Duran Signs Letter of Intent FOR the Sale of the Ichuna Property IN PERU
DURAN SIGNS LETTER OF INTENT FOR THE SALE OF THE ICHUNA PROPERTY IN PERU
(Toronto, Ontario – March 16, 2017) Duran Ventures Inc. ( TSXV: DRV; BVL: DRV)(“Duran” or the “Company ”) is
pleased to announce that it has entered into a letter of intent (“LOI”) to sell the Company's Ichuña Copper-Silver
Project (“Ichuña” or the “Project”) located in the Department of Moquegua , Peru, to Tartisan Resources Corp.
(CSE:TTC, “Tartisan”) for cash consideration of $50,000 C DN and 500,000 shares of Tartisan. Duran will also
receive an additional 500,000 shares of Tartisan as certain Project milestones are achieved by Tartisan, and will
retain a 2% Net Smelter Royalty (“NSR”) in the Project of wh ich 1% can be purchased by Tartisan for US $500,000.
The parties intend to replace the LOI with a definitive agreement (the “Definitive Agreement”) containing industry
standard terms and conditions no later than May 17, 2017, following due diligence reviews by both parties.
Duran recently announced the sale of its Don Pancho project (“Don Pancho”) to Tartisan (see news release dated
February 22, 2017), and is pleased to enter into a second transaction with Tartisan . The divestiture of the
Company’s non-core assets conforms to the Company’s business model as a “Cash and Project Generator”. With
the sale of the Ichuña and Don Pancho projects, the Company will continue to benefit from successful exploration
and development on both properties by Tartisan. Mr. Jeffrey Reeder, CEO of Duran states “We are pleased to
enter into a second agreement with Tartisan for the sale of our Ichuña project. We believe Tartisan will be in an
excellent position to fund the exploration on both projects. Duran will benefit from the success of Ichuña and
Don Pancho both from its share position in Tartisan and its royalties on future production”.
The closing of the transaction is subject to a number of conditions including entering into the Definitive
Agreement, the satisfactory completion of due diligence review by the parties, receipt of all required approvals
and consents (including all regulatory approvals) and satisfaction of other customary closing conditions.
The Company also announces that it has completed producing Zinc and Lead -Silver concentrates from purchased
mineral at the Aguila Norte Processing plant ( the “Plant”) and will start to process third party mineral shortly.
However, as a result of extremely heavy rainfalls and floods in northern Peru due to the El Niño effect, the
Regional Governmen t of La Libertad has declared a state of emergency for the region . Plant operations and
concentrate shipments need to be delayed until the weather has improved. The decision was made mainly for the
safety of the Plant operations staff during the commission ing phase and to maintain the equipment during this
time.
Jeffrey Reeder, P.Geo., a qualified person as defined in National Instrument 43-101, is responsible for all technical
information 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 companylisted on the
TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol “DRV”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
or Oscar Pezo at (011) 511 422-1467
Website: www.duranventuresinc.com Email: [email protected]
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” wi thin 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 info rmation. 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 analys is
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 o r events to differ materially from those expressed or implied in the forward
looking statements and forward-looking information.