Duran Ventures Closes $527,250 Financing

Precious Metal Exploration

Focused on exploration and advancement of mineral projects in Peru

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Duran Ventures Closes $527,250 Financing

posted on Apr 29, 2009 01:21PM

April 29, 2009

Duran Ventures Closes $527,250 Financing

TORONTO, ONTARIO--(Marketwire - April 29, 2009) - Duran Ventures Inc. (TSX VENTURE:DRV) has filed and received TSX Venture Exchange acceptance for a private placement financing of $527,250 with terms as news released April 13. The Company is pleased to have closed on over 105% of the $500,000 originally sought.

Seven directors and two senior officers subscribed for 687,500 units for $68,750 representing 13% of the financing. Two Peru employees including our General Manager subscribed for an additional 140,000 units for $14,000 representing 16% by directors, officers, and employees.

Joseph Del Campo - Director & Audit Chairman - 137,500 units
John P. Thompson & Associates - Director's company - 100,000 units
John P. Thompson - Director - 55,000 units
Jeffrey Reeder - Director & Technical Chair - 110,000 units
David Goldman - Director & Chairman - 50,000 units
David Bending - Director - 40,000 units
David Libby - Director - 35,000 units
Cary Pothorin - President - 100,000 units
Carmen Yuen - Treasurer, Corporate Secretary, Interim CFO - 50,000 units
Juan Jose Ari Huanca - Peru General Manager - 100,000 units

The financing resulted in the issue of 5,272,500 common shares at $0.10 restricted for four months plus a day (August 18 or August 30, 2009). The financing also resulted in the issue of 2,636,250 Warrant A's and 2,636,250 Warrant B's. Each Warrant A entitles the holder to purchase an additional common share of Duran at an exercise price of $0.15 for twenty four months (expiry date of April 17 or April 29, 2011) 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 for twenty four months (expiry date of April 17 or April 29, 2011) 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 previously had 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 consisting of 398,000 common shares restricted for four months plus a day until August 30, 2009 were issued as follows:

-128,000 shares to Dehradun Financial Corp., Delta, B.C.
-100,000 shares to PowerOne Capital Markets Limited, Toronto, Ontario
-60,000 shares to Tauney Yu, Toronto, Ontario
-50,000 shares to LOM Capital Limited, Hamilton, Bermuda
-50,000 shares to Michael Kachanovsky, Milton, Ontario
-10,000 shares to Granite Associates Limited, Mississauga, Ontario

Duran now has 64,582,012 common shares issued and outstanding.

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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