TORONTO, ONTARIO--(Marketwired - June 7, 2013) - Duran Ventures Inc. (News - Market indicators)(BVL:DRV) ("Duran" or the "Company") is pleased to report an updated resource estimate for its 100% owned porphyry copper/molybdenum Aguila Project, Peru. The Aguila Project is located in Peru's north central Ancash District, 40 kilometres south of the Magistral copper/molybdenum deposit of Compania Minera Milpo SAA ("MILPO") and some 120 km north of Peru's largest polymetallic mine, the Antamina Mine held by BHP/Xstrata/Teck/Mitsubishi.

The Company included data from its 2012 trenching and 2013 drilling programs for the purpose of this update. Table 1 presents the updated Total Resource Estimate as prepared by James A. McCrea, P.Geo. The Initial Resource Estimate from March 8, 2012 is presented in Table 2.

Table 1
Mineral Resource Statement* for Duran Ventures Inc., Aguila Project, Peru,
James A. McCrea, P.Geo., June 7, 2013

* Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Open pit mineral resources are reported at a copper cut-off grade of 0.22 percent copper equivalent and underground mineral resources are reported at a cut-off grade of 0.26 percent copper equivalent. Copper equivalent grades are based on the G&T Metallurgical Services Ltd. determined metallurgical recoveries of 93 percent copper and 91 percent for molybdenum in the intrusive rocks and 83 per cent copper and 82 per cent molybdenum in the sedimentary rocks. Metal price assumptions of US$2.85 per pound of copper and US$13.85 per pound of molybdenum oxide have been used. CuEq is calculated using elemental molybdenum analysis.

Table 2
Mineral Resource Statement* for Duran Ventures Inc., Aguila Project, Peru,
SRK Consulting (Canada) Inc., March 8, 2012

* Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Open pit mineral resources are reported at a copper cut-off grade of 0.22 percent copper equivalent and underground mineral resources are reported at a cut-off grade of 0.26 percent for copper equivalent. Copper equivalent grades are based on averaged metallurgical recoveries of 87 percent copper and 88 percent for molybdenum and metal price assumptions of US$2.85 per pound of copper and US$13.85 per pound of molybdenum.

Company CEO and President, Jeff Reeder, is pleased to present this updated resource estimate for the Aguila Project. Mr. Reeder states, "The initial mineral resource estimate demonstrated the pervasive extent of the Aguila copper and molybdenum mineralization drilled at the property. Subsequent 2012 trenching and 2013 drilling programs have strategically in-filled the central core of the intrusive mineralization at Aguila. We are pleased that our work over this past year has converted a significant tonnage of the Aguila Resource to the Indicated category, now containing 1 billion pounds of copper and 79 million pounds of molybdenum." Mr. Reeder further states: "The Aguila project, along with the Magistral (MILPO), the Raycacocha (Peñoles) and the Mamaniña (Duran) properties are all occurring along a new copper porphyry trend in the north central Ancash department. Aguila has considerable more upside exploration potential and we feel confident for additional discoveries."

Aguila Project Summary

The Aguila deposit is a porphyry copper-molybdenum deposit hosted in hydrothermally altered diorite, quartz diorite, and monzonite porphyry rocks that have intruded sedimentary rocks of the Chicama and Chimu Formations. Copper and molybdenum mineralization consists of disseminated and stockwork style chalcopyrite and molybdenite in the intrusive and sedimentary rocks. Alteration over the deposit consists of mainly potassic alteration with an intermediate argillic retrograde overprint. The sedimentary rocks show strong silicificaton with abundant quartz/chalcopyrite/pyrite and molybdenite stockworks. Supergene mineralization is not associated with this deposit because of high relief and fast erosion rates. Recent work at the Aguila project has focused on assessing the presence of a higher grade zone of copper/molybdenum mineralization in the intrusive rocks that forms the core of the deposit. As drilled to date, the deposit extends for approximately 1,000 metres from east to west, 700 metres north to south and vertically for 1,000 metres. Conceptual pits have been optimized using Lerchs-Grossman techniques. The total resource as estimated has been determined primarily in an ultimate pit shell that extends from an elevation of 4200 meters to its bottom at 3400 meters. Resources determined outside the pit shell have been reported as "Underground Resources". Table 3 represents the sensitivity of the block model estimates to the selection of cut-off grade and a schematic presentation of the "In Pit" resource is presented in Figure 1. Drilling has established that the mineralization extends continuously through much of the surrounding host sedimentary rocks. See Figures 2, 3 and 4 that show plan and drill sections through the resource block model (UTM Grids and vertical levels are provided for metric scale).

Table 3
Indicated and Inferred Block Model Quantities and Grade Estimates within the Pit Shell*, Aguila Project.

* The reader is cautioned that the figures in this table should not be misconstrued as a Mineral Resource Statement. The figures are only presented to show the sensitivity of the block model estimates to the selection of cut-off grade.
** The resource model includes elemental molybdenum assay data. Industry prices are for MoO₃ (molybdenum oxide). A conversion factor of 1.5 was used to correct the elemental molybdenum assay grade (%) to MoO₃ as commercially priced.
CuEq is calculated using elemental molybdenum analysis.

Figure 1 can be viewed at the following link:
http://www.duranventuresinc.com/maps/Figure1-SchematicView_Aguila_Pit_StarterPit_Shell_Res.jpg

MineSight software modeling techniques have been used to determine a higher grade, nearer surface, contiguous body of copper and molybdenum mineralization that is hosted principally in intrusive rocks. Figure 1 above illustrates this higher grade core of mineralization and Lerchs-Grossman optimization has developed a conceptual pit shell that extends from 4200 meters to 3600 meters. This conceptual pit shell has been estimated to contain an Indicated Resource of 71.1 million tonnes at an average CuEq grade of 0.52% plus an Inferred Resource of 26.3 million tonnes at an average CuEq grade of 0.33%. See Table 4 for the sensitivity of the block model estimates to the selection of cut-off grade for the optimized, higher grade resource estimate that is contained in this conceptual pit shell. Such a contiguous body will be the focus of a preliminary economic study for a potential "Starter Pit". Figures 2, 3 and 4 also show this higher grade resource block model in plan and section.

Table 4
Indicated and Inferred Block Model Quantities and Grade Estimates for the High Grade
Core within the Pit Shell*, Aguila Project.

* The reader is cautioned that the figures in this table should not be misconstrued as a Mineral Resource Statement. The figures are only presented to show the sensitivity of the block model estimates to the selection of cut-off grade.
** The resource model includes elemental molybdenum assay data. Industry prices are for MoO₃ (molybdenum oxide). A conversion factor of 1.5 was used to correct the elemental molybdenum assay grade (%) to MoO₃ as commercially priced.
CuEq is calculated using elemental molybdenum analysis.

Figures 2, 3, and 4 can be viewed at the links that follow:

Figures 2 and 3:
http://www.duranventuresinc.com/maps/Figures2-and-3_Section_10000N_CuEq_and_ResClass_Pit_StarterPit_Shells.jpg

Figure 4:
http://www.duranventuresinc.com/maps/Figure4-Plan_View_3800mElvn_ResClass_Pit_StarterPit_Shells.jpg

Duran President and CEO, Jeffrey Reeder, states, "We are very excited by the presence of a 71.1 million tonne core of Indicated Resources, representing higher grade mineralization, primarily in the intrusive rocks that averages 0.52% copper equivalent. Our preliminary metallurgical study demonstrated 93% copper and 91% molybdenum recoveries respectively, in these intrusive rocks."

Positive preliminary metallurgical results determined by G&T Metallurgical Services Ltd. (G&T) (See News Release Jan. 9, 2012) confirmed that the copper/molybdenum mineralization is amenable to standard flotation processing with good recoveries and no deleterious elements.

Resource Estimation Methodology - James A. McCrea, P.Geo.

The Aguila Project mineral resource estimate was prepared by James A. McCrea, P.Geo. Mr. McCrea has over 25 years of experience as a geologist and almost 20 years doing resource estimates.

The database used to evaluate mineral resources for the Aguila deposit contains 51 Diamond drill holes (24,720 metres) and 21 lines of surface channel samples (3,155.63 metres). All drilling and sampling programs were undertaken by Duran between 2007 and 2013 with the exception of five Diamond drill holes completed by Rio Tinto between 1998 and 1999. All Diamond drill holes were completed using HQ and NQ (or thin wall) drilling tools. Drill hole collars were surveyed with differential GPS. Duran submitted approximately 278 core samples for specific gravity measurements to the ALS Chemex laboratory in Lima, Peru. The specific gravity measurements and lithologies logged for each interval were reviewed and it was noted that there was little difference in specific gravity with respect to lithology so an average specific gravity value of 2.78 was assigned globally to all rock types. The specific gravity value is used to convert block volumes into tonnage.

The Aguila deposit is composed of three major lithological units; two intrusive stocks intruding a mixed sedimentary unit (shales to quartzite). Lithological boundaries for the main two intrusive units were interpreted and modelled as wireframe solids by Duran and verified by the author (a grade shell using a 0.1% copper cut-off was built to constrain the sedimentary unit). The assay intervals within the three lithologic units were analyzed using histograms and cumulative probability plots to determine appropriate capping levels. Capping was implemented to control the influence of high grade outliers. The capped assays were composited to 3.0 metres for all lithologies.

Variograms were modelled for copper and molybdenum in each lithologic unit in the Aguila deposit. A grade shell using a 0.1% copper cut-off was built to constrain the estimate in the sedimentary unit and limit the influence of the low grade halo around the deposit. A partial (percent) model was constructed for each lithologic unit to give accurate volume to tonnage conversions. The block size selected was 6 by 6 by 6 metres, which represents a reasonable pairing to possible equipment size selections for the size of the pit, in the author's opinion.

Resources were estimated using ordinary kriging (OK) for copper and molybdenum using constrained estimates for the two intrusive units and for the sedimentary unit. Separate variogram models were applied to all lithologies in the Aguila deposit.

Copper equivalent grades were calculated for all estimated blocks. The copper equivalent calculation was based on long term metal price assumptions of US$2.85 per pound of copper and US$13.85 per pound of molybdenum oxide (MoO₃) and metallurgical recoveries for intrusive rocks of 93% for copper and 91% for molybdenum. Recoveries used for the sedimentary unit were 83% for copper and 82% for molybdenum. The copper equivalent calculation used is a post recovery equivalent.

Resource Classification

Mineral resources for the Aguila project have been classified according to CIM's Definition Standards for Mineral Resources and Mineral Reserves (December 2005). The mineral resources were classified into indicated and inferred mineral resource categories based on drill hole spacing and variogram ranges. Indicated mineral resource categorization was based on the first pass interpolation where to classify a block as indicated there had to be a minimum of 2 drill holes within 60 metres or less of the block. The indicated mineral resources must form a contiguous minable unit in the deposit so a solid model was constructed based upon a two hole minimum interpolation to outline blocks in the vicinity of these parameters that form a contiguous unit. Blocks within this classification wireframe solid were classified as Indicated as they represent block estimates made with a good level of confidence. All other blocks inside of the geological solid models or inside the 0.1% copper grade shell represent estimates with a lower level of confidence and are, therefore, classified as Inferred. Blocks outside the grade shell or geological solids, not in the grade shell, were not interpolated or classified. Additional infill drilling and sampling is required to support a higher classification. It cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration.

Mineral Resource Statement

The Aguila deposit is amenable for open pit and underground extraction so to assist with the interpretation of the mineral resource estimate, a conceptual pit shell was developed using a Lerch-Grossman algorithm. The material outside the resulting conceptual pit shell was considered as available for underground mining. Material outside the conceptual pit shell was determined using a 0.26 CuEq% cut-off. The following assumptions were used to determine potential economic cut-off grades for the deposit:

• Metal price assumptions of US$2.85 per pound for copper and US$13.85 per pound for molybdenum oxide;
• Metallurgical recoveries used for molybdenum were 91% for intrusives and 82% for sediments;
• Metallurgical recoveries used for copper were 93% for intrusives and 83% for sediments;
• Metallurgical, general and administration cost of US$4.25 per tonne of feed;
• Open pit slope of 50 degrees, mining cost of US$1.25 per tonne mined; and sub level caving underground mining method with a mining cost of approximately $US10.00 per tonne mined.

Based on these above assumptions, the author considers that classified resource blocks above grades of 0.22 percent copper equivalent and 0.26 percent copper equivalent show reasonable prospect for economic extraction for open pit and underground mining, respectively. Mineral resources were estimated in conformity with CIM's generally accepted Estimation of Mineral Resource and Mineral Reserve Best Practices Guidelines. The mineral resources may be affected by further infill and exploration drilling that may result in increases or decreases in subsequent resource estimates. While the Company believes that no legal, political, environmental or other risks exist that could materially affect the potential development of the mineral resources of the Aguila Project, the mineral resources may be affected by subsequent assessments of mining, environmental, processing, permitting, taxation, socio-economic and other factors in the future. The Mineral Resource Statement presented in Table 1 was prepared by an independent Qualified Person as this term is defined in National Instrument 43-101. The effective date of the mineral resource statement is May 29, 2013.

Quality Assurance / Quality Control Program

Diamond drill core was photographed and cut in half with a Diamond saw, with one half of the core delivered directly to the analytical laboratory and the other half stored on site for future reference and assay verification. Channel samples cut from the trenches were collected under the direct supervision of Duran geological staff with samples being geologically logged before being bagged and shipped. Assaying was carried out by ALS Chemex (Lima, Peru) a laboratory whose quality control system complies with International Standards ISO 9001:2000 and ISO 17025:2005. Samples were prepared using a four-acid digestion and atomic absorption method for copper and molybdenum, as well as a multi-element ICP analysis. The Company has a QA/QC protocol in place which includes the use of certified standards, blanks, and duplicate samples, check assays carried out at a second laboratory, as well as secure care and custody of samples.

Statistical analyses were performed on coarse duplicates for Diamond drill core and pulp duplicates for chemical laboratory analysis. Additionally, grade QA-QC analyses were performed on standards and on blank samples. The conclusions drawn from the QA-QC analyses are as follows:

• Analyses of duplicates show good precision, indicating that the protocols used for sample preparation and assaying were adequate.
• Analyses of standards used during exploration show good accuracy.
• Analyses of blanks show no serious contamination problems between samples.

The overall conclusion is that QA-QC data generated throughout the Aguila drilling and trenching program meets acceptability criteria and the exploration data can be used with confidence for resource modeling and estimation.

The Author expects to file within the required period, a 43-101 technical report to support the updated resource estimation for Duran's Aguila Project, Peru and that makes the following recommendations;

Recommendations

• Exploration drilling should continue over the Aguila south (deeper) and Aguila East Expansion area and closing off mineralization to the west of the Aguila area (3,000 metres);
• Exploration drilling on the Pasacancha zone (2 km east) to target copper and molybdenum mineralization down dip of the silver-zinc-lead mineralization and geophysical IP targets (3,000 metres);
• Exploration drilling targeting geophysical IP targets other than the above (2,000 metres);
• A Preliminary Economic Assessment of the "Starter Pit" should be undertaken to evaluate the high grade core of copper/molybdenum resource at Aguila
• Commissioning environmental and socio-economic baseline studies for the project.

Company Outlook

The updated resource estimation represents over a 430% tonnage increase in the "Indicated Resource" with a corresponding increase in contained copper of 662 million lbs of copper and 52 million lbs of molybdenum at the Aguila project from the initial resource estimate of 2012. Additional 2012 and 2013 exploration drilling and trenching in the Aguila central core area and a reduction of "unit block size" for modeling purposes (from earlier 12x12x12 meter blocks to 6x6x6 meter blocks for current estimate) contribute to the upgraded tonnage classification. Geostatistical and geological review of the data provide verification of the classification.

A corresponding 35% tonnage decrease in the "Inferred Resource" from the initial resource estimate of 2012 can be attributed to the tonnage converted from inferred to indicated classification and, additionally, the present estimate used methodology that constrained the extrapolation of grades to a 0.1% copper cut-off grade shell. This effectively limited the presence of peripheral lower grade mineralization occurring in the host sedimentary rocks that had been captured in the earlier estimate.

Duran believes that the 100% owned Aguila deposit now demonstrates a significant enhancement of the copper/molybdenum resource. Mineralization at Aguila remains open to the west of the Aguila pit shell, to the east, and at depth to the southwest following the steeply plunging intrusive rocks. Additional porphyry style copper/molybdenum mineralization is believed to underlie silver/lead/zinc mineralization occurring 2 kms to the east at Pasacancha, and the Company has several geophysical (Induced Polarization) anomalies that remain untested to the south of the Aguila pit shell.

Company Information

Duran Ventures Inc. is a Canadian exploration company focused on the exploration and development of porphyry copper and molybdenum, precious metal, and polymetallic deposits in Peru. The Company's principal project is the Aguila Copper/Molybdenum Project. Jeffrey Reeder, P.Geo., a qualified person as defined in National Policy 43-101, is responsible for all technical information contained in this news release other than the Aguila Project mineral resource estimation as presented by James A. McCrea, P.Geo., a qualified person as defined in National Policy 43-101.

Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol "DRV".

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 that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in copper and molybdenum and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our Peruvian activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which 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.