Erin Ventures Inc. (“Erin”) [TSXV: EV] announces today that is has completed a non-brokered private placement offering of convertible and unsecured debentures of the Corporation (the “Debentures”) for an aggregate principal amount of CAD$544,200 (the “Principal”).The Debentures will bear interest at a fixed rate of 12% per annum, to be paid semi-annually in arrears (the “Interest Payments”), and will mature on June 1, 2018 (the “Maturity Date”).

The Interest Payments will be comprised of 50% cash and 50% common shares of Erin, subject to the right of each debenture holder to elect to have an Interest Payment satisfied entirely in common shares. The price of the common shares to be issued to satisfy each Interest Payment will be subject to a minimum price of $0.06, determined by the greater of: (i) the volume-weighted average trading price of the common shares of Erin for the 10 trading days preceding each Interest Payment due date; or (ii) the Discounted Market Price (as such term is defined in the TSX Venture Exchange Corporate Finance Manual) of the common shares at the time of issuance (the “Market Price”).

At the option of each debenture holder, the Principal may be converted (in whole or in part) into units of Erin, once every twelve months. Each unit will be comprised of one common share and one common share purchase warrant (the “Unit”). The formula used to determine the number of Units to be issued upon conversion and the price per Unit (the “Unit Price”) will be as set out below, subject to a minimum Unit Price of $0.10 after the first year following the issuance of the Debenture:

  1. if the Market Price is $0.10 or less, the Unit Price will be equal to the Market Price less 20%, subject to a minimum price of $0.06;
  2. if the Market Price is between $0.11 and $0.50, the Unit Price will be equal to the Market Price less 10%; and
  3. if the Market Price is greater than $0.50, the Unit Price will be equal to the Market Price less 5%.

Each common share purchase warrant issued as part of the Unit will be exercisable for a 1 year period into one common share at a 50% premium to the Unit Price, subject to a minimum exercise price of $0.10.

The Principal cannot be converted if, post conversion, the holder, together with any person, entity or company acting jointly or in concert with such holder, would in the aggregate own, or result in a Control Person (as such term is defined in the TSX Venture Exchange Corporate Finance Manual) or have direction over that number of voting securities of Erin which is equal to 20% or greater of the total issued and outstanding securities of Erin. One arm’s length finder is to be paid a finder’s fee for a total of $600.00.

The Debentures will not be listed on any stock exchange and there will not be a market for the Debentures. In accordance with applicable securities laws, the common shares issued as the result of Interest Payments and/or conversion of principal will be subject to a four month hold period and required regulatory approvals.

The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.

This offering was carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.

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

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.