El Nino Ventures and Puma Exploration Extend Murry Brook Agreement 30 Days
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El Nino Ventures and Puma Exploration Extend Murry Brook
Agreement 30 Days
June 30, 2020 Rockport, ON, Canada – El Nino Ventures Inc. (TSXV: ELN; OTCQB: ELNOF;
FSE: E7Q.F). and Puma Exploration Inc., PUMA-TSXV, (“Puma”) and have mutually agreed on a 30
days extension period in regards of the amended and restated asset purchase agreement signed on Oct. 5,
2016, as amended thereafter. Pursuant to the last amendment signed by El Nino and Puma, Puma had
until June 30, 2020, to proceed with the final $1-million cash consideration. The 30 days extension
granted will be used to review different potential methods to deal with the acquisition of the Project and
its future development that would be beneficial for both companies. Further announcements will be
forthcoming.
About El Nino Ventures
El Nino Ventures Inc. (ELN) has in the past years been a base metals exploration company with its focus
being on the Murry Brook Project in the Bathurst region of New Brunswick, Canada. ELN signed an
option to purchase agreement regarding the sale of its interest on this project (news release: October 13,
2016) with Puma Exploration (Puma) for $3.1 million. A final payment of $1.0 million is due June 30,
2020. In the event Puma does not satisfy the conditions of the sale agreement, then ELN shall retain its
32.1% interest in the Murry Brook Project as well as receiving the geological information, reports,
metallurgical tests and the surface copper zone drill sampling which to date represents about $2.4 million
in exploration work completed on the Murray Brook Project since ELN entered into the original sale
agreement with Puma. Additionally, in the event that Puma does not proceed with the final $1.0M
payment before July 31, 2020, a 0.67% royalty (NSR) on the Murray Brook Project will be granted to
ELN under the same terms as the existing royalty in the Purchase Agreement or, at the option of Puma
and subject to prior approval of the TSX Venture Exchange, Puma will issue to ELN 1.5 million shares of
Puma. The Company continues to investigate new acquisitions for ELN, and plans to use the Prospector
Generator model which reduces risk, share dilution and increases discovery potential.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
Neither the TSX Venture Exchange nor its Regula tion 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 release contains forward-looking
statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current
expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward -looking statements. In addition, forward-looking
statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate ”, “confident”, “intend”,
“strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve
risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability
and continuation of efforts to timely and completely make available adequate current public information, additional or differ ent regulatory and legal
requirements and restrictions that may be imposed, and other factors as may be discussed in the documen ts filed by the Company on SEDAR
(www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to di ffer from those contained in
the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release
publicly any revisions to any forward -looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events. Investors should not place undue reliance on forward-looking statements.