Erin Ventures Announces Cancellation of Option and Joint Venture Agreement
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ERIN VENTURES INC.
NEWS RELEASE – for immediate release
Erin Ventures Announces Cancellation of
Option and Joint Venture Agreement
December 27, 2022
Victoria, BC /Accesswire/
Erin Ventures Inc. (“Erin”) [TSXV: EV], an international mineral exploration and development company with
boron assets in Serbia , reports that its previously announced joint venture and option agreement with Temas
Resources Corp. has been cancelled. As a result, Temas will no longer have any right to participate in the equity
of Erin’s Piskanja Boron Project.
In anticipation of this possibility, Erin has been in dialogue with several other potential strategic partners who are
showing an interest in participation in the development of Piskanja. In tandem , Erin is continuing with the
requisite studies, and remains on its timetable to meet its obligations towards receiving an exploitation permit on
Piskanja.
Tim Daniels, President of Erin added, “ Interest in our Piskanja boron project has grown substantially over the
past many months. In fact, we have been approached both by companies that are important consumers of boron
who are indicating a great interest in securing a long-term supply, as well as by international financiers who see
Piskanja as a unique investment opportunity. This is due in large part to the robust numbers found in our recently
published PEA, as well as the fact that boron demand is enjoying unprecedented growth as one of the singularly
most important minerals in the green energy movement. As a result, we anticipate being able to secure a highly
suitable new strategic partner in the near term.”
In accordance with the terms of the option agreement, Temas has contributed less than the threshold amount
required for it to secure a 1 percent interest in Piskanja . Therefore, as a result, Piskanja remains a 100 percent,
wholly owned subsidiary of Erin.
About Piskanja Boron Project
Piskanja is Erin’s wholly owned boron deposit with a Measured Mineral Resource of 1.39 million tonnes
(averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48 million tonnes (averaging 34.05% B2O3), and
an Inferred Mineral Resource of 284.7 thousand tonnes (averaging 39.59% B2O3), calculated in accordance with
the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as
disclosed in Erin’s report titled, “Technical Report and Preliminary Economic Assessme nt For The Piskanja
Borate Project, Serbia, June 24, 2022”. The responsible person for the PEA and the Mineral Resource Estimate
contained within, is Prof. Miodrag Banješević PhD. P.Geo, EurGeol, a Qualified Person in accordance with the
CIM Definition Sta ndards on Mineral Resources and Reserves (CIM Standards), and independent of Erin
Ventures.
On behalf of the Board of Directors,
Tim Daniels
About Erin Ventures
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
2
"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
Blake Fallis, General Manager Canada:
Phone: 1-250- 384-1999 or 1-888-289-3746 TSX Venture: EV
[email protected] Europe:
www.erinventures.com Berlin: EKV
Qualified Persons
James Wallis, M.Sc. (Eng), P. Eng., a Director of Erin Ventures, and Nenad Rakic, EurGeol, Piskanja Project
Field Manager, and a consultant to the Company , are qualified persons as defined by NI 43 -101, have reviewed
the technical information that forms the basis for this news release and have approved the disclosure herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that te rm is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Erin Ventures Inc. Investors
Certain statements made in this press release that are not based on historical information are forward -looking
statements that involve substantial known and unknown risks and uncertainties. This press release contains
express or implied forward -looking sta tements relating to, among other things, Erin Ventures ’ expectations
concerning management's plans, objectives and strategies, including its plans for advancing the Company's
Piskanja Project through to an exploitation license. These statements are neither promises nor guarantees but are
subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual
results to differ materially from those contemplated in these forward-looking statements. Existing and prospective
investors are cautioned not to place undue reliance on these forward -looking statements, which speak only as of
the date hereof. Factors that could cause actual results to differ materially from any forward -looking statement
include, but are not li mited to, failure to convert estimated mineral resources to reserves, capital and operating
costs 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.
Erin Ventures Inc. undertakes no obligation to update or revise the information contained in this press release,
whether as a result of new information, future events or circumstances or otherwise except as expressly required
by applicable securities law. Further information regarding the uncertainties and risks can be found in the
disclosure documents filed by Erin Ventures with the securities regu latory authorities, available at
www.sedar.com. 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.