ERIN VENTURES INC. (“Erin”)

NEWS RELEASE – For Immediate Distribution

19 metres of 39.7 percent B2O3

Erin Ventures Inc. [TSX-Venture: EV] announces continuing positive assay results from the next three drill holes from its Piskanja boron project in Serbia.

Result Highlights

Holes EVP2011-102 through 104 are in-fill holes designed to help establish a compliant resource estimate, sufficient to qualify for a mining license. The three holes returned significant results, intersecting the two known main borate beds containing high-grade borate.

Hole #102 returned a total of 14.3 metres of high-grade borates averaging 36.2 percent B2O3 within the two main beds, including a 5.8 metre intersection (the upper bed) averaging 39.6 percent B2O3, and a mineralized zone of 8.5 metres (the lower bed) averaging 34 percent B2O3, including a 5 metre section of 42.7 percent B2O3.

Hole #103 intersected a continuous layer of 8.4 metres of high-grade borates averaging 35.5 percent B2O3, including a 6.6 metre section of 42 percent B2O3.

Hole #104 intersected a total of 19 metres of high-grade borates averaging 39.7 percent B2O3 within three beds, including a 9.5 metre section of 41.9 percent B2O3, and a 6.5 metre section of 43.9 percent B2O3.

Conclusions

These results continue to confirm the continuity of the upper and lower borate beds, with bed thicknesses varying from 2 to 6-plus metres. B2O3 values and bed thickness are proving to be consistent with historical drill results. The deposit remains open to the south and west, indicating a potential to expand the known mineralized zone.

“These results are significant. To put them in perspective, the Turkish borate reserves (the world’s largest and most commercially successful) average about 26% to 31% B2O3*, and have a comparable mineral composition to Piskanja” said Jim Wallis, Project Manager for Erin Ventures.
*Source: U.S. Geological Survey Minerals Yearbook – 2010

Current exploration program update

Erin is conducting a diamond drill program at Piskanja of HQ and larger diameter vertical core drilling. The program consists of in-fill drilling and the twinning of certain historical holes. Twelve drill holes (approx 4,000 metres) are complete to date, in this phase of exploration, with three drilling rigs on site working ‘around the clock’, capable of drilling approximately 3,000 metres per month collectively. The data collected from this exploration program will be compiled into a geological elaborate that Erin expects to use as the basis for a mining license application, as soon as prudently possible. Engineering, geohydrology, petrology, geotechnics, environmental and other required studies are also underway in conjunction with this drill program, to ensure that the mine development planning and implementation will conform to 43-101 requirements.

A complete sample package from the next four drill holes (#105 to 108, inclusive) is currently at SGS Canada Inc for analysis, and the company awaits the results. Additionally, holes #109, 110 and 111 are complete, with cores being prepared for delivery to SGS in Lakefield Ontario. Drilling is presently underway on holes #112, 113 and 114.

Chemical analyses are conducted as follows:

  • Results are stated as a percentage concentration
  • All measurements are metric
  • Chemical analysis was conducted by the SGS Canada Inc in Lakefield, Ontario
  • Analytical Methodology: standard chemical analysis using ICP mass spectrometer and X-ray Diffraction (Aqua Regia and KOH Fusion and/or Titration)
  • Location: Piskanja Project, Baljevac, Serbia
  • Sample type: HQ size diamond core drilling
  • Azimuth/dip: vertical hole, 90 degree dip
  • Sample interval is 0.5 metres


Click image to enlarge

About Piskanja

Historical data (prepared by, and to, the standards of the Serbian government) states that the Piskanja property has a historical estimate of approximately 7.5 million tonnes, averaging 36 – 39 percent B2O3 (boron). A recently commissioned historical resource calculation by Erin estimated 6,360,369 tonnes, with an average grade of 36.4 percent B2O3 per tonne, based upon 45 drill holes (15,400 metres of core and cuttings). This report classifies the deposit in a “B” and “C1” resource category (the Serbian equivalent of “measured” and “indicated”, according to 43-101/CRIRSCO standards), and states the strong likelihood that the resource is larger than the stated estimate.

Lithology is typical of sedimentary basins, (primarily shales, marls and limestone) with two primary gently undulating borate beds. Mineralization is primarily dense, compact colemanite with some ulexite. The Piskanja deposit has the potential of hosting additional significant borate tonnage beyond the historical estimates, based on the ongoing compilation of assay data showing other zones of possible borate mineralization. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource. Erin is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

Piskanja is located in a historical mining region that has good infrastructure for mining including roads, rail, electric power, experienced miners, and support services. The site is approximately 250 km south of Belgrade, Serbia by good paved roads.

About boron

  • Boron is a critically important industrial mineral. World production of boron minerals reached an estimated 4.35 million metric tons in 2008.
  • Consumption of borates used in high-technical applications is expected to increase by 10 percent in North America and 13 percent in Europe by 2012. China is the largest consumer of boron, where consumption has risen by 15 percent per year from 2000 to 2010.
  • Borate minerals and refined borate products are used extensively worldwide in the manufacture of vitreous products such as fiberglass insulation, textile fiberglass, borosilicate glass (e.g. LCD screens), ceramic glazes and porcelain enamels. These applications account for approximately 60 percent of borate consumption, with detergents, fire retardants, metallurgy, agriculture, insecticides, wood preservatives and specialty products accounting for the remainder.

Source: US Geological Survey, Report on Boron – 2008.

  • Market prices reflect both the relative scarcity of borates and strengthening demand, with current prices for new South American contracts reaching highs of: US$730/tonne for colemanite (40 percent B2O3); US$697/tonne for ulexite (40 percent B2O3); US$1460/tonne for boric acid.

Source: Industrial Minerals Online. October 25, 2011

On behalf of the Board of Directors,
Blake Fallis, General Manager

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
www.erinventures.com

Erin’s 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 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.