Erin Ventures Announces Feasibility Study Underway for its 100% Owned Piskanja Boron Project
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ERIN VENTURES INC.
NEWS RELEASE – for immediate release
Erin Ventures Announces Feasibility Study Underway
for its 100% Owned Piskanja Boron Project
January 18, 2023
Victoria, BC /Accesswire/
Erin Ventures Inc. (“Erin”) [TSXV: EV], an international mineral exploration and development company, is
pleased to report that the process to generate a Feasibility Study which conforms to Serbian mining laws has
recently commenced for its Piskanja Boron Project. Review and approval of the Feasibility Study by the Serbian
Mining Ministry is the final requisite in the mineral exploitation licensing approval process.
A Serbian compliant feasibility study is of similar scope , scale and confidence level as a CIM compliant pre -
feasibility study. The Piskanja Feasibility Study will define the optimal development scenario for an underground
mine, product beneficiation circuits, plant site, infrastructure, environmental safety, and a closure plan. The study
will include a thorough analysis of all aspects of the project , and will incorporate data from several extensive,
external studies, including Erin’s recently completed Geological Elaborate. The study will be compiled by a n
independent, and highly reputable engineering group located in Serbia , and is expected to take 6 months to
complete.
Tim Daniels, President of Erin added, “We are very pleased to be underway with the process to rigorously evaluate
the development plan of our Piskanja Project. Obviously, the completion and approval of a Feasibility Study will
be a pivotal milestone in the advancement of Piskanja towards a going-concern mining project”.
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
"EV". For detailed information pl ease see Erin's website at www.erinventures.com or the Company's filed
documents at www.sedar.com.
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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, 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 term 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 limited 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 re gulatory 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. "I nferred
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.