Chairman's Message

ELN Chairman's Message Fall/Winter 2020

November 2020

Dear Shareholders:

On behalf of the Board of Directors, I am pleased to update you on the Business Plan for El Niņo Ventures, its progress to date, in 2020, and our Goals and Objectives for the balance of this year and beyond.

El Niņo Ventures Inc. is an Exploration Company, who for the last 9 years has focused on Exploration for Zinc, Lead, Copper and Silver, and gold on the East Coast of Canada. The Board of Directors has recently agreed to Management's request to look at diversifying the Company into other areas within the resource sector.

Harry Barr
Chairman & CEO


Option-Sale Agreement with Puma Exploration

In 2016, The Company decided to sell, by way of option, the Company's Minority Interest, in our Joint Venture, with Votorantim Metals Canada Inc., more specifically our interest in the Murray Brook Polymetallic Project to Puma Exploration.

By mutual agreement on July 31, 2020 El Niņo Ventures Inc. and Puma Exploration Inc. ("Puma") agreed to terminate the asset purchase agreement. Over the term of the asset purchase agreement, ELN received approximately C$2.1M, 1.1 million shares of Puma and 500,000 Puma warrants.

ELN also received the value of approximately C$2.4M worth of exploration expenditures spent by Puma during the term of the asset purchase agreement on the project, and all of its 32.1% interest in the Murray Brook Project was returned to ELN.

As part of the termination of the asset purchase agreement with Puma, a 0.67% NSR royalty that Puma's subsidiary, Murray Brook Minerals owned, was transferred to ELN.


The Junior Exploration sector suffered considerably during previous years, and appears to have reached its bottom. Metal prices have increased considerably in 2020, resulting in a resurgence within the industry and new capital being deployed into both exploration and development.

Management is currently reviewing mineral projects and are focused on acquiring North American gold projects. ELN management and directors continue to work diligently on acquiring financing for the Company and our projects. Our November 2020 cash balance is approximately C$740,000 (with no debt), other assets include the previously mentioned 0.67% NSR Royalty on the Murray Brook Project and 762,000 Puma Exploration shares plus 500,000 Puma Warrants, exercisable at C$0.25 until December 2022. The Company in cooperation with our partner Votorantim Canada continues to hold its minority interest in the Murray Brook Polymetallic Project (predominantly zinc) but is currently marketing its share of the project to third parties with the objective of a sale and using the proceeds to acquire additional mineral projects in North America.

Zinc prices have increased considerably from its April 2020 lows in the mid-80 cent USD/lb range to the November 18, 2020 price of USD$1.24/lb

We look forward to continuing to provide you with updates on our go-forward plan for the balance of our activities in 2020 and beyond. On behalf of the Board of Directors, we thank you for your ongoing support.

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On behalf of the Board of Directors,

Yours sincerely,

"Harry Barr'"

Harry Barr
Chairman & CEO


Aug 2013