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September 19, 2018 Rockport, Canada -- El
Nino Ventures (ELN or the Company) (TSX.V:
ELN; OTCQB: ELNOF; FSE: E7Q).
Mr. Harry Barr Chairman/CEO stated: "We
are pleased to be in the field
conducting phase 1 of our prospecting,
and surface mapping program on our 3
gold properties in the Great Northern
Peninsula in Newfoundland Labrador. Fred
Keats, a well-known Canadian prospector,
is heading up this program on our three
100% Newfoundland projects.
Fall Prospecting Program:
The main focus of our summer/fall
program is to complete the following:
-
Review of historical government
records and geological occurrences
on the projects,
-
Ground proof existing and newly
identified mineral occurrences.
-
Prospect, sample and/or channel
sample the occurrences.
-
Identify stream sediment anomalies.
Once the stream sediments are
identified prospecting will focus in
these areas.
- The
second phase of exploration after
identifying metal targets will
involve soil geochemistry, channel
sampling and/or ground geophysics.
- The
overall objective of the above
program is to identify precious
metal drill targets.
Newfoundland Gold Projects
In the first quarter of 2018 ELN
acquired three gold projects in the
Great Northern Peninsula of Newfoundland
(Figure 1). The claims were staked to
follow up on the new Gunner Cove gold
discovery of White Metal Resources. For
more information on the Gunner Cover
gold discovery please see news releases
from White Metal Resources dated
September 5, 2018 and August 24, 2018.
Figure 1
(Left): El Nino Venture Gold Projects --
Great Northern Peninsula, Newfoundland
and Labrador.
Figure 2 (Right): Claim Distribution map
in the St. Anthony's area of
Newfoundland and Labrador.
El Nino's
three gold projects are situated around
the city of St. Anthony and northward
(Figure 2 above), covering approximately
22 kilometers of favorable geology,
similar to that being encountered on the
Gunners Cove Project to the east and
north of the company's three gold
projects. The projects consist of 218
claim units for approximately 18,980
hectares (approximately 46,900 Acres).
ELN is currently seeking option/joint
venture partners on one or more of the
above-mentioned projects.
El Nino Go-Forward Plan
Mr. Harry Barr, Chairman and CEO,
stated:
"Outside of the exploration and
development activities on our existing
projects, El Nino's management team
is working on a plan which would include
innovative ways to move the Company
forward. To that end, the Company
plans to add to its director base and
form an advisory committee with
individuals that have diversified
backgrounds in multiple industries
including mining, oil and gas,
alternative energy, diversified
industrial projects, real estate,
technology, alternative medicine and
communications. The Company is
currently evaluating additional
investments and projects within the
mining industry and management may also
consider investments outside of the
mining industry, which may or may
not require shareholder, director, and
regulatory approval."
About El Nino Ventures Inc.
El Nino Ventures Inc. (ELN) has in the
past years been an International Base
Metals exploration company with its
focus being on the Murray Brook Project
in the Bathurst region of New Brunswick,
Canada. ELN signed an option to purchase
agreement regarding the sale of its
interest on this project (News Release:
Oct 13th, 2016) with Puma Explorations
for $3.1 million dollars. In May 2018
ELN received the second cash payment of
$1,500,000 from Trevali Mining
Corporation, a mid-tier zinc, base metal
company who Puma signed a funding
agreement with and El Nino acknowledged
that agreement.
The 3rd and final payment of an
additional 1 million (total 3.1 million)
is due by May 10, 2019. In addition, a
royalty, net smelter return (NSR) for
the life of the project will be paid
to ELN as outlined below.
- The
NSR will start at 0.25% at a zinc
price of US$1.04/lb and will
increase in increments of 0.25%, to
a maximum of 1.75% above US$1.50/lb
Zinc.
- This
NSR, which is in relation to
approximately 32% of the production
from the Murray Brook Property, and
includes the Mining Lease and the
Camel Back claims, for the life of
the Murray Brook deposit and any new
discovery made on the total project.
- On
September 13, 2018 the price of Zinc
was $1.07/lb USD according to Kitco.
El Nino has 2,000,000 warrants of
Puma and the terms of the warrant are as follows: El Nino will
be given the right to buy 2,000,000 warrants of Puma's ordinary
shares (the warrants) expiring 3 years after the closing of the
transaction based on the following exercise prices:
- 0 to Year 1 (Nov 15, 2017):
Equal to the price of the acquisition equity financing;
- Year 1 to Year 2 (Nov 15,
2018): a 20% premium to the price indicated in 1) above; and
- Year 2 to Year 3: a 20%
premium to the price indicated in 2) above.
In the event Puma/Trevali do not
complete the final option payment to acquire ELN's interest, ELN
will receive its entire interest in the Murray Brook project, back
in good standing. Outside of investigating new innovative ways
to move ELN's business plan forward, the Company also has an
aggressive mineral acquisition program underway with a focus on gold
and base metal projects that are a mix of grass roots, brownfields
and advanced stage projects as previously outlined in this release.
The Company plans to use the Prospector Generator Model which
reduces risk, share dilution and increases discovery potential.
QUALIFIED PERSON
The contents contained herein that relate to Exploration Results or
Mineral Resources is based on information compiled, reviewed or
prepared by Carey Galeschuk, a consulting geoscientist for New Age
Metals. Mr. Galeschuk is the Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical
content of this news release with regard to technical aspects of the
3 Gold projects.
On behalf of the board of director I would like to thank you our
shareholders and other interested parties for your ongoing support.
For more information on the Company
please go to
http://www.elninoventures.com/ to
opt-in.
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
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: 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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