TORONTO, CANADA--(Marketwired - July 22, 2013) - Duran Ventures Inc. (News - Market indicators)(LMA:DRV) ("Duran" or the "Company") is pleased to report that it has filed an updated technical report pursuant to National Instrument 43-101 ("NI 43-101") in support of the Company's June 7, 2013 news release announcing 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 Department, 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., and presented in the Company's June 7, 2013 News Release. The Initial Resource Estimate from March 8, 2012 is presented in Table 2.

* 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.

* 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 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 interpolation of grades to inside a 0.1% copper cut-off domain (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.

Corporate Update

Rio Alto Mining Ltd. has notified the Company that it has relinquished the option on the Ichuña Cu-Ag property. Seven diamond drill holes totaling 2,754 metres were completed along intrusive and limestone contact(s) where access and community agreements are in place. The drilling did not return significant results along this contact. The necessary access agreements could not be secured to properly drill test the area of the IP geophysical northwest-southeast anomaly measuring over 1,500 metres in length. The Ichuña project is located 120 kilometres northeast of Arequipa in the department of Moquegua in sourthern Peru, and adjacent to the Chucapaca project of Gold Fields Ltd. and Compañia de Minas Buenaventura SAA. The Company will continue discussions with the local communities to continue the exploration work.

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"

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 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.