Duran Ventures Inc. Announces Second Closing of Financing

TORONTO, ONTARIO--(Marketwire - Jan. 7, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Duran Ventures Inc. (TSX VENTURE:DRV) ("Duran" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced bought deal private placement offering (the "Offering") with Canaccord Genuity Corp. ("Canaccord") for gross proceeds to the Company of $1,001,000 on the same terms as disclosed in the Company's December 23, 2010 press release.

The net proceeds of the Offering will be used for exploration and development of the Company's mineral projects and general corporate purposes. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the final approval of the TSX Venture Exchange.

In connection with the Offering, Canaccord was paid a cash commission in an amount equal to 6.5% of the gross proceeds of the offering and was issued compensation options in an amount equal to 6.5% of the number of Units sold in the second tranche of the Offering, with each such compensation option exercisable to acquire one common share of the Company until January 7, 2013 at the offering price.

All securities issued in the second tranche of the Offering will be subject to resale restrictions until May 8, 2011 under applicable securities legislation.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

The Units have been offered by way of the "accredited investor" and "minimum amount investment" exemptions under National Instrument 45-106 in British Columbia, Alberta, Ontario and other Canadian provinces and territories as agreed upon by the Company and Canaccord and offshore (collectively, the "Jurisdictions"), and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

About Duran

Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. The company's principal project is the Aguila project, a porphyry copper-molybdenum project with related silver-lead-zinc zones.

Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "DRV".

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.