Erin Ventures Inc. [TSX-Venture: EV] reports that it’s management and members of the Serbian Ministry of Mining have agreed to meet, starting June 25th, regarding a possible settlement to Erin’s legal action over the Piskanja boron property. These meetings will continue to focus on the form and manner of a possible settlement that would be acceptable to both parties including, but not limited to, reinstating Erin’s right to the Piskanja boron property. Erin’s legal action results from the decision of a previous Serbian government to grant a concession to exploit these boron deposits to a third party, in spite of direct knowledge of Erin’s contractual rights to the property. Subsequently, the concession to exploit the Piskanja boron property has been officially returned to the Serbian government, and remains uncommitted.<br><br>

Additionally, the Serbian International Arbitration Court, which is presiding over Erin’s legal action, has concluded the examination of all witnesses. The Court has the right to recall witnesses and/or request additional written information as it deems necessary prior to adjourning to deliberate a ruling regarding this matter. Erin awaits further communication from the Court. <br><br>

Summary of Erin’s Legal Action<br>
Erin is seeking monetary compensation, totaling approximately US$15 million, as the result of Erin’s contention that it holds a valid joint venture contract to develop the Piskanja boron property and, in spite of direct knowledge of Erin’s contractual rights to the property, the Serbian government in power at that time granted a concession to exploit these boron deposits to a third party.<br><br>

Summary of the Piskanja boron property<br>
The Piskanja property has a partially proven and probable colemanite-ulexite resource of approximately seven million tonnes of 39 per cent B2O3 (boron), based upon historic drill data (non NI43-101 compliant).The deposit is open both to the south and the east.Evaluation of the drill-hole data by Erin’s technical advisers indicate that the Piskanja deposit has the potential of hosting additional significant borate reserves.<br><br>

Borate minerals and refined borate products are used extensively worldwide in the manufacture of vitreous products such as fiberglass insulation, textile fiberglass, borosilicate glass, ceramic glazes and porcelain enamels.These applications account for approximately 60 per cent of borate consumption with detergents, fire retardants, metallurgy, agriculture, insecticides, wood preservatives and specialty products accounting for the remainder. Market prices reflect the relative scarcity of borates with prices averaging $250 US/t for colemanite concentrate, $900/t for boric acid, and up to $150/kg for specialty boron oxides.<br><br>

On behalf of the Board of Directors,<br>
Blake Fallis, General Manager<br><br>

Cautionary Note:<br>
There can be no assurance given that any legal or other action currently being pursued by Erin regarding this matter will be successful.<br><br>

The technical information in this release was prepared by James E Wallis, M.Sc. (Eng), P. Eng., a consultant to Erin, who is a Qualified Person under National Instrument 43-101.<br><br>

For further information, please contact:<br>
Erin Ventures Inc.<br>
31 Bastion Sq, #102, Victoria, BC, V8W1J1<br>
Phone: 1-250- 384-1999 or 1-888-289-3746<br><br><br>

Erin’s Public Quotations:<br>
TSX Venture: EV<br>
SEC 12G3-2(B) #82-4432<br>
Berlin Stock Exchange: EKV<br><br>

Forward Looking Statements <br>
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, which speak only as of their dates. 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 for the continued operations of the Company, 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.<br><br>