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El Nino Ventures Re-files Interim Financial Statements and MD&A
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ELN News Sep 29 2010

September 29, 2010 Vancouver, Canada -- El Niņo Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) announces that it has re-filed its interim financial statements and management discussion and analysis ("MD&A") for the interim period ended July 31, 2009. In addition, the Company is currently in the process of re-filing its interim financial statements and MD&A for the interim period ended October 31, 2009. The following is a summary of the material revisions to the Company's amended and restated financial statements and MD&A.

The Company became aware that further unauthorized exploration/mining activities were being conducted on the Infinity Project by the Country Manager. The unauthorized activities being carried out by the Country Manager and the inability of the Company to assert control over its investment Infinity Resources SPRL ("Infinity") and Harmony Resources SPRL ("Harmony") and its local management caused the Company to conclude that it did not exercise control or significant influence over its investments in Infinity and Harmony during the year ended January 31, 2010. As a result, the Company determined that it should have derecognized the assets and liabilities of Infinity and Harmony effective February 1, 2009. Based on the foregoing, the Company concluded that the previously filed consolidated financial statements and MD&A for the periods ended April 30, 2009, July 31, 2009 and October 31, 2009, which were filed with SEDAR on June 29, 2009, September 29, 2009 and December 29, 2009, respectively, should no longer be relied upon. Accordingly, the Company's consolidated interim financial statements and MD&A for the six months ended July 31, 2009 filed on SEDAR on September 29, 2009 have been restated using the cost method rather than on a consolidated basis, the details of which are disclosed in the amended and restated financial statements. In addition, the Company is in the process of amending and restating the interim financial statements and MD&A for the interim period ended October 31, 2009 to reflect the above facts.

About El Niņo Ventures Inc.

El Niņo Ventures Inc. is a mineral exploration company, focused on copper/cobalt exploration in the DRC. The Company holds a 50% interest in an extensive base metal project located within the Bathurst mining camp in Ontario, Canada. El Niņo finalized its option agreement in April 2010 with Votorantim Metals Canada Inc. and Xstrata Zinc whereby Votorantim may earn a 50% interest in El Niņo's landholdings by expending $10 million over 5 years and may further increase its interest in El Niņo's and Xstrata Zinc's landholdings to 70% by expending an additional $10 million over a further two years.

On Behalf of the Board of Directors,

"Harry Barr"

Harry Barr, Chairman and CEO



TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Note:  this release contains forward-looking statements that involve risks and uncertainties.  These statements may differ materially from actual future events or results and are based on current expectations or beliefs.  For this purpose, statements of historical fact may be deemed to be forward-looking statements.  In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions.  These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.  The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.  Investors should not place undue reliance on forward-looking statements.

 
 

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