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El Niño Closes Non-Brokered Private Placement for Total Proceeds of $806,750
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ELN News Oct 12 2010

October 12 2010, Vancouver, Canada. -- El Niņo Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) wishes to announce that further to its news releases dated September 7 and September 16 the Company has now completed its non-brokered private placement and accordingly has issued 16,135,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of $806,750. Each Unit consists of one common share and one non-transferable share purchase warrant. Each share purchase warrant will now entitle the holder to purchase one common share of the Company over a period of three years at a price of $0.10 per share. In connection with the closing of the financing, the Company has paid $13,125.00 in finder's fees. All of the securities issued pursuant to this private placement are subject to a hold period that expires on February 6, 2011.

The proceeds of this private placement will be used to acquire new projects and general working capital.

About El Niņo Ventures Inc.

El Niņo Ventures is an exploration company, focused on exploring for Copper/Cobalt in the Democratic Republic of Congo ("DRC"). In addition the Company had entered into an Option agreement with Votorantim and Xstrata Zinc whereby Votorantim, by incurring exploration expenditures of $10 million over a period of 5 years. Votorantim may further elect to increase its interest to 70% by spending another $10 million over an additional two years. The Votorantim option is on an extensive land package in the Bathurst Mining Camp that ELN currently shares 50/50 with Xstrata Zinc Canada.
El Niņo Ventures has grown its asset base substantially over the last year. Our discovery on what is now known as the Kasala Project gives the Company a bona fide development project going forward. The results on this project are very consistent and have a true thickness that bears the foundation of a world class project over time.

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.

 
 

You can view the Next News Releases item: Wed Nov 24, 2010, El Nino Re-files Interim Financial Statements and MD&A

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