Duran Ventures Announces Name Change to Peruvian Metals Corp. and Provides Corporate Update
Duran Ventures Announces Name Change to Peruvian Metals Corp.
and Provides Corporate Update
(Toronto, Ontario – August 29, 2018) Duran Ventures Inc. ( TSXV: DRV; BVL: DRV)(“Duran” or the “Company”) is
pleased to announce that the previously announced change of name of the Company to Peruvian Metals Corp.
will be effective as of the opening of trading on Wednesday, September 5, 2018 and will trade under the symbol
“PER”.
The purpose of the name change is to reflect the business plan of the Company. Duran Ventures has been
successfully acquiring, optioning and selling mineral property assets throughout Peru for over 20 years. The
management team has developed extensive expe rience and built many local relationships that facilitate the
Company's endeavors. The Company has successfully established the Aguila Norte Mineral Processing Plant
(“Aguila Norte Plant” or the “Plant” ) in Northern Peru and is now processing third party mineral. The Company
will produce at the Plant high quality precious and base metal mineral concentrates for sale. The Company has
also two major mining companies earning a majority interest in two high ly prospective properties that the
Company generated a nd acquired by application with the Ministry of Mines: Panteria Cu -Au with First Quantum
Minerals and Mansa Musa with IAMGOLD Corporation. An update on the progress on the earn -ins will follow
soon.
Duran owns an 80% interest in the Aguila Norte Plant tha t is strategically located just off the Pan American
highway, near Peru’s 2nd largest city, Trujillo, in Northern Peru. Abundant small -scale mining activity occurs in
northern Peru but there are very few independent processing facilities available. The Agu ila Norte mineral
processing plant hosts crushing, milling, gravity separation and flotation circuits with an initial throughput
capacity of 100 tonnes per day.
Duran is currently processing third party mineral by charging a processing fee to registered legal miners. Recently
Duran entered into a mineral purchase agreement and anticipates feeding high -grade lead and zinc sulphide
mineralized material through the Aguila Norte Plant to produce high-value concentrates available for sale to the
Peruvian metal trading market. Duran has identified and is currently negotiating on several mineral purchase
agreements for secure sources of mineralized material . Mineral purchase agreements are more economically
favourable to the Company than charging a simple processing fee. Under mineral purchase agreements t he
Company takes ownership of the concentrates and is able to better leverage its position when negotiating the sale
of concentrates to metal traders. The Company eventually intends to focus only on mineral purchase agreements,
and processing 100% own ed mineral from Duran’s concession s. The Company is currently preparing for
exploitation permits to extract mineral on certai n 100% owned concessions and will process this mineral at the
Plant or other processing facilities in Peru.
Duran will also continue to acquire new exploration projects by using its successful project generation approach.
Besides the internally generated Panteria Cu-Ag and Mansa Musa Au-Ag projects the Company currently has 100%
interests in several gold -silver properties in Northern Peru and several concessions hosting Au -Ag-Cu-Pb-Zn
mineral located in the Huachocolpa Mineral District in South Central Per u. The Company will continue to seek
partners both large and small to develop and explore 100% owned concessions.
Jeffrey Reeder , CEO of Duran , comments: “ Duran's Board of Directors understands the difficulties facing the
mineral exploration industry. The Company is comfortable with its sole Peruvian focus and still sees much value
for its shareholders in the significant potential underlying the Company's portfolio of mineral projects. Duran will
be able to continue acquiring asset s and sustain a successful project generat ion business model by taking
advantage of the strategic location of the Aguila Norte Plant to generate cash flow. T he willingness of the
Peruvian government to allow the formalization of small miners has and will b enefit our Company because of the
need for legal processing plants such as the Aguila Norte Plant and capital to expand mining operations. We are
excited to build partnerships with local miners throughout Peru”.
The Company also announces that a total of 1,500,000 options to purchase common shares of the Company have
been granted to directors and officers at an exercise price of $0.05 per share, expiring on August 28, 2020. The
grant is subject to regulatory approval.
Jeffrey Reeder, P Geo, 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.
For further information on Duran please visit www.duranventuresinc.com .
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
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” 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 pl ace 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 c an 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 i mplied in the forward
looking statements and forward-looking information.