2009-07-31 17:00 ET - News Release

Mr. George Brown reports

DURAN ANNOUNCES PRIVATE PLACEMENT FOR UP TO $500,000

Duran Ventures Inc. has filed a price reservation Form 4A with the TSX Venture Exchange for a private placement financing of up to $500,000 subject to regulatory approvals.

The proposed private placement is expected to raise up to $500,000 by the issue of up to 10 million common shares at five cents per share. Each share unit purchased in this financing includes a warrant which entitles the holder to purchase an additional common share of Duran at an exercise price of 10 cents. The warrants will expire 24 months from the date of regulatory approval unless the closing price of the common shares has been 15 cents or higher for 10 consecutive trading days in which case the warrants will expire 30 days after a news release announcing an earlier expiry date.

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

Subscriptions have been received for 3,350,800 units including 540,000 units (16 per cent) subscribed by two directors and two senior officers.

Interested parties may inquire by e-mail at duranventures@ca.inter.net or by phone at 416-867-1101. Finders' fees in cash or shares as allowed by the regulatory authorities may be paid pertaining to this financing. Closing is expected by Aug. 31, 2009.

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

David Bending has resigned as a director, effective July 31, 2009, due to other commitments. The company wishes to thank Mr. Bending for his years of service as an officer and director. Mr. Bending has agreed to remain a consultant to the company.

Double Jack Mines Ltd. (see Stockwatch news dated July 2, 2009) has requested an extension to Aug. 31, 2009, as originally provided for, in order to obtain a lock-up agreement from a minimum of two-thirds of Double Jack shareholders.

The company wishes to draw your attention to a PowerPoint presentation on its website that summarizes the presentation made at the company's annual general meeting of shareholders.