Duran Ventures Reports 33.5 Metres of 1.07 Grams of Gold/Tonne and 69.1 Grams of Silver/Tonne from Channel Sampling at Corongo Project, Peru

10/12/2010 [ACCESSWIRE]

TORONTO, CANADA – October 12, 2010 –Duran Ventures Inc. (“Company”) (TSX-V: DRV) is pleased to provide an update on exploration activities at the Company’s Corongo Project, located in the Department of Ancash in Northern Peru. The project is located approximately 400 km north of Lima, and 5-10 kilometres to the northwest of the Company’s flagship Aguila Porphyry Copper-Molybdenum Project. A total of 3,100 hectares are covered by 11 contiguous concessions. The Company has entered into a mineral property option agreement with LeBoldus Capital Inc. (TSXV: LEB) whereby LeBoldus can acquire a 50% interest in Duran Ventures’ Corongo Project. The details of this transaction are described in a Company news release dated March 18, 2010.

The Company interprets the model of the gold and silver mineralization at the Corongo Project as an intermediate sulphidation epithermal system. Characteristics of this type of system include the proximity of gold and silver mineralization to porphyritic intrusive bodies, drusy quartz stockworks, banded textures in the quartz and quartz-sulfide veins, and the geochemical association of gold and silver with arsenic, antimony, barium, bismuth, lead, and zinc.

Initial surface work is focused on two main areas, the Santa Rosa East and Descubridora Zones, which both returned strongly anomalous gold and silver values in Company sampling conducted in 2009. The objective of the field work is to define potential bulk mineable precious metal targets and prepare the property for a diamond drilling program.

Continuous channel sampling and detailed 1:1000 scale geological mapping are underway. A geophysical survey consisting of a total of 15 line kilometres of induced polarization (IP) and 33 line kilometres of ground magnetics (MAG), spectrometry (SPEC), and differential GPS (DGPS) will be executed by VDG del Peru S.A.C. (Val D’Or Geophysics). This survey is split between the Descubridora and Santa Rosa East Zones. The geophysical program is expected to begin by mid-October. The Company has also commenced the application process for a Category 1 Drill Permit, which allows up to 20 drill platforms. The permitting process is anticipated to require a three-month period to complete.

Continuous channel sampling has focused primarily on the Santa Rosa East Zone to date. A total of 168 samples have been collected from 11 channels. The channels range up to 49.5 metres in length with individual samples within the channel typically 1.0 to 2.0 metres in length, and are designed to cut across mineralized structures where possible. In addition to the large channels field staff have also collected 23 individual channel samples, 5 underground channel samples, and 1 chip sample, for a total of 197 samples. The sample program is ongoing. A map of the channel results and locations will be available on the company’s website shortly.

Results from these first 197 samples from the Santa Rosa East Zone are summarized in the table below.

Of the 197 samples, 70 return greater than 0.1 grams of gold per tonne and 23 return over 1 gram of gold per tonne: the highest values range from 4.8 to 8.3 grams of gold per tonne. 46 of the 197 samples assay at greater than 10 grams of silver per tonne and 9 assay at over 100 grams of silver per tonne. The highest values range from 106 to 976 grams of silver per tonne.

Assaying is carried out by the ALS Chemex Laboratory in Lima, Peru, a laboratory whose quality control system complies with International Standards ISO 9001:2000 and ISO 17025:2005. A four-acid digestion with 33 element ICP-AES analysis is conducted on all samples, with silver, lead, and zinc being reanalyzed with an atomic absorption spectrometry method when analyzing over the ICP limits. Gold is assayed using a fire assay with an atomic absorption spectrometry finish. With samples containing over 10 ppm Au, a gravimetric finish is employed. The Company maintains a secure chain of custody in storing and transporting samples.

Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. 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.