a bankable feasibility study for the Las Cristinas project and financings that raised nearly C$250 million. Before Crystallex, Mr. Bruce served as President and Chief Operating Officer of IAMGOLD Corporation, whose principal assets during his tenure comprised the Sadiola and Yatala gold mines in Mali. Mr. Bruce played a leadership role in the growth of IAMGOLD from its initial non-producer status to attributable gold production of almost 300,000 ounces in 2002, the implementation of IAMGOLD’s innovative “Gold Money” policy, and in the merger of Repadre and IAMGOLD in January, 2003.

John P. Thompson, P. Eng., Director
Mr. John P. Thompson, P. Eng. (Geology) has a B.Sc. and a M.Sc. from Acadia University in Nova Scotia. Mr. Thompson has been a director since June 2006. Mr. Thompson has over 35 years of surface and underground exploration, mine development, and mineral resource estimation experience. He has worked in Canada, the United States, the Dominican Republic, South America, and Asia. Mr. Thompson is currently the President and CEO of Sona Resources Corporation.

  
Joseph Del Campo, CMA, Chairman, Director
Mr. Joseph Del Campo, CMA, is a graduate of Ryerson Polytechnical Institute in Toronto and has been a director and audit chairman since July 2006. Mr. Del Campo is a director of Unigold Inc. and Viper Gold Ltd.

Daniel Hamilton, Chief Financial Officer
Mr. Hamilton has a Bachelor of Commerce and a Bachelor of Administration from the University of Ottawa. He brings over 25 years of post-qualification experience in senior accounting and financial roles. He previously served as Chief Financial Officer of Crystallex International Corporation and his experience includes Vice President, Controller for Amec Americas (a multi-national engineering and project management services firm) and Group Controller, Zinc at Noranda (now Xstrata Zinc).

Carmen Yuen, B.Com, Secretary and Treasurer
Ms. Carmen Yuen, CPA, is a graduate of the University of Toronto with a Bachelors of Commerce and has been Secretary and Treasurer of the Company since December 2007. Ms. Yuen has experience in accounting and public reporting for junior resource companies. She is currently the Chief Financial Officer for MacMillan Minerals Inc. and Cache Exploration Inc.

Juan Jose Ari Huanca, General Manager Peru
Dr. Juan Jose Ari Huanca studied law at the Faculty of Law at the Universidad Nacional San Agustin in Arequipa, graduating with an undergraduate degree in 1996, and acquired the title of Professional Lawyer in the same year. His academic level was formally recognized as ‘Brilliant’, one of only three students in the history of this legal faculty to achieve that standing. He is the founder and General Manager of Ari and Associates Legal Firm in Arequipa. He held various positions with Canper Exploraciones S.A.C., operators of the Pinaya mineral exploration project in Puno, Peru. Positions included legal advisor, administrative manager, and general manager from 2004 to 2008. During this time, he was instrumental in negotiating the original property option with the local owners, the negotiation and removal of informal gold miners, and surface rights agreements with local landholders. His superior ability with strategy, planning, management, community relations, and legal analyses is a tremendous asset to Duran Ventures’ operations in Peru.

For more information contact Duran Ventures Inc.'s head office at: Ph (416) 867.1591
  

E-mail: info@duranventuresinc.com   Company's web site: www.duranventuresinc.com

SEDAR Filings: URL