Chairman's Message

ELN Chairman's Message Fall 2020

Fall 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 (+500,000 warrants), and a 0.67% NSR Royalty Interest in the entire Murray Brook Project.

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.

ELN had an existing NSR Royalty Interest in the project which is a laddered Net Smelter Return on Production (NSR), starting at 0.25%, at a Zinc price of US$1.04/lb. and increasing, in increments of 0.25%, to a maximum of 1.75% above US$1.50/lb. Zn, in relation to 32.1% of the production from the Murray Brook Property, which includes the Mining Lease and the Camel Back Claims, for the life of the Murray Brook Deposit and any new discovery made on the total project. As of August 6, 2020, the price of zinc was US$1.08 per pound.


The Junior Exploration sector suffered considerably during previous years, appears to have reached its bottom. Metal prices have increased considerably, resulting in a resurgence within the industry.

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 August 2020 cash balance is approximately C$650,000 (with no debt), other assets include the two previously mentioned NSR Royalties and 1.1M Puma Exploration shares plus 500,000 Puma Warrants, exercisable at C$0.25 until December 2022. 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