El Nino Ventures Inc. Grants Options
TSX.V: ELN OTC Pink: ELNOF FRANKFURT: E7QN
El Nino Ventures Inc. Grants Options
March 19, 2014, Vancouver, BC; El Nino Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; OTC Pink: ELNOF; Frankfurt: E7Q) announced that it has granted incentive stock options to directors, officers, consultants and employees to purchase 3,000,000 common shares at $0.07 per share, exercisable for a period of five years in accordance with the company’s stock option plan. The options are subject to acceptance for filing by the TSX Venture Exchange.
About El Nino Ventures Inc.
El Nino Ventures Inc. (ELN) is an international base metals exploration company currently focused on exploration and development projects in New Brunswick, Canada and in the Democratic Republic of Congo (DRC), Africa.
In New Brunswick, ELN's project portfolio consists of the Murray Brook Project and the Bathurst Option Joint Venture Project, as summarized below.
Murray Brook
The Murray Brook Project is the largest NI43‐101 compliant mineral resources in the Bathurst Mining Camp. Murray Brook is a joint venture project owned 35% by ELN and 65% by Votorantim Metals Canada (VMC), the Canadian subsidiary of Votorantim (2nd largest mineral resource company in Brazil, with business interests in more than 20 countries). VMC is the Project Operator.
To date, ELN has invested a total of $2.75 million in exploration expenditures since 2010. In 2011, ELN and VMC spent $2.1 million on exploration and completed 10,000 metres of drilling. Drill results formed the basis of the first NI43‐101 compliant mineral resource estimation for the Murray Brook deposit, which was announced on February 28, 2012. The exploration and development program for 2012 consisted of an additional 18,500 meters of drilling on the Murray Brook deposit, metallurgical studies of drill core material from the deposit, and exploration on the adjacent Camel Back property, which is included in the Murray Brook Joint Venture.
VMC and ELN released a positive Preliminary Economic Assessment (PEA or Scoping Study) in June 2013. The PEA was prepared by P&E Mining Consultants Inc., a leading independent consulting firm based in Brampton, Ontario. The results demonstrate the potential technical and economic viability of establishing a new open pit mine and mill complex on the Murray Brook property.
About Bathurst Option Joint Venture Project
The BOJV Project is a Tri‐Party Agreement with Xstrata Canada Corporation (now Glencore Canada Corporation) and Votorantim Metals Canada Inc. covering much of the area of the Bathurst Mining Camp in northeastern New Brunswick (Figure 1). The project commenced in July 2009. Votorantim Metals Canada Inc. can earn 50% by spending $10 million over 5 years and can further increase its interest to 70% by spending an additional $10 million over 2 more years. Exploration expenditures to date by Votorantim Metals Canada Inc. total about $6.8 million.
BOJV project originally consisted of 4712 claims owned 50% ELN and 50% Glencore Canada Corporation and 2907 claims owned 100% by Glencore Canada Corporation, together with an Area of Interest in which ELN and Glencore Canada Corporation hold equal interest. Due to the Area of Interest, the BOJV generates new projects for ELN at no initial cost. An example of such project generation for ELN is the Murray Brook Project.
Votorantim Metals Canada Inc. Statement
Technical details in this news release were provided by Votorantim Metals Canada Inc. whose professional geologists conduct operations consistent with mineral industry best practices. Votorantim Metals Canada Inc. accepts no responsibility for this news release or any inferences made from the technical details provided herein.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais, a company that is part of the Votorantim Group and was founded in Brazil in 1918. The Votorantim Group operates in twenty countries and has over 40,000 employees. Votorantim Metais is the largest electrolytic nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminum and nickel. Votorantim Metals Canada Inc. is operator of the Bathurst Option and Joint Venture, which, in conjunction with Glencore Canada Corporation and El Nino Ventures, is actively exploring for base metal deposits within the Bathurst Mining Camp.
Kasala
ELN's project in Africa is its 70% interest in the Kasala property, which is a new copper discovery located in the Democratic Republic of Congo (DRC), Africa.
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr Chairman & CEO El Nino Ventures Inc.
Neither the TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Disclaimer: This news release may contain certain "Forward‐Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward‐looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with TSX Venture Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.