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January 29, 2007, Vancouver, BC -- El Niņo
Ventures Inc. ("El Niņo") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q)
announces a non-brokered private placement of up to 750,000 units at a
purchase price of $0.40 per unit for gross proceeds of up to $300,000.
Each unit will consist of one common share
and one-half of one non-transferable share purchase warrant. Each
whole warrant entitles the holder to purchase an additional common share
at a price of $0.55 for a period of 12 months from closing.
A finder's fee of up to 8% may be paid in
cash or shares and 8% may be paid in warrants.
The proceeds of the private placement will
be used to satisfy the Company's exploration commitment for the Bathurst
Zinc / Base Metals Mining Camp in New Brunswick.
The foregoing is subject to regulatory
approval.
About El Niņo Ventures
El Niņo is an exploration stage company in
the midst of a 23,500 meter drill program on the Bathurst Zinc/Base Metals
Mining Camp. This is the first part of a 50,000 meter drill program that
began in Oct 2006 and will continue on until March 2008. This financing
will fortify that El Niņo's commitment of $5 million will be met, as
stipulated in the Option/Joint Venture Agreement signed with Xstrata Zinc
Canada in May 2006. Additional proceeds of this financing will be applied
to the further acquisition of projects outside of Canada, and solidify El
Niņo position as an aggressive international mineral exploration
company.
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