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First Tranche - Non-Brokered Private Placement $3,396,200 Completed
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ELN News July 17 2006

July 17, 2006, Vancouver, BC -- El Nino Ventures Inc. (the "Company") is pleased to announce that further to its news release of May 26, 2006 the Company has closed the first tranche of its private placement and has issued a total of 4,245,250 flow through and non-flow-through units at $0.80 per unit for a total proceeds of $3,396,200.

Each non-flow-through unit and flow-through unit consists of one common share and one-half of one share purchase warrant with each whole warrant entitling the holder to purchase one additional common share of the Company at a purchase price of $1.00 per common share until July 14, 2007.  

In connection with the closing of the first tranche of this financing, the Company has paid a finder's fee of an aggregate of $173,172 and issued an aggregate of 240,415 share purchase warrants and 25,000 shares.  Each warrant entitles the holder to purchase one common share at a purchase price of $1.00 per common share until July 14, 2007.

In compliance with Canadian securities laws, all of the securities issued in connection with this closing are subject to a hold period expiring on November 15, 2006.

The Company will continue to finalize the balance of its private placement, on the same terms as announced May 26, 2006, and anticipates that it will close the second tranche of the private placement by the end of July 2006.

The proceeds of the private placement will be used to satisfy all of the Company's year one exploration commitment ($2,500,000) for exploration with Falconbridge Ltd. on the world class Bathurst Zinc / Base Metals Mining Camp in New Brunswick. Exploration will begin immediately on the Bathurst Project. For further information see our press release dated May 26, 2006.  The foregoing is subject to regulatory approval.

About El Nino Ventures Inc.

El Nino is an exploration stage company currently developing an aggressive global acquisition strategy.  Our business model is to revisit former mining regions, apply new technologies to advanced stage exploration targets, and aggressively acquire new projects.  Our present focus is on Canada, Alaska, and Eastern / Central Europe.  In Canada, El Nino has an Option / Joint Venture with Falconbridge Ltd. to explore the world class Bathurst Zinc / Base Metals Mining Camp in New Brunswick.  The Company is also exploring for uranium in the Bancroft uranium camp in Ontario.  El Nino is currently negotiating on new projects in Alaska, and Eastern/Central Europe. 

On Behalf of the Board Of Directors,

"Jean Luc Roy"

Jean Luc Roy
President & COO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
CUSIP# 28335E-10-6

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.

 
 

You can view the Next News Releases item: Wed Jul 19, 2006, Exploration Activities Commence on El Nino - Falconbridge - Bathurst Zinc Project, Bathurst Zinc Mining Camp, New Brunswick

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