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Hearing Update Regarding Claims Against George Kavvadias and GCP Group
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ELN News Jan 5 2011

January 5, 2011 - Vancouver, Canada -- El Nino Ventures Inc. (the "Company") reports that it has now received notice from the Supreme Court of British Columbia of the hearing held on November 25, 2010 regarding its Notice of Dispute and Petition against George Kavvadias and GCP Group. (See News Release dated October 1, 2010)

The Company's intent in bringing these matters before the Supreme Court was to obtain a ruling that determined the process for settling the issues should be through arbitration. The Company has been successful in achieving this as the Supreme Court, in dismissing the Petitiion, has in fact ruled that the arbitrator not the court has jurisdiction to decide the issue. In doing so, the presiding judge stated that he was applying the general rule that an issue in any case involving an arbitration clause must be resolved first by the arbitrator. As well, the court has also ruled that it is not necessary for the Company to pay money into court or deliver share certificates into the custody of the court as the money and shares are as secure while being held in trust by counsel as they would be in the custody of the court.

Subsequently, counsel for the Parties will now select an Arbitrator and then set a date for hearing the arbitration. Barring any delays by GCP Group, the Company expects to go to arbitration sometime during February, 2011. At which point, El Nino is well prepared to successfully present its arguments in support of its claims in arbitration.

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: Thu Jan 20, 2011, El Niño Provides Notice to Votorantim to Enter Into an Option on the Murray Brook Deposit, Bathurst Mining Camp, New Brunswick

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