Erin Ventures Inc. [TSX-V: EV] has commenced the mining license approval process for its Piskanja boron property in Serbia.
The requisite first step in the Serbian mineral exploitation licensing process is the submission of a Geological Elaborate to the Serbian Ministry of Mining, which Erin has now done. Erin’s Geological Elaborate is the compilation of several studies (based upon the exploration work concluded by Erin), including a resource calculation, beneficiation testing of materials from the deposit, a preliminary economic study, engineering, hydrogeology, and other studies. Erin requires approval of the Elaborate by the Serbian Mining Ministry, which results in the grant of a “Certificate of Reserves”.
Upon receiving the “Certificate of Reserves”, Erin may then proceed with the submission of other documentation which is required for a mining license to be issued. The second step of the approval process is the granting of an “Approval of Exploitation with Exploitation Field”. In order for Erin to secure this second approval it must submit a (Serbian compliant) feasibility study, an environmental impact assessment and base line study, along with opinions from the municipal urban planning authority, the environmental protection agency, and the institute in charge of cultural heritage protection.
The final step in the licensing application process is the “Approval of Mining Works” which includes the first two approvals plus proof of ownership (or usage rights, easements, etc.) of the land designated for construction of mining facilities, an approved final mining design, and an opinion from the ministry responsible for water management regarding any water management agreements required.
It is anticipated that this mineral exploitation licensing process will take several months to complete. There is no assurance that Erin will receive all the required approvals. While the license process is underway, Erin intends to continue with exploration of other areas of the Jarandol Basin between the two known borate deposits, and with step out drilling of the Piskanja deposit (which remains open and untested in two directions), while concurrently preparing the documentation required as part of the licensing process and continuing its discussions with potential strategic partners and financiers.
Erin is ensuring that the project is being developed in a manner which provides disclosure in compliance with internationally accepted NI 43-101 standards, as well as conforming to requisite Serbian mining laws and standards. By doing so, Erin’s mine development planning and implementation will conform to the highest standards expected by the Serbian authorities, the international community, and potential strategic partners and investors.
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’s shares are traded on the TSX Venture Exchange under the symbol EV. For detailed information please see Erin’s website at www.erinventures.com or the Company’s filed documents at www.sedar.com.
The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a consultant to the company, who is a Qualified Person under National Instrument 43-101.
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
Erin’s 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.