Duran Signs Letter of Intent for the Sale of the Ichuna Property in Peru

Duran Ventures (TSXV:DRV)(LMA: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)(CSE:TTC.CN) (“Tartisan”) for cash consideration of $50,000 CDN 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 which 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.
As quoted in the press release:

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.”

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