TORONTO, ONTARIO--(Marketwired - April 24, 2017) - Duran Ventures Inc. (TSX
VENTURE:DRV)(LMA:DRV) ("Duran" or the "Company") is pleased to announce the acquisition of three gold-silver mineral
concessions in Northern Peru through direct application with the Peruvian Ministry of Mines or by direct purchase. All
concessions are 100% owned with no underlying royalties, are road accessible, were subject to varying forms of small scale
artisanal mine workings, and were acquired as potential mineral sources for Duran's 80% owned Aguila Norte Mineral Processing
Plant ("Aguila Norte" or the "Plant"). The three properties acquired are summarized below.
Miton de Oro
The Miton de Oro property is accessed via 157 kilometres of mostly asphalt road from Aguila Norte and consists of a 700
hectare concession application that was recently won in a closed bid auction that included Barrick and Newmont as competitors.
Mineralization at Miton de Oro is considered similar to the past producing Machacala Au-Ag mine located 8.5 kilometres to the
northwest. Historic production records that cannot be verified by the Company from the Machacala mine noted by the previous
operators that 232,645 tons of ore were mined with average grades of 6 g/t Au and 10 g/t Ag. Highlights of initial reconnaissance
sampling on the Miton de Oro property of an abandoned, 22 metre long artisanal drift located in the east of the property that
exploited Low Sulphidation epithermal quartz veins hosted in pyroclastic rocks returned 127.1 g/t Ag with 1.15 g/t Au, 881.7 g/t
Ag with 1.32 g/t Au, and 574.21 g/t Ag and 0.34 g/t Au on sample and vein widths of up to 40 cm. Hand selected quartz vein
material from this artisanal workings dump pile returned 660.4 g/t Ag and 1,706.6 g/t Ag. Several other areas on the property
have returned strong Au-Ag mineralization and will require further follow up. A large Low Sulphidation target may exist on
the property.
The initial focus will be on the area of the artisanal workings. Exploration will involve reopening the historic workings
where high grade silver and gold mineralization is located. Initial exploration will comprise of exploration drifts along and
perpendicular to the mineralized structures. Any mineralized material from the drift will be shipped to Aguila Norte for
processing. The Company intends to start the permitting for underground exploration once title is officially granted within the
usual six week period.
Indio Inka
The 100% owned, 470 hectare Indio Inka Property is located roughly 224 kilometres by mostly asphalted road from the Aguila
Norte processing plant. Duran's subsidiary Hatum Minas SAC purchased 100% of the property with a small cash payment with no
underlying royalties. The property is located approximately 5 kilometres northeast of Eloro Resources's Victoria Gold Project in
Northern Ancash.
The property's principal showing consists of high grade gold hosted in a near vertical, silicified breccia structure that
roughly parallels bedding in the host lutite. The mineralized structure reaches 1 to 2 metres wide, and has been subject to
artisanal development on two levels. Sampling within the old working, mostly from oxide/sulphide mix material, has returned
results ranging from 1.48 to 13 g/t Au on 12 samples with sample lengths ranging from 0.4 to 1 metre. Initial metallurgical
samples have shown 89% Au recovery (64% passing -200 mesh) from a Au-Ag-Cu concentrate flotation test in sulphide material and
92% Au recovery (90% passing -200 mesh) in cyanidation bottle roll tests in oxide material. The Company plans to extend the
current mineralization by exploration drifting along the mineralized structures.
Pueblo de Oro
The 500 hectare Pueblo de Oro property is located in the Ancash Department near the small town of Pueblo Libre. The property
is accessed via roughly 292 kilometres of mostly asphalt roads from the Aguila Norte plant and encompasses epithermal, oxide
gold-silver mineralization hosted in fractured, brecciated, and faulted quartzites of the Chimu Formation. Historical mine
workings are localized in a highly brecciated fault zone parallel to the hinge of an overturned, tightly folded syncline where at
least two periods of exploitation have occurred including small, artisanal style tunnels and a large mechanically exploited stope
measuring roughly 3,450 square metres entering the hill for 170 metres with widths of up to 30m. The area was originally claimed
in 1980 by a private Peruvian company and was allowed to lapse in 2013. The property was visited and sampled by MacMillan Gold
(now Duran) in 1996 but only recently acquired by Duran by application in 2014 with other bidders. Due to errors in other
competitor's applications, the Peruvian Ministry rejected the applications and no closed bid auction was necessary. Duran was
notified by the Ministry that it has been awarded the property and title registration should be completed in the next few
weeks.
Sampling in the old workings has returned up to 7.33 g/t Au and 1058 g/t Ag in individual samples with sample lengths of 0.6m
and 0.4m respectively. In total, 36 random samples were taken underground and averaged 0.73 g/t Au and 66.9 g/t Ag. It is
apparent that the Au-Ag grade depends on the brecciation intensity. The old mine dumps returned anomalous results from grab
samples with individual samples assaying 4 g/t Au and 431 g/t Ag. In total, 14 samples were collected from the old mine dumps and
averaged 0.81 g/t Au and 151 g/t Ag. These samples are random grab samples outside the workings and are not necessarily
representative of the mineralization hosted on the property. The Company intends to conduct mapping to understand the structural
controls on the gold-silver mineralization.
The Company intends to find a partner to initially explore the property. The Chimu quartzites are excellent hosts for precious
metal mineralization in Northern Peru. Barrick's massive Alto Chicama Mine and Tahoe's La Arena mines are excellent examples of
this type of precious metal mineralization. The exploration target at Pueblo de Oro is underground high grade operation similar
to PPX Mining's Igor Project in Northern Peru. Any agreement will first assess the economics of treating mineral at Duran's
Aguila Norte plant during the development stage.
Jeffrey Reeder, CEO and President of Duran states "The Mineral Processing business is very competitive and secure mineral feed
is the key to success. Our eventual corporate goal is to feed our Aguila Norte Plant with mineral from 100% owned Duran
properties. These acquisitions are within acceptable transportation distances to the Aguila Norte Plant. We will continue to seek
partners for our properties and focus on creating joint ventures and royalty streams. The acquisitions of these properties follow
our business model as a Cash and Prospect Generator."
Quality Assurance and Quality Control
All sample lots were delivered to their respective laboratory by Company geologists where the laboratory crushed, pulverized,
and split the sample for assay. No quality control material was submitted with the samples.
Miton de Oro samples were analysed for Au and Ag using fire assay with gravimetric finish by G&S laboratories of Trujillo,
Peru, a private and independent laboratory. Two check samples were submitted to Minera Platinum, a separate private and
independent laboratory, for Au and Ag analysis also using fire assay with gravimetric finish and the results fell within
acceptable error limits.
Indio Inka samples were analysed by Inspectorate Services SAC for gold by fire assay with atomic absorption finish and with 44
element aqua regia digestion ICP emission spectroscopy. Samples containing more than 10 g/t gold were re-assayed analyzed using
fire-assay with gravimetric finish. Reanalysis of the over-limit samples using fire-assay with gravimetric finish duplicated the
previous results. No quality control material was employed in the sampling. All samples were also submitted for gold analysis by
fire assay with ICP emission spectroscopy and achieved similar results to gold by fire assay with atomic absorption finish.
Metallurgical tests for the Indio Inka property were completed by Minares Sur and Minera Platinum, two private and independent
Peruvian laboratories.
Pueblo de Oro samples were analyzed by Inspectorate Services Peru SAC for gold and silver by fire-assay with atomic absorption
finish. Over-limit gold and silver were reanalysed by fire assay with gravimetric finish.
Jeffrey Reeder, P.Geo., and a qualified person as defined in National Instrument 43-101, has prepared, supervised the
preparation, or approved the scientific and technical disclosure contained in this news release.
About Duran
Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the exploration and development of
precious and base metal properties in Peru.
Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange and the Bolsa de
Valores de Lima: Symbol "DRV".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) 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. We use words such as "might", "will",
"should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking
statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and
analysis made by management in light of its experience, current conditions and its expectations of future developments as well as
other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or
implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such
statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion
and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such
forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such
expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking
statements and information, readers should carefully consider the various factors which could cause actual results or events to
differ materially from those expressed or implied in the forward looking statements and forward-looking information.