| | | El Niño Options the Bancroft Uranium Properties | 
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Nov. 2, 2006
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November
2, 2006, Vancouver, BC -- El Niņo Ventures Inc. ("El Niņo") (TSX.V:
ELN; OTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce
it has optioned its Bancroft Uranium properties to Boulder Creek
Explorations Inc. ("Boulder") a company incorporated under the laws
of Nevada. |
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This
agreement will finance the Bancroft properties through
the next stages of exploration.
Under the terms of this agreement, El Niņo will
receive 275,000 shares of Boulder, and cash payments
totaling CDN $125,000 within the next 10 --14 days.
Boulder can earn in a 60 percent interest by
committing CDN $1,000,000 over the next two years and
could earn up to 80 percent of the project by issuing a
further 300,000 shares and spending an additional CDN
$1,500,000.
El
Niņo will remain the operator for the first two years
of this agreement and will receive a management fee of
10 percent of Exploration Expenditures and cash payments
of CDN $40,000 a year for the second year and CDN
$20,000 per year thereafter. |
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Mr.
Jean Luc Roy, President of El Nino states: "This agreement is very
favorable to our shareholders as it completes two objectives; the project
will be funded by Boulder and it will allow sufficient exploration funding
to further investigate the project's potential."
About
El Niņo Ventures Inc.
El
Niņo is an exploration stage company whose corporate objective is to
revisit former mining regions and apply the latest technologies to
advanced stage exploration targets. El Niņo Ventures has entered into an
Option / Joint Venture Agreement with Xstrata Zinc Canada to explore the
world class Bathurst Zinc / Base Metals Mining Camp in New Brunswick,
Canada. Currently the Bathurst project has a CDN$5 million budget of which
23,000 metres of drilling has commenced.
In addition to the Bathurst Mining Camp, El Nino Ventures continues
to focus on advanced stage properties throughout Canada, Alaska and
Europe.
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| On
Behalf of the Board of Directors, |
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| "Jean Luc Roy" |
| Jean
Luc Roy |
| President
& COO |
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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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| | You can view the Next News Releases item: Thu Dec 7, 2006, El Niño Releases Results from Mount Fronsac North Infill Drilling Program
You can view the Previous News Releases item: Mon Oct 30, 2006, El Niño Intersects Zn & Pb in First Drill Results at Bathurst
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