Warrants
posted on
May 17, 2010 01:46PM
Focused on exploration and advancement of mineral projects in Peru
NEWS RELEASE 2010-6 Duran Ventures Accelerates Expiry Date of Warrants TORONTO, CANADA – May 17, 2010 – Duran Ventures Inc. (“Duran” or the “Company”) (TSX-V: DRV) announces that pursuant to the terms of the warrants (the “Warrants”) issued as part of the Company’s nonbrokered private placement offering (the “Offering”) completed on August 28, 2009 of 20,000,000 units at a price of $0.05 per unit for gross proceeds of $1,000,000, the Company has elected to exercise its right (the “Acceleration Right”) to reduce the period within which the Warrants may be exercised. The Acceleration Right was triggered when the trading price of the Company’s common shares on the TSX Venture Exchange was at a price equal to or greater than $0.15 for a period of 10 consecutive trading days between the dates of March 29, 2010 and April 12, 2010. There are currently 15,060,000 warrants outstanding as of May 14, 2010. Warrant holders will be entitled to exercise the Warrants until 5:00 pm (Toronto time) on June 16, 2010. All Warrants not exercised on or before such time will expire and be of no further force and effect. Proceeds from the exercise of the warrants will be used for general working capital purposes and to finance the Company’s continuing exploration on the Aguila Copper-Molybdenum property in Northern Peru. The Company plans to continue drilling at the Aguila porphyry and to test several geological and geophysical targets elsewhere on the property. The Company also plans to conduct further geological mapping and sampling to define drill targets on the prospective Ichuña property located in the Moquegua district in Southern Peru. The Ichuña property is located less than 3 kilometers northeast of a new gold discovery at the Canahuire Zone of the Chucapaca Property. A joint news release on May 11, 2010 by Gold Fields of South Africa and Minas de Buenaventura of Peru indicated a mineral resource estimate of 5.6 million gold equivalent ounces on the Canahuire Zone. Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol “DRV” For additional information, contact: Tel: (416) 8671591 Fax: (416) 3668131 Website: www.duranventuresinc.com Email: info@duranventuresinc.com Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. 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.