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December 20, 2012, Vancouver, BC;
El Nino Ventures Inc. ("ELN" and the
"Company") (TSX.V: ELN; OTCQX: ELNOF
Frankfurt: E7QN) announces that the
Company will re-file its interim
financial statements and management
discussion and analysis ("MD&A") for the
interim periods ended April 30, 2012 and
July 31, 2012 as a result of a change in
the Company's accounting policy related
to its exploration and evaluation
properties.
The Company will now capitalize
exploration and evaluation expenditures,
including the cost of acquiring
licenses. The Company previously
expensed its exploration and evaluation
expenditures as incurred. Costs incurred
before the Company has obtained the
legal rights to explore an area will
continue to be expensed as incurred.
The Company is of the opinion that
capitalizing the exploration and
evaluation expenditures, which is
acceptable under International Financial
Reporting Standards, provides a better
basis of comparison to other similar
junior mining companies.
About El Nino Ventures Inc.
El Niño Ventures Inc. is an
international exploration company,
focused on exploring for zinc, copper,
gold, silver and lead in New Brunswick,
Canada and copper/cobalt in the
Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors,
"John Oness"
John Oness, COO & Director
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. |
