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El Nino Re-files Interim Financial Statements and MD&A
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ELN News Nov 24 2010

November 24, 2010, Vancouver, Canada -- El Nino 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 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 1 February 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 was 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 three months ended October 31, 2009 filed on SEDAR on December 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.

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.

 
 

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