Completed Work Achieves License Compliance
Erin Ventures Inc. (TSXV: EV) is pleased to report the completion of eleven infill drill holes at its 100% owned Piskanja borate project in Serbia. Piskanja is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (averaging 30.8% B2O3), and 6.2 million inferred tonnes (averaging 28.8% B2O3).
With the completion of these eleven drill holes, Erin is compliant with the requirements to keep its exploration license at Piskanja in good standing, as defined by Serbian Mining Laws. Completion of this drilling program was Erin s highest priority for this year, and was completed on schedule. Samples from all eleven of these drill holes have been prepared and submitted for analysis, with the results to be published when completed. This program was designed to raise the confidence level in the central part of the deposit to “measured”, by drilling on a 50 meter by 50 meter grid. This is a key component in advancing the Piskanja project towards Feasibility.
Erin s has now refocused its attention to its second priority project for this year, which will fulfill its obligations regarding its Jarandol exploration license. This license covers a 35 km2 area adjacent to Piskanja, and has the potential to host extensions to the Piskanja deposit and/or the potential to host separate similar deposits. Erin has chosen the first two of four planned drill targets on the Jarandol license area, with two drill rigs currently being deployed to these sites. The two initial drill targets at Jarandol have been chosen along a profile line that is strategically located between the Piskanja borate deposit and the smaller Pobrdje borate deposit, which is located 2.5 km to the northwest of Piskanja.
On completion of the first four holes on the Jarandol license, additional work is anticipated for both Piskanja and Jarandol, subject to the availability of sufficient funds and adequate time in this exploration season. Future plans include: drilling of the final 3 planned infill holes on a 50 by 50 meter grid at Piskanja; several exploratory drill holes to evaluate the potential propagation of ore bodies in the direction of some positive Rio Tinto drill results to the western and southern extremities of the property; seismic testing along 10 to 12 profiles; structural drilling with 2 inclined drill holes to aid in a better understanding of the complexities of the tectonics of the deposit; twinning of 7 historical drill holes for reserve calculation and compilation of a metallurgical bulk sample; drill holes along the alignment of the planned decline and main ventilation shaft for geotechnical purposes; hydrological studies; and, exploration drilling of additional holes at Jarandol using seismic targets.
The ongoing work program at Piskanja and Jarandol is designed to ensure that the project complies with both the Canadian Institute of Mining “Best Practice Guidelines” and Serbian mine licensing and mine development regulations, as well as complying with recommendations made by Erin s geological consulting firm – SRK Exploration Services Ltd.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures Inc.
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin shares are traded on the TSX Venture Exchange under the symbol “EV”. For detailed information please see the Erin website at www.erinventures.com or the Company filed documents at www.sedar.com.
For further information, please contact:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746 USA
www.erinventures.com
645 Fort Street, Suite 203
Victoria, BC V8W 1G2
Canada
Erin Public Quotations:
Canada
TSX Venture: EV
USA
SEC 12G3-2(B) #82-4432
OTCBB: ERVFF
Europe
Berlin Stock Exchange: EKV
The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a director of the company, who is a Qualified Person under National Instrument 43-101.
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.
Forward Looking Statements:
This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words “believe,” “expect,” “feel,” “plan,” “anticipate,” “project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled “Risks of the Business” in the Company s most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and other factors made in public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. “Inferred Resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.