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El Nino Ventures Announces Proposed Share Consolidation
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ELN News AUG 16 2011

August 16, 2011, Vancouver, Canada -- El Niņo Ventures Inc. ("ELN" and the "Company") (TSXV: ELN; Frankfurt: E7Q) announces that it is proposing a consolidation (the "Share Consolidation") of its issued and outstanding common shares (the "Common Shares") on the basis of up to a maximum of five (5) old common shares of the Company for one (1) new common share of the Company (the "New Common Shares").

Currently, there are 119,084,065 Common Shares of the Company issued and outstanding. If and when the Company was to proceed with a consolidation as outlined above, then on a maximum post-consolidated basis, the Company anticipates that there would be approximately 23,816,813 New Common Shares of the Company issued and outstanding with the actual consolidation ratio to be determined by the Board of Directors (such ratio not to exceed five (5) old common shares for one (1) new common share). Fractional shares comprising less than one-half of one share will be deemed to have been tendered by the registered owner to the Company for cancellation, and will be returned to the authorized but unissued shares of the Company. Fractional shares comprising greater than or equal to one-half of one share will be converted into one whole common share.

The Share Consolidation is subject to TSX Venture Exchange approval and shareholder approval and therefore is being proposed to holders of Common Shares at the Company's upcoming annual general and special meeting on September 8, 2011 (the "Meeting"). The Board of Directors believes that the option for consolidation of the Common Shares should enhance their marketability as an investment and should facilitate additional financings to fund operations in the future if necessary.

Notwithstanding shareholder approval, the Board of Directors may, in their sole discretion, revoke the resolution approving the Share Consolidation at any time prior to its implementation.

The Company does not intend to change its name or seek a new stock trading symbol from the TSX Venture Exchange in connection with the Share Consolidation.

Further details are contained in the Company's information circular dated August 4, 2011, a copy of which is available electronically at www.sedar.com.

About El Nino Ventures
El Niņo Ventures Inc. is an international exploration company, focused on exploring for Copper/Cobalt in the Democratic Republic of Congo ("DRC") and Lead, Zinc and Copper in New Brunswick, Canada.

In Canada, El Nino holds a 50% interest in an extensive base metal project located within the Bathurst mining camp in Bathurst, New Brunswick, where earlier drilling campaigns have been carried out on several historical deposits of lead, zinc and copper mineralization within the large claim block owned 50% ELN, 50% Xstrata Zinc.

El Niņo subsequently entered into an option agreement with Votorantim Metals Canada Inc. and Xstrata Zinc Canada 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 landholdings to 70% by expending an additional $10 million over a further two years. (Please see release dated May 4, 2010,).

In January 2011, ELN announced that it has provided notice to Votorantim Metals Canada Inc. (Votorantim) to enter into a Participation Agreement on the Murray Brook Massive Sulphide /Polymetallic Deposit, situated in the Bathurst Mining Camp in New Brunswick, Canada. (See press release dated January 20, 2011). Drilling has been initiated on this project.
In February 2011, ELN announced that a $5 million exploration program has begun consisting of airborne and ground geophysics and will include a 10,000 metre drill program which is currently underway. (See press release dated February 23, 2011).

El Nino's management is aggressively seeking to add to its already extensive property portfolio and acquire additional projects on an International scale that meet our corporate objectives. This includes base and precious metal properties within Africa and North America.

On behalf of the shareholders and board of directors of El Nino Ventures, I would like thank you for your ongoing support.

"Harry Barr"

Harry Barr, Chairman and Acting CEO
 

For further information:

Corporate: Jay Oness -- jay@elninoventures.com
Investor Relations: Toll free 1.800.667.1870
2303 West 41st Avenue, Vancouve, B.C. V6M 2A3
Email: info@elninoventures.com

 

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: Tue Aug 30, 2011, Significant drill results continue to be intersected in the Murray Brook deposit, the fifth largest massive sulfide deposit in the Bathurst Mining Camp

You can view the Previous News Releases item: Tue Jul 12, 2011, El Niño Ventures Announces $1,000,000, 6650 Meter Drill Program at Murray Brook Massive Sulfide Deposit, New Brunswick in the Bathurst Mining Camp

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