| | | El Niño Ventures Inc. Announces $2,000,000 Private Placement | 
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ELN feb 26 2013
February 26, 2013 Vancouver, Canada --
El Niño Ventures Inc. ("ELN" and the
"Company") (TSX.V: ELN; Frankfurt: E7Q;
OTCQX: ELNOF is pleased to announce
a non-brokered flow-through and non
flow-through private placement of up to
a combined 33,333,333 units for gross
proceeds up to $2,000,000.
Each non flow-through unit ("NFT Unit")
at a price of $0.06 per NFT Unit will
consist of one common share and one-half
of one non-transferable share purchase
warrant ("Warrant"). Each Warrant will
entitle the holder to purchase one
common share of the Company at a price
of $0.12 per share for 18 months from
closing.
Each flow-through unit ("FT Unit") will
consist of one common share and one-half
of one non flow-through,
non-transferable share purchase warrant
at a price of $0.065 per FT Unit. Each
Warrant will entitle the holder thereof
to purchase one additional non
flow-through common share of the Company
at $0.13 for a period of 18 months from
closing.
The proceeds from the private placement
received from the sale of the
flow-through units will be used for the
further development and exploration of
the Murray Brook Polymetallic project
and exploration of adjacent Camel Back
property (Figure 1), both located in the
in Bathurst mining camp, New Brunswick.
The proceeds from the sale of NFT Units
will be used as working and general
working capital.
The private placement and any finder's
fees payable are subject to regulatory
approval. Any securities issued pursuant
to the offering shall be subject to a
four month and a day hold period
commencing on the closing date.
Work in 2013 will include an amended
Resource Estimation, refinement to Phase
1 Metallurgy Study, Preliminary Economic
Assessment Study and phase 2 Metallurgy
Study (pilot plant) of Murray Brook
project and Property scale exploration
including geophysical surveys and
drilling at adjacent Camel Back project.
About El Niño Ventures Inc. Bathurst
Projects
El Niño Ventures Inc. has two active
projects in the Bathurst Mining Camp:
1. Murray Brook Project
The Murray Brook project is a
polymetallic, massive sulfide deposit
and is one of the largest deposits
discovered to date in the Bathurst
Mining Camp, New Brunswick. The Murray
Brook property is located 60 km west of
Bathurst. It is supported by excellent
infrastructure, including paved roads,
grid electricity and communities to
provide goods, services and skilled
labour.
A $3 million exploration budget was
approved for the 2012 exploration
program. It included $2.5 million for
drilling to bring resources into the
measured category at the Murray Brook
deposit and $500,000 for exploration of
the Murray Brook and Camel Back
properties, both of which are covered by
the option agreement with Murray Brook
Minerals. To date, more than 28,000
metres of drilling has been completed
with encouraging results. In February
2012, an NI43-101 compliant resource
estimation was announced (see news
release). The technical report is filed
on SEDAR.com and also available on ELN's
website.
An updated NI43‐101 mineral resource
estimation and metallurgical test
results are slated for completion by the
end of March 2013. Results of these
reports will be incorporated in a
Preliminary Economic Assessment "PEA"
that is slated for completion in the
first quarter of 2013.
ELN and Votorantim Metals Canada (VMC)
currently own 70% of the project, of
which 35% is held by each of the two
parties.
Under a purchase agreement signed by VMC
on August 28, 2012 with MBM and Murray
Brook Resources Inc. (collectively the
owners), VMC acquired the right to
purchase the additional 30% of the
Murray Brook Project from the owners.
ELN has been provided the option to
purchase an additional 15% in the
project.
Although the terms of the Participation
Agreement provided for a three-year
period to earn the initial 50% and two
years to earn the additional 20%, ELN
and VMC completed their earn-in in less
than 18 months.
2. Bathurst Option Joint Venture
Project (BOJV)
Consists of an initial 4,712 claims in
the Tri‐Party Agreement with Xstrata &
VM Canada whereby VM Canada may incur
exploration expenditures of $10 million
over a period of 5 years to earn a 50%
interest. VM Canada may further increase
its interest to 70% by spending an
additional $10 million over 2 years.
Qualified Person Statement
This news release has been reviewed and
approved for technical content by Ali
Hassanalizadeh M.Sc. MBA
P.Geo a qualified Person under the
provisions of National Instrument
43‐101.
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. |
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| | You can view the Next News Releases item: Thu May 2, 2013, Development Update on the Murray Brook Zn-Cu-Pb-Ag Deposit, Bathurst Mining Camp, New Brunswick
You can view the Previous News Releases item: Wed Jan 16, 2013, El Nino Releases Phase 1 Metallurgical Results for the Murray Brook Base Metal Deposit, Bathurst Mining Camp, New Brunswick
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