|
May 11, 2012 Vancouver, Canada --
El Niño Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN;
Frankfurt: E7Q; OTCQX: ELNOF) is pleased to announce that Murray
Brook Minerals Inc. ("MBM") has been given formal notice by ELN and
Votorantim Metals Canada Inc. ("Votorantim") of a 50% earned
interest in the Murray Brook, polymetalic project, Bathurst, New
Brunswick. MBM has also been provided with a valid notice that ELN
and Votorantim are exercising their option to acquire and become
owner of an additional 20% (for a total of 70%) beneficial interest
in the Murray Brook mining claims.
As of April 30, 2012, earn-in expenditures and property payments (by
both ELN and Votorantim) have totaled $3,702,791 and $300,000
respectively, of which ELN has contributed 50% as its share of the
costs to earn its initial 25% interest. All expenditures which
exceed the initial earn-in amount of $2,250,000 will be counted
towards the $2,250,000 required to earn the additional 20%. Upon
earning in for 70%, the parties will enter into a formal J/V
Agreement consisting of the following;
ELN-35%/Votorantim-35%/MBM-30%.
Although terms of the Option Agreement provided for a period of
three years to earn the initial 50% and two years to earn the
additional 20%, it is anticipated that the complete earn-in for 70%
will be accomplished in less than 1 ñ years. This accelerated
exploration program is a testament to both ELN and Votorantim's
commitment to advancing the project, due to encouraging results (see
ELN press releases dated: February 28, January 23 and 16, 2012,
November 28, 2011, August 30, 2011).
With approximately 4,000 metres of drilling currently remaining for
this phase and a summer program of surface exploration such as
limited ground geophysics and property wide geological mapping,
prospecting and sampling to determine further targets for an
anticipated fall drill program, the Company looks forward to
continuing to advance the Murray Brook project during the balance of
2012.
About VM Canada (Votorantim Metals Canada Inc.)
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metals;
a company that is part of the Votorantim Group that was founded in
Brazil in 1918 and operates in twenty countries with over forty
thousand employees. Votorantim Metais is the largest
electrolytic-nickel producer in Latin America and one of the world's
leaders in the production of zinc, aluminum and nickel.
About El Niño Ventures Inc.
El Niño Ventures Inc. is an international exploration company,
focused on exploring for lead, zinc, copper, gold and silver in New
Brunswick, Canada and copper in the Democratic Republic of Congo
("DRC").
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
Further Information: Tel: +1 604 685
1870 Fax: +1 604 685 8045
Email: info@elninoventures.com or visit www.elninoventures.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C.,
Canada, V5Z 3X7
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.
Cautionary Note Regarding Forward Looking Statements. Note: This
release contains forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual
future events or results and are based on current expectations or
beliefs. For this purpose, statements of historical fact may be
deemed to be forward-looking statements. In addition,
forward-looking statements include statements in which the Company
uses words such as "continue", "efforts", "expect", "believe",
"anticipate", "confident", "intend", "strategy", "plan", "will",
"estimate", "project", "goal", "target", "prospects", "optimistic"
or similar expressions. These statements by their nature involve
risks and uncertainties, and actual results may differ materially
depending on a variety of important factors, including, among
others, the Company's ability and continuation of efforts to timely
and completely make available adequate current public information,
additional or different regulatory and legal requirements and
restrictions that may be imposed, and other factors as may be
discussed in the documents filed by the Company on SEDAR (www.sedar.com),
including the most recent reports that identify important risk
factors that could cause actual results to differ from those
contained in the forward-looking statements. The Company does not
undertake any obligation to review or confirm analysts' expectations
or estimates or to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. Investors should not place undue reliance on forward-looking
statements. |
