Duran’s Portfolio of Peruvian Projects

Duran’s Aguila Norte Mineral Processing Plant

Duran owns an 80% interest in the Aguila Norte Process Plant that 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 Aguila Norte mineral processing plant hosts crushing, milling, gravity separation and flotation circuits with an initial throughput capacity of 100 tonnes per day. The process plant is presently being constructed by JPC Estructuras y Concreto SAC, a Lima-based contractor and it is expected to be in a commissioning phase in Q2-2016. Duran anticipates feeding high-grade polymetallic and precious-metal, sulphide mineral through the process plant to deliver high-value concentrates available for sale to the Peruvian metal trading market. Duran and its experienced Peruvian team have been identifying multiple sources of mineral feed to fill the initial process plant capacity. The Company is well advanced to receive full permits and licenses which will enable the expansion of the Aguila Norte Process Plant. Expansion is expected to be funded via internal cash flow from plant profitability.

Duran’s Portfolio of Peruvian Mineral Projects

Duran holds a portfolio of very prospective mineral projects in Peru, and is focused on Peru as a proven location for world-class, high-quality exploration projects and mines. During 2011, the Company acquired the Mamaniña Porphyry Copper Project located fourteen kilometers to the south of the Aguila copper/molybdenum porphyry deposit sold by the Company to Industrias Penoles SA de CV in 2014. At the 100% owned Panteria Copper-Molybdenum-Gold Project located in south-central Peru, Company geologists have identified significant porphyry style mineralization with several targets prepared for drilling. The Minasnioc Property is a high-sulfidation, epithermal gold-silver project which has seen significant drill programs from previous operators. The promising Ichuña Copper-Silver-Gold Project is located three kilometers from Buenaventura’s San Gabriel/Canahuire underground gold deposit, containing a 2.5 million ounce gold resource (source -http://www.buenaventura.com) that was delineated from 2008 to 2011. In addition, the Company’s Don Pancho Project hosts a Mn/Pb/Zn/Ag zone of mineralization characterized by Company geologists as multiple replacement horizons/gossans hosted in prospective Cretaceous sediments. Duran plans to derive value from these and other projects by securing property option partners, joint venture partners and prospective sales from their extensive mineral property portfolio.