Erin Ventures and Temas Resources Report Progress on the Piskanja Project PEA
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ERIN VENTURES INC.
NEWS RELEASE – for immediate release
Erin Ventures and Temas Resources Report Progress
on the Piskanja Project PEA
Victoria, B.C., March 8, 2022 (CNW Newswire)
Erin Ventures Inc. (“Erin”) [TSXV: EV] and its strategic partner, Temas Resources Corp. (“ Temas”)
[CSE: TMAS], provide a progress report regarding the completion of an updated Preliminary Economic
Assessment (PEA) and Geological Elaborate for the Piskanja Boron Project. The updated PEA is projected
to include an interpretation of the mineral deposit model and resource calculation more complex than that
presented in Erin’s previously published Updated Mineral Resource Estimate (MRE) in 2019. The updated
PEA delineates the location s, qualities, and quantities of the various types of borates within the overall
Piskanja deposit, in contrast to the 2019 MRE which assumed a homogenous mineral deposit comprised
solely of calcium borates. This refinement in the deposit modelling also results in improved mine design
modeling that accommodates the potential for the strategic extraction of the different borate minerals from
within the deposit based upon market conditions and real -world customer demands, as well as planning
surface beneficiation circuits that better match parameters of the deposit.
The improved modeling in the updated PEA will be of commercial importance in the development of
Piskanja, with this data being repurposed in the Geological Elaborate (a Serbian compliant technical study,
similar in scope and accuracy to a North American PEA, and the requisite document as the first step in
the mining license process ) and a future Feasibility Study. I t has however, increased the model’s
complexity resulting in additional time required to develop the deposit model within the anticipated
updated PEA.
The detailed interpretation of the deposit (as will be presented in the updated PEA) is a requirement within
the Geological Elaborate for the approval process of registration of a “Certification of Reserves”, as the
first step in the mine licensing process.
About Piskanja Boron Property
The Piskanja boron deposit, located in Serbia, has an indicated mineral resource of 7.8 million tonnes
(averaging 31.0 per cent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 per cent
B2O3), calculated in accordance with the Canadian Institute o f Mining Definition Standards on Mineral
Resources and Reserves ( “CIM Standards ”), as disclosed in Erin’s report titled, “Mineral Resource
Estimate Update On The Piskanja Borate Project, Serbia, October 2016 - Amended February 28 2019” -
prepared by SRK Co nsulting (UK) Ltd. The responsible persons for the Updated MRE are Dr Mike
Armitage (C.Eng. C.Geol.) and Dr Mikhail Tsypukov who are both full time employees of SRK, Qualified
Persons in accordance with CIM Standards, and independent of Erin and Balkan Gold.
On behalf of the Board of Directors
Tim Daniels
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About Erin Ventures Inc.
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in
Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange
under the symbol "EV". For detailed information pl ease see Erin's website at www.erinventures.com or
the Company's filed documents at www.sedar.com.
For further information, please contact: Erin’s Public Quotations
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746
[email protected] Europe
www.erinventures.com Berlin: EKV
The technical information in this release was prepared and approved by James E Wallis, M.Sc.
(Eng), P. Eng., a director of Erin, who is a Qualified Person under National Instrument 43-101.
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 press release contains or refers to forward -looking information u nder Canadian securities legislation, including
statements regarding the timing of future mineral resource estimates, estimation of mineral resources, exploration results,
potential mineralization, exploration and mine development plans, timing of the commencement of operations and future
production and is based on current expectations that involve a number of business risks and uncertainties. The words
"believe," "expect," “feel,” "plan," "anticipate," “project,” “could,” “should” and other similar express ions generally
identify forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties, and
other factors that could cause actual results to differ materially from expected results. Readers should not place undue
reliance on forward -looking statements. Factors that could cause actual results to differ materially from any forward -
looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and
operating cost s varying significantly from estimates, the preliminary nature of metallurgical test results, delays in
obtaining or failures to obtain required governmental, environmental or other project approvals, political risks,
uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks
involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled
"Risks of the Business" in the Company's most recent regulatory filings which are posted on SEDAR at www.sedar.com.
These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and
other factors made in public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have
a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to
assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher
category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations,
the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume
that all or any part of an inferred mineral resource is economically or legally mineable.