| | | El Nino Reports on Uranium Exploration Program, Bancroft Uranium Properties, Bancroft, Ontario | 
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ELN News Feb 16, 2006
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| February
16, 2006, Vancouver, BC -- El Nino Ventures Inc.
(TSX.V: ELN) has completed its initial two-phase
exploration program on its uranium properties in the
Bancroft region of Ontario, and is pleased to announce
that the Company has received the report from consulting
geologist, T.J. Beesley, P.Eng., on the second phase of
exploration, on six of the properties. The
Bancroft Uranium Project is comprised of eight
properties which cover approximately 9,765 acres, and
under the terms of two separate option agreements, El
Nino may earn up to 100% interest. |
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| 2005
Exploration - Phase 1 |
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| During
the first phase of exploration, carried out in May 2005,
each of the eight properties were examined and sampled.
More detailed exploration was concentrated on the two
properties with the largest historically estimated
tonnages and grade of uranium mineralization, the
Halo Northwest and Lake Zones in Cardiff Township
(472,000 tons grading 0.112% U3O8
-- not 43-101 compliant, as described in news release
of April 12, 2005) and the No. 2 Shaft area of
the Amalgamated |
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| El
Nino Ventures -- Activity Highlights |
| Global
Acquisition Program |
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An aggressive, global acquisition program for new
projects is underway |
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Bancroft
Uranium Project |
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Canadian
All Metals: |
<0.01
-- 3.02% |
| McLean-Hogan: |
<0.01
-- 0.31% |
| Silver
Crater Showing #2: |
0.02
-- 0.69% |
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Seeking
Joint Venture Partners to Assist in Development of
Bancroft Uranium Project |
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| Rare
Earth Property in Monmouth Township (295,444 tons grading 0.095% U3O8
-- not 43-101 compliant, as described in news release of April 12,
2005). These two properties were tested with backhoe outcrop
stripping and overburden trenching, scintillometer surveying and chip
and grab sampling of outcrop and dump material for assaying for uranium
and thorium content. The average uranium grades established during
this program lie within historical ranges. |
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| 2005
Exploration -- Phase 2 |
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second exploration phase was completed in late 2005, during which the
remaining six properties were each examined radiometrically. Grids
were established over the extent of the anomalous radioactivity, with 50
metre lines and 12.5 metre stations, and were then surveyed by
scintillometer. Previous workings and high radioactive anomalies
were tied in and chip and grab samples taken for assaying for uranium
and thorium content. Based on the results (see Summary Chart
below), the Company plans further work on three of the properties.
A 3.02% U3O8 result (apparently one of the
highest U3O8 results recorded in this camp) was
returned from an outcrop of limonitic coarse phlogopite-pyroxene
pegmatite on the Canadian All Metals Property in Monmouth Township.
Results of 0.22% U3O8 were also returned.
On the Silver Crater #2 Showing in Faraday Township, anomalous
radioactivity extends over an area 300 x 150 metres. Highly
anomalous radioactivity occurs within a 75 x 30 metre zone in the centre
of the grid and is open to the west under overburden. Results
from five samples from throughout this zone range from 0.37% to 0.69% U3O8
and average 0.53% U3O8, in coarse-grained dark
pink to red augite syenite pegmatite. An assay of 0.31% U3O8
was obtained from coarse biotite-green pyroxene skarn on the
McLean-Hogan Property grid in Cardiff Township. |
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| Phase
2 Summary Table |
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| 2006
Exploration |
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| Based
on the Phase 1 results, a follow up deep diamond drilling program
totaling 1,800 metres, consisting of two opposing holes on each of the Halo
and Amalgamated Rare Earth Properties has been recommended for
late 2006 to test the potential for uranium mineralization beneath the
present workings. This has been budgeted at $150,000. |
| Based
on the Phase 2 results, it has been recommended that trenches from the Canadian
All Metals, Silver Crater (#2 Showing), and McLean-Hogan Properties
be cleaned out with a backhoe to guide geological mapping,
scintillometer surveying and diamond saw sampling for assay. The
high grade areas should be tested by vertical percussion drill holes on
a 25-metre square grid, with sampling of radioactive cuttings, and
drilling of approximately 90 15-metre holes. The above program is
budgeted at $150,000. |
| Contingent
on the results from these programs, a diamond drilling program totaling
3,000 metres, including trenching and sampling, is recommended.
This program will have an all-inclusive budget of $300,000. |
| The
Qualified Person for this Release is Consulting Geologist, T.J. Beesley,
P.Eng. |
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| About
Bancroft Uranium |
| The
Bancroft region of Ontario is renowned for its mineral resources and its
history of uranium production, having supported four producing uranium
mines for periods between 1956 and 1982. El Nino's objective is
to use technological advances to further explore and delineate
mineralization in this past producing region. |
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| About
El Nino Ventures Inc. |
| El
Nino is an exploration stage company currently developing an aggressive
global acquisition strategy, particularly in Eastern Europe. The
Company is also focusing on developing its Bancroft Uranium Project and
is actively seeking joint venture partners on to assist the company in
developing its Bancroft projects. |
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| On
behalf of the board of directors |
|
| "Harry
Barr" |
| Harry
Barr, President |
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| The
TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release |
| CUSIP#
28335E-10-6 |
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This
news release contains 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 the British Columbia
Securities Commission and the United States Securities & Exchange
Commission. This email should not be construed as an offer to buy or
sell securities of this company.
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