November 21, 2011
Vancouver, Canada -- El Niņo Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN;
Frankfurt: E7Q; OTCQX: ELNOF) is pleased to announce non-brokered
flow-through and non flow-through private placements of up to 10,000,000 units
for gross proceeds up to $1,500,000.
Each non flow-through unit ("NFT Unit") at a price of $0.13 per NFT Unit will
consist of one common share and one-half of one non-transferable share purchase
warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one
common share of the Company at a price of $0.23 per share for 18 months from
closing, subject to an accelerated expiry, such expiry being accelerated to 30
days in the event the Company's shares have closed at or above a price of $0.40
per share for 10 consecutive trading days on the TSX Venture Exchange.
Each flow-through unit ("FT Unit") will consist of one common flow-through share
in the capital of the Company and one-half of one non flow-through share
purchase warrant at a price of $0.15 per FT Unit. Each whole warrant will
entitle the holder thereof to purchase one additional non flow-through common
share of the Company at $0.25 for a period of 18 months from closing subject to
an accelerated expiry, such expiry being accelerated to 30 days in the event the
Company's shares have closed at or above a price of $0.40 per share for 10
consecutive trading days on the TSX Venture Exchange.
The private placements and finders fees payable are subject to regulatory
The proceeds of this private placement will be used to fund the 2012 exploration
budget at the Murray Brook Polymetallic project in Bathurst, New Brunswick and
general working capital.
About El Niņo Ventures Inc.:
El Niņo Ventures Inc. is an international exploration company, focused on
exploring for lead, zinc, copper, gold and silver in New Brunswick, Canada and
copper in the Democratic Republic of Congo (ʺDRCʺ).
Murray Brook Project
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 20th, 2011).
The first phase of the 2011 drill program was completed
in spring/summer 2011 and significant intersections of zinc, copper, lead, gold
and silver were reported. The second phase of the drilling program was initiated
in September 2011 and results are expected before year end. (See press release
dated August 30, 2011). The Murray Brook 2012 Exploration program budget is
currently set at $2.5 Million. This program will consist of a multi phase drill
program and a NI43-101 resource estimate with preliminary tonnage and grade
calculations to be completed in Q1-Q2 2012.
Bathurst Tri Party Agreement
Also in the Bathurst Mining Camp, El Niņo has an additional project whereby it
holds a 50% interest in an extensive base metal deposit. Located within the
Bathurst Mining Camp in Bathurst, New Brunswick, 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 (The Bathurst Tri Party Agreement) whereby
Votorantim may earn a 50% interest in El Niņoʹs landholdings by expending $10
million over 5 years and may further increase its interest in El Niņoʹs
landholdings to 70% by expending an additional $10 million over a further two
years. (Please see press release dated February 23, 2011 ).
ELN's management is negotiating to acquire additional projects on an
international scale that meet our corporate objectives.
On behalf of the Board of Directors,
Harry Barr, Chairman and Acting CEO
For further information:
Corporate: Jay Oness --
Investor Relations: Toll
2303 West 41st Avenue, Vancouve, B.C. V6M 2A3
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
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.