TORONTO, ONTARIO–(Marketwired – Feb. 22, 2017) – Duran Ventures Inc. (TSX VENTURE: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 Don Pancho polymetallic silver-lead-zinc project (“Don Pancho” or the “Project”) located in the Department of Lima, Peru, to Tartisan Resources Corp. (“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 $500,000 CDN. The parties intend to replace the LOI with a definitive agreement (the “Definitive Agreement”) containing industry standard terms and conditions no later than March 31, 2017, following a due diligence review by both parties.
