Receives Conditional Approval of Financing

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Receives Conditional Approval of Financing

posted on Apr 17, 2009 12:11PM

April 17, 2009

Duran Receives Conditional Approval of Financing

TORONTO, ONTARIO--(Marketwire - April 17, 2009) - Duran Ventures Inc. (TSX VENTURE:DRV) filed a Private Placement Notice Form 4B with the TSX Venture Exchange for a private placement financing of up to $500,000 subject to regulatory approvals with terms as news released April 13. The TSX Venture has issued conditional approval and Duran has conditionally closed on $436,750 representing 87% of the proposed maximum financing.

The financing remains open and interested parties may inquire by email at duranventures@ca.inter.net or by phone at 416-867-1101.

Six directors and three senior officers subscribed for 707,500 units or $70,750 representing 16% of the conditional close or over 14% of the expected maximum financing.

Joseph Del Campo - Director & Audit Chairman - 127,500 units
John P. Thompson & Associates - Director's company - 100,000 units
John P. Thompson - Director - 35,000 units
Jeffrey Reeder - Director & Technical Chair - 100,000 units
David Goldman - Director & Chairman - 40,000 units
David Bending - Director - 30,000 units
David Libby - Director - 25,000 units
Cary Pothorin - President - 100,000 units
Juan Jose Ari Huanca - Peru General Manager - 100,000 units
Carmen Yuen - Treasurer, Corporate Secretary, Interim CFO - 50,000 units

The conditional close on 4,367,500 units resulted in the issue of 4,367,500 common shares at $0.10 restricted for four months plus a day until August 18, 2009. Duran now has 63,279,012 common shares issued and outstanding. The conditional close also resulted in the issue of 2,183,750 Warrant A's and 2,183,750 Warrant B's. Each Warrant A entitles the holder to purchase an additional common share of Duran at an exercise price of $0.15 until the expiry date of April 17, 2011 (twenty four months from the date of regulatory approval) or thirty days from the date of a news release announcing an earlier expiry date after the closing price of the common shares has been $0.25 or higher for ten consecutive trading days. Each Warrant B entitles the holder to purchase an additional common share of Duran at an exercise price of $0.25 until the expiry date of April 17, 2011 (twenty four months from the date of regulatory approval) or sixty days from the date of a news release announcing an earlier expiry date after the closing price of the common shares has been $0.40 or higher for ten consecutive trading days. Duran has 500,000 warrants outstanding exercisable at $1.50 with an expiry date of October 18, 2009 in addition to these new warrants.

Finder's fees in cash or shares as allowed by the regulatory authorities will be issued after final acceptance is received from the TSX Venture Exchange.

Proceeds will be used for working capital purposes and to fund Duran's work program requirements.

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

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