Erin Ventures Inc. (TSXV: EV) is pleased to report the completion of the first five exploratory diamond drill holes on its 100% owned Jarandol Basin Exploration License. Jarandol covers a 35 km2 area directly adjacent to, and between, Erin’s 100% owned Piskanja boron project (covering 3 km2) on the eastern edge of the Jarandol Basin, and the Pobrdje Boron Mine, some 2.5 km away from Piskanja on the opposite edge of the Jarandol Basin (see attached map). Jarandol has the potential to host extensions to the Piskanja boron deposit and/or the potential to host separate similar boron deposits.

Drilling of the 6th hole is well underway, having passed the midway point of its targeted depth. The exploration plan was modified from 4 originally planned holes to 8 (vertical) holes, as Erin’s exploration team opted for somewhat shallower drill holes than what was originally contemplated. The completion of this drill program will fulfill Erin’s license obligations regarding its Jarandol exploration license.

The drill target for this exploration program is located between Erin’s Piskanja boron deposit and the Pobrdje boron mine. The closest Jarandol drill holes are located some 900 meters from the nearest historical drill holes at the Pobrdje boron mine, and more than 1,000 meters from the Piskanja boron deposit, and are in a deeper part of the basin than either of the two known deposits.

Visually, all six holes drilled to date indicate the presence of borate mineralization in field tests, however borate mineralization in holes EVJ-01 to EVJ-03 appear as randomly distributed disseminated nodules and/or veinlets, without any indication of massive borate mineralization.

Drill hole EVJ-04, located some 300 meters to the south of EVJ-01 cut massive borate mineralization at a depth of 201.22 meters to 203.1 meters (1.88 m). Mineralization occurrence and type appears to be similar to that seen in the Piskanja deposit. The first step-out hole EVJ-05, located some 100 meters to the northeast of EVJ-04 also cut a section of massive borate mineralization, similar to that seen in drill hole EVJ-04, at a depth between 260.25 meters and 261.88 meters (1.63 m). The second step-out hole EVJ-06, has been collared some 110 meters SSE of EVJ-04, and was designed to check if there is continuity between the two earlier intersections. At a depth between 135.41 meters and 136.16 meters (0.75 m), a section of massive borate mineralization has now been intersected in EVJ-06, suggesting possible continuity of the borate layer seen in holes EVJ-04 and EVJ-05. This borate layer at hole EVJ-06 is thinning, which is not unexpected as this hole is in direction of the edge of sedimentary basin. Additionally, EVJ-06 intersected a second massive borate zone between 193.01 meters and 194.06 meters (1.05 m) comprised of colemanite and howlite (15 cm nodules). The balance of the drill targets for this year will attempt to further the understanding of this potential new borate zone.

Additionally, 883 samples from the recent in-fill drill program at Piskanja have been sent for chemical analysis, with results to be released as soon as available. Samples from Jarandol will be sent for analysis once the drilling at Jarandol has been completed for this year.

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.

Click map to see enlarged view

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.

About Boron (Source: Critical Raw Materials Alliance, Sept. 2015)

  • Boron, the semi-metallic element with atomic number 5, does not occur in nature as free element. It occurs in the form of a natural mineral associated with other elements such as Na, Ca, and Mg.
  • Among over 200 naturally occurring boron minerals, the most commercially important borates are: Tincal, Colemanite and Ulexite.
  • About 80% of borates placed on the EU market are used in intermediate uses such as in the manufacture of glass & frits and/or for the synthesis of new substances, and in biocidal applications.
  • The remaining one-fifth is used in agriculture (13-14%), in articles (4-5%) and in other uses (2-3%) such as coatings, industrial fluids and/or metallurgical applications.
  • In addition, boron is an essential micronutrient for normal, productive plant growth and is one of seven essential micronutrients for plants.
  • Furthermore, for safety reasons, the use of borates is essential in nuclear power plants.
  • Borates prices decreased between 2008-2009 due to the global economic crisis. After 2010 market conditions stabilised again. See borate pricing historical graph (Link opens new window. Click [X] to close.)

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.