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May
21, 2014 Vancouver, Canada -- El Niño
Ventures Inc. ("ELN" and the "Company")
(TSX.V: ELN; Frankfurt: E7Q; OTC Pink:
ELNOF) is pleased to announce a
non-brokered flow-through and non
flow-through private placement of up to
a combined 10,000,000 units for gross
proceeds up to $1,000,000.
Both the non flow-through unit ("NFT
Unit") and the flow-through unit (''FT
Unit'') at a price of $0.10 per Unit,
will consist of one common share and
one-half of one non-transferable share
purchase warrant ("Warrant"). Each whole
share purchase Warrant will entitle the
holder to purchase one common share of
the Company at a price of $0.20 per
share for 12 months from closing,
subject to an accelerated expiry, such
expiry being accelerated to 30 days in
the event the Company's shares having
closed at or above a price of $0.30 per
share for 10 consecutive trading days on
the TSX Venture Exchange.
The Company also reports that as
mentioned in the previously announced
Option Agreement with MMG Limited (see
News Release 05/20/14), MMG Limited is
participating in the private placement
for a total of USD$250,000. Management
is pleased to have MMG take the lead
order for the private placement and
further demonstrates their commitment to
the overall success of ELN, for not only
for the Kasala project but for the
Company's other projects as well. The
proceeds of this private placement will
be used for potential acquisitions,
investments and general working capital.
The private placement and any finder's
fees payable are subject to regulatory
approval.
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"). A
recent consolidation resulted in the
Company having prior to the above
financing of 30.6 million shares Issued
& Outstanding with a current market cap
of approx. 2.0 million.
Kasala copper/cobalt project, (DRC)
One of the newest copper discoveries in
the Central African Copperbelt, El Niño
Ventures' Kasala prospect is located
approximately 70 kilometers northwest of
Lubumbashi, Democratic Republic of
Congo's second largest city and the
center of the country's massive
copper/cobalt mining industry. The
Central African Copperbelt contains over
10% of the world's copper and 34% of the
world's cobalt. The Kasala project
permits are located close to the
Kinsevere Mine, which is expected to
produce 24,000 tonnes (52 million
pounds) of copper annually for the next
20 years.
Kasala Prospect mineralization zone is
open to expansion by drilling to the
north, south and west, and to depth. As
drilled, the Kasala Prospect oxide zone
measures ~600m long x 400m wide x 30m
thick. It is very important to note that
many 2008 drill holes ended in copper
oxide mineralization and to note that
adjacent blocks are under‐explored
BATHURST PROJECTS - MURRAY BROOK AND
BOJV PROJECTS
Murray Brook massive sulphide Project
(ELN-Votorantim Metals Canada)
The Murray Brook Project is located 60
km west of Bathurst, in the northwest
part of the Bathurst Mining Camp (Figure
4). The Murray Brook deposit is a
zinc-lead-copper-silver massive sulphide
which is the subject of a recently
completed Preliminary Economic
Assessment. The project is supported by
excellent infrastructure including paved
roads, grid electricity and communities
to provide goods, services and skilled
labour. ELN and VMC currently own 100%
of the Murray Brook Project with VMC as
the operator. VMC controls 65% and ELN
controls 35%.
To date, more than 28,000 metres of
drilling has been completed on the
Murray Brook Project. The first NI43-101
mineral resource estimation and the
first metallurgical results were
published in press releases dated
February 2012 and January 2013,
respectively. On June 5, 2013 a positive
Preliminary Economic Assessment was
announced (see
news release). The results of the
PEA demonstrate the potential technical
and economic viability of establishing a
new mine and mill complex on the Murray
Brook property. The projected cash flows
indicate an after-tax NPV at a 5%
discount rate of $96.4 million, an IRR
of 11.4%, and a payback period of 5.4
years (see
news release). The NI43-101
Technical Report is filed on SEDAR and
also available on the ELN website (http://www.elninoventures.com).
Bathurst Mining Camp zinc Project: (ELN-GLENCORE
BOJV)
The BOJV Project is a Joint Venture
between El Nino Ventures Inc. and
Glencore Canada Corporation Canada Inc.
The project covers much of the area of
the Bathurst Mining Camp in northeastern
New Brunswick. Recent exploration
expenditures by Votorantim Metals Canada
Inc. totaled approximately $6.8 million.
The BOJV project consists of 4712 claims
owned 50% ELN and 50% Glencore Canada
Corporation and 2907 claims owned 100%
by Glencore Canada Corporation, together
with an Area of Interest in which ELN
and Glencore Canada Corporation hold
equal interest. Due to the Area of
Interest, the BOJV generates new
projects for ELN at no initial cost. An
example of such project generation for
ELN is the Murray Brook Project.
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. |
