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El Niño Acquires First Copper Project in the Democratic Republic of Congo (DRC)
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  • El Niņo has acquired an initial 70 percent interest, over 350 Square kilometers
  • Located in the world renowned  DRC Copperbelt
  • El Niņo's first project is adjacent to Anvil Mining (AVM:TSX), Tiger Resources (TGX:ASX), BHP Billiton and First Quantum Minerals (FQM:TSX)
  • El Niņo's President and management have extensive experience in the DRC
  • Exploration program in progress
  • El Niņo is aggressively acquiring base metal projects throughout the DRC
  • El Niņo is the Project Operator
  • El Niņo's market cap is approx. $11 million, working capital $3.2 million

May 29 2007, Vancouver, BC -- El Niņo Ventures Inc. ("El Niņo") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce that it has acquired a 70 percent interest in a Joint Venture Agreement with GCP Group Ltd, a private Congolese company. El Niņo holds it's initial 70  percent interest in Research Permits # 5214, 5215, 5216 and 5217. These permits were granted by the Cadastre Miner of the DRC and covering 352 square kilometers in one of the most prospective exploration areas in the DRC-Zambian Copperbelt. The permits are located between Lubumbashi and Likasi and offer easy access for exploration which offers excellent infrastructure.

Harry Barr, Chairman of El Niņo stated: The acquisition of our first base metals project in the DRC allows our company to fulfill our mandate of exploring and developing base metal projects on an international scale. Our objective, simply stated, is to control one of the leading base metal and mineral exploration portfolios in the DRC.

On May 10th, 2006 Jean-Luc Roy was appointed   President of El Niņo and brought his extensive expertise in exploration and development in Africa to our company. Mr. Roy spent 19 years of his professional career working and living in Africa. In Africa Mr. Roy worked for Ashanti Gold and International Gold Resources. Before joining El Niņo, Mr. Roy played an integral part in the development of First Quantum Minerals (FQM) in the DRC as Managing Director for five years. While in Africa Mr. Roy spearheaded teams that managed multi-million yearly exploration budgets, helped place three mines in production and was responsible for acquiring valuable land positions for various companies. Mr. Roy has negotiated agreements successfully at all levels of government in Africa.

About the DRC

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world. In late 2006 the DRC had it's first free election in 48 years and previous to that it established a new mining code in 2003. These events have created a renewed confidence for investors in the DRC. Major mining companies such as Phelps Dodge and First Quantum Minerals are now in construction on world class ore bodies. Several junior companies are now actively exploring for copper and other minerals in the DRC. Most known deposits in the DRC were found in the last 1940's and 50's. From 2000 several new deposits were found by companies like Anvil Mining and First Quantum Minerals. The potential for finding new world class ore bodies is considered excellent by the international mining community.

Our projects are in the same geological belt as properties that have yielded deposits and excellent copper values for companies like Anvil Mining Limited and Tiger Resources Limited. These projects are adjacent to land holdings held by major companies like BHP Billiton and Gecamines.
 
Jean Luc Roy, the President of El Niņo states: This significant new acquisition is the first step in our objective of controlling one of the leading base metal portfolio's in the DRC. I am confident from my years of working in the DRC that this new direction for El Nino will further accomplish our growth strategy which is to develop our existing projects and continue an aggressive acquisition program to acquire new projects and place them into production.

I was very fortunate to be part of one of the most successful companies in the DRC. The establishment of the new mining code in the DRC, and it's first free election in late 2006, will allow El Nino's experienced management team to accomplish it's DRC objectives and be one of the most aggressive new exploration development company in this region.

DRC Joint Venture Terms

Under the terms of the Agreement El Niņo purchased a 70 percent interest in the Joint Venture with an option to acquire up to 90 percent of the project by coming to an agreement with our partners, over time. An initial cash payment of $250,000 USD will be made when all regulatory approvals have been received and upon titles of the properties being transferred to the new SPRL Congolese Company that is now being formed. Additional cash payments totaling $300,000 USD will be made in three annual installments. 300,000 shares of El Niņo will initially be issued to GCP Group upon regulatory approval and 400,000 additional shares will be issued over a three year period to the GCP Group. El Niņo will fund all exploration work but will retain the services of the CGP Group in an agreement to be negotiated at a later date to support administrative and logistical aspects of the project.  This acquisition is subject to regulatory approval. 

About El Niņo Ventures Inc.

El Nino's growth strategy is to develop our existing projects and continue an aggressive acquisition program to acquire new projects and place them into production.

Our first new base metal acquisition in the DRC compliments our aggressive zinc exploration plan for the Bathurst Mining Camp with our partner Xstrata Zinc. In June 2007, our company begins a fully funded $4.5 million dollar exploration program which includes a 25,000 meter drill program which will use a minimum of three drill rigs drilling 24 hours a day for up to nine months.

EL Nino is also the owner and operator of the Bancroft Uranium projects. El Nino has optioned it's projects to Canam Uranium, and is being funded by them, and is currently completing it's first round of drilling on up to eight uranium projects in an ex-producing Uranium camp.  The drill results on the first phase are forthcoming.

El Nino is currently in its most aggressive acquisition phase of the company's history. El Nino has approximately $3.2 million in working capital.

On Behalf of the Board of Directors,

"Jean Luc Roy"
Jean Luc Roy
President & COO

Further information:

Toll Free 1.800.667.1870 or 604.685.1870
Email:
Fax 604.685.8045, or visit www.elninoventures.com

2303 West 41st Avenue, Vancouver, BC Canada V6M 2A3

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: Mon Jun 11, 2007, El Niño Ventures starts Operations in the (DRC) Congo and the Government of New Brunswick approves 2.5 million dollar Grant for Bathurst New Brunswick

You can view the Previous News Releases item: Wed May 2, 2007, El Niño & CanAm - First to Revisit Bancroft Uranium District after 30 Years and Intercept up to 0.31 % (6.2 lbs/Ton) Uranium

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