Erin Ventures Announces the Completion of a Geological Elaborate for its Piskanja Boron Project
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ERIN VENTURES INC.
NEWS RELEASE – for immediate release
Erin Ventures Announces the Completion of a Geological Elaborate
for its Piskanja Boron Project
December 5, 2022
Victoria, BC /Accesswire/
Erin Ventures Inc. [TSXV: EV] (“Erin” or the “Company”), an international mineral exploration and
development company, is pleased to report that it has completed a Geological Elaborate for its Piskanja Boron
Project in Serbia , which is the first of two technical reports required in order to be granted a mineral
exploitation license.
Tim Daniels, President of Erin added, “ Now that we have completed the Elaborate, efforts are underway
towards completion of a compliant feasibility study over the coming months, which is the final step required to
receive a mining license”.
A Serbian compliant Geological Elaborate is a technical study which is of similar scope, content, and
confidence level as a CIM compliant PEA. The purpose of an Elaborate is to demonstrate a mineral resource of
sufficient quality, quantity and confidence level to establish a reasonable likelihood of economic exploitation.
An Elaborate is subject to review and vetting by a government chosen, independent committee of local mining
experts. Upon the approval of an Elaborate, the Serbian Mining Ministry issues a “Certificate of Reserves” for
the mineral deposit, as the first milestone towards an exploitation license. Erin’s Piskanja Geological Elaborate
repurposes data and analysis from its PEA, which was published on June 24th of this year.
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 Assessment 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 Standards on Mineral Resources a nd 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, 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 Serv ices 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 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, e nvironmental 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 t he
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 regulatory 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 cautione d not to assume that all or any part of an inferred mineral
resource is economically or legally mineable.