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 “Debenture”) for an aggregate principal amount of CAD$675,000 (the “Principal”).The Debenture will bear an 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 the 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 the 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:

a) 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;
b) if the Market Price is between $0.11 and $0.50, the Unit Price will be equal to the Market Price less 10%; and
c) 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. Two arms length finders are to be paid finders fees for an aggregate total of $10,125.00.

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. Finders fees may be paid in cash in connection with this offering subject to the limits prescribed by the TSX Venture Exchange.

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 or the Company filed documents at

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
645 Fort Street, Suite 203
Victoria, BC V8W 1G2

Erin Public Quotations:
TSX Venture: EV
SEC 12G3-2(B) #82-4432
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 release contains forward looking statements. The words “believe,” “expect,” “feel,” “plan,” “anticipate,” “project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.