ERIN VENTURES INC. (“Erin”)

NEWS RELEASE – For Immediate Distribution

Erin Ventures Inc. [TSX-Venture: EV] is pleased to announce the following progress report from the exploration program on Erin’s Piskanja boron project in Serbia:

Erin has received chemical analyses of 7 reverse circulation holes drilled by Erin in a prior exploration program, which have not been previously announced. These samples were collected during Erin’s drill program in 1997, and stored in a secure location since that time. This 1997 data will be combined with the data currently being collected from Erin’s ongoing drill program, in order to establish a resource estimate compliant with Serbian mining laws, so that Erin may proceed with the application for a mining license as soon as possible. It is anticipated that this application for a mining license will be made early in 2012. The ability to include the chemical analyses of these 7 prior holes with those of the current drill program is significant in that it saves Erin from having to replicate this work, saving several months and many hundreds of thousands of dollars.

Result Highlights
Holes B-8/97; B-10/97; and B-29/97 were in-fill holes designed to help establish a compliant resource estimate, sufficient to qualify for a mining license. The two known main borate beds were intersected for an average total of 7 metres of compact (high grade) borate.

  • Hole B-8/97 returned a total of 6.5 metres of high grade boron, including a 3.0 metre intersection of 26.9% B2O3.
  • Hole B-10/97 returned two beds totaling 7 metres of high grade boron, including a 4.0 metre section in the upper bed of 34.6% B2O3 and a 2.0 metre lower bed of 31.3% B2O3.
  • Hole-B/29 returned a total of 7.5 metres of high grade boron in two beds, including 1.0 metre of 34.9% B2O3 and 4.0 metre of 25.1% B2O3.

Additionally, 4 reverse circulation holes numbered B-16/97; B-36/97; B-40/97; and B-41/97 were drilled to help define the northern and eastern boundaries of economic boron reserves.

Each of these 4 boundary holes intersected the two primary borate beds. The bed thicknesses range from 1.0 metre to 4.5 metres thick, with an average total thickness of 5 metres of borate per hole. As anticipated, grades of B2O3 were lower in these holes, as the outer limits of the deposit are reached in a northerly and easterly direction. However, results were encouraging in that they indicate that the deposit may extend further to the north than originally thought.

  • Hole B-16/97 returned 5.0 metres of B2O3 in total with a 2.0 metre intersection of 21.5% B2O3
  • Hole B-40/97 included an intersection of 1.5 metres of 32.5% B2O3
  • Hole B-41/97 returned 6.0 metres of B2O3 in total with a 2.0 metre intersection of 22.8% B2O3

Conclusions

These results are confirming the continuity and extension of the upper and lower borate beds, with bed thicknesses varying from 2 to 6 plus meters. B2O3 values and bed thickness are proving to be consistent with historical drilling results. These results continue to support the potential for an economically viable resource. While boundaries of the deposit have been partially defined to the north and east, the deposit remains open to the south and west, supporting the potential to expand the tonnage.

Current Exploration Program Update

Erin is conducting a diamond drill program at Piskanja totalling approximately 5,000 metres of HQ and larger diameter vertical core drilling. The program consists of in-fill drilling and the twinning of certain historical holes. Engineering, geohydrology, environmental and other required studies are underway in conjunction with this drilling. This phase of exploration will form the base for a pre-feasibility scoping study.

Currently 3 drilling rigs continue to operate on a 24 hour basis, with a 4th drill expected to be operational within the week. The 3 rigs are producing approximately 40 metres of core per day. With the inclusion of the 4th drill, management expects approximately 65 metres of core to be drilled daily.

Three drill holes are currently complete, with chemical analysis expected in the near term. An additional 3 holes are nearing completion, and are expected to be completed over the next several days. It is anticipated that approximately another 4 to 6 holes will be required in this phase of exploration in order for Erin to proceed with the application for a mining license.

If expected drilling projections are met, it is anticipated that by the end of January 2012, sufficient drilling may have been completed to proceed with a mining license application. At the same time, exploration will continue with a goal of expanding the known tonnage beyond the current estimates.

Chemical Analyses are as follows:

  • Results are stated as a percentage concentration.
  • All measurements are metric.
  • Chemical analysis was conducted by the Chemical Laboratory of the Geological Institute of Serbia.
  • Analytical Methodology: standard chemical analysis.
  • Location: Piskanja Project, Baljevac, Serbia.
  • Sample type: Reverse circulation – centre line sampling system.
  • Azimuth/dip: vertical hole, 90 degree dip.
  • Sample interval is 0.5 metres.
  • 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.

About Piskanja

The 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). The boron at Piskanja is primarily colemanite and ulexite. The Piskanja deposit has the potential of hosting additional significant borate tonnage beyond the historical estimate, based on initial review of the historical drill information and 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.