Erin Ventures Announces Filing of Positive Preliminary Economic Assessment for Piskanja Boron Project
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ERIN VENTURES INC.
NEWS RELEASE – for immediate release
Erin Ventures Announces Filing of Positive Preliminary Economic Assessment for Piskanja Boron
Project
August 11, 2022, Victoria, B.C.
Erin Ventures Inc. (“Erin” or the “Company”) [TSXV: EV] and their partner Temas Resources Corp. [CSE: TMAS]
are pleased to report the filing of an Independent Technical Report providing the Preliminary Economic Assessment
(“PEA”) for the Piskanja boron project located in Serbia on SEDAR, as per the terminology , d efinitions and
guidelines given in the Canadian Ins titute of Mining , Metallurgy and Petroleum (“CIM”) Standards on Mineral
resources and Mineral Re serves (May 2014) as required b y NI 43-101 (“The CIM Code”). The CIM Code is an
internationally recognized reporting code as defined by the Committee for Mineral Reserves International Reporting
Standards. The filing follows press release dated June 28, 2022 summarizing the PEA including sensitivity analyses.
Qualified Persons
James E Wallis, M.Sc. (Eng), P. Eng., a director of Erin Ventures, and Nenad Rakic, EurGeol, a consultant to Erin
Ventures, 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.
Rory Kutluoglu, P.Geo, a director of Temas Resources, and Robert W. Schafer, P.Geo, a director of Temas
Resources, are Qualified Persons as defined by NI 43-101, have reviewed and approved the technical information
contained within this press release.
Prof. Miodrag Banješević PhD. P.Geo, EurGeol, is the qualified person as defined by NI 43-101 for the Preliminary
Economic Assessment and for the Mineral Resource Estimate, and is independent of the Company. He has reviewed
the technical information that forms the basis for this news release and has approved the disclosure herein.
On behalf of the Board of Directors,
Tim Daniels, President
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 please see Erin's website at www.erinventures.com or the Company's filed
documents at www.sedar.com.
Temas may earn a 50% interest in Piskanja by (a) issuing to Erin 250,000 common shares (completed) and 250,000
warrants (completed) (48 months, at an exercise price equal to t he market price less the maximum allowable
discount pursuant to stock exchange policies), and (b) incurring an aggregate of €10,500,000 in expenditures on
Piskanja. The Agreement may be terminated in certain circumstances, including by Erin if certain mile stones are
not met in accordance with specified timelines. Upon exercise of the option by Temas, a joint venture will be formed
and Erin and Temas will become associated as joint venturers to further advance Piskanja.
For further information, please contact: Erin’s Public Quotations
Erin Ventures Inc. Canada USA
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Blake Fallis, General Manager TSX Venture: EV SEC12G3-2(B)#82-4432
Phone: 1-250- 384-1999 or 1-888-289-3746 OTCPink: ERVFF
[email protected] Europe
www.erinventures.com Berlin: 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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward -looking information (collectively, “forward -
looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements,
other than statements of historica l fact, included herein including, without limitation, the results of the PEA,
including the projected Capex, the estimated after-tax NPV and IRR, the estimated LOM and estimated concentrate
grades, the potential production from and viability of Piskanja, the risks and opportunities outlined in the PEA, the
potential tonnage, grades and content of deposits, the extent of mineral resource estimates, anticipated exploration
program results from exploration activities, the discovery and delineation o f mineral deposits/resources/reserves
and the anticipated business plans and timing of future activities of the Company are forward -looking statements.
Although the Company believes that such statements are reasonable, it can give no assurance that such expectations
will prove to be correct. Forward -looking statements are typically identified by words such as: “believes”,
“expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”,
“scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking
statements in this news release, the Company has applied several material assumptions, including without limitation,
that the Company will receive all necessary approvals required to develop Piskanja as outlined in the PEA, that the
assumptions in the PEA are reasonably accurate, market fundamentals will res ult in sustained boron demand and
prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future
development of Piskanja in a timely manner, the availability of financing on suitable terms for the development,
construction and continued operation of the Company’s projects and its ability to comply with environmental, health
and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
the actual re sults, performance or achievements of the Company to differ materially from any future results,
performance or achievements expressed or implied by the forward-looking information. Such risks and other factors
include, among others, requirements for additi onal capital, operating and technical difficulties in connection with
mineral exploration and development activities, actual results of exploration activities, including on the Piskanja
project, the estimation or realization of mineral reserves and mineral resources, and there is no guarantee that such
interests, will be certain, the timing and amount of estimated future production, the costs of production, capital
expenditures, the costs and timing of the development of new deposits, requirements for addit ional capital, future
prices of boron, changes in general economic conditions, changes in the financial markets and in the demand and
market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other
risks of the mining industry, delays in obtaining governmental approvals (including of the TSX Venture Exchange),
permits or financing or in the completion of development or construction activities, risks relating to epidemics or
pandemics such as COVID–19, including the impact of COVID–19 on the Company’s business, financial condition
and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the
inability of the Company to obtain any necessary permits, conse nts, approvals or authorizations, the timing and
possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture
operations, and other risks and uncertainties disclosed in the company’s continuous disclo sure documents. All of
the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials.
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Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake
any obligation to update any of the forward -looking statements in this news release or incorporated by reference
herein, except as otherwise required by law.
Cautionary Note to United States Investors
Erin Ventures Inc. prepares its disclosure in accordance with the requirements of securities laws in effect in Canada,
which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this news release
are defined in accordance with NI 43 -101 under the guidelines set out in CIM Definition Standards on Mineral
Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council
on May 19, 2014, as amended (“CIM Standards”). The U.S. Securities and Exchange Commission (the “SEC”) has
adopted amendments effective February 25, 2019 (the “SEC Modernization Rules”) to its disclosure rules to
modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC
under the U.S. Securities Exchange Act of 1934.
As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of “measured
mineral resources”, “indicated mineral resources” and “inferred mineral resources”, which are defined in
substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions
of “proven mineral reserves” and “probable mineral reserves” to be substantially similar to the corresponding CIM
Standards.
U.S. investors are cautioned that while the foregoing terms are “substantially similar” to corresponding definitions
under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM
Standards. Accordingly, there is no assurance any mineral resou rces that Erin Ventures may report as “measured
mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the
same had Erin Ventures Inc. prepared the resource estimates under the standards adopted under th e SEC
Modernization Rules.
In accordance with Canadian securities laws, estimates of “inferred mineral resources” cannot form the basis of
feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.