El Nino Ventures Inc.

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Toll free 1.800.667.1870 or 1.604.685.1870
650 - 555 West 12th Avenue, City Square, West Tower, Vancouver, B.C. Canada V5Z 3X7

TSX.V: ELN OTCQX: ELNOF FRANKFURT: E7QN

El Nino Ventures Inc. (ELN) is an international base metals exploration company currently focused on developing projects in New Brunswick, Canada and the Democratic Republic of Congo (DRC).

In New Brunswick, we are currently working with Votorantim (2nd largest mining company in Brazil, with business interests in more than 20 countries. In Canada Votorantim operates through its subsidiary Votorantim Metals Canada (VMC)).
 

 
 

Murray Brook

The Murray Brook project, which has an excellent infrastructure, is the fifth largest massive sulfide deposit in the Bathurst Mining Camp. VMC can earn up to a 50% interest in the Murray Brook Project by funding $2,250,000 of exploration expenditures over a period of 3 years. ELN has elected to participate by paying 50% of VMC's exploration costs. VMC and ELN have a second option to acquire a further 20% by incurring an additional $2.25 million in exploration costs.

In 2011, ELN and VMC spent $2.1 million on exploration; and completed 10,000 meters of drilling. Drill results to date have been very positive.

The first NI 43‐101 Mineral Resource Estimate for the Murray Brook Zn‐Cu‐Pb‐Ag‐Au deposit, which includes explanatory footnotes, is presented below in Table 1. The resource estimate is based on various assumptions regarding mining methods, processing and metal recoveries, payable metal NSR credits and metal prices. This estimate makes no provision for capital costs to mine the deposit, nor mill the material mined, as resources are not reserves and the reader should not presume economic viability.

Table-1 Murray Brook Mineral Resource Estimate Summary

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio‐political,
marketing, or other relevant issues.

(1) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

(2) The mineral resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standard Committee on Reserve Definitions and adopted by CIM Council

(3) The Dec 31, 2011 two year trailing average US metal prices used in this estimate were $3.71/lb Cu, $1.03/lb Pb, $0.98/lb Zn, $1,397/oz Au, $27.63/oz Ag. The C$/US$ Exchange rate was 0.99.

(4) Overall payable metal in the NSR calculation were 81% Cu, 72% Pb, 64% Zn, 71% Au and 56% Ag. (5) Mineral resources were determined within a Whittle pit shell with 45 degree slopes utilizing mining costs of C$2.50/tonne for mineralized material and waste rock, and C$1.75/tonne for overburden.

(6) Costs used to determine the C$20/tonne NSR resource cut‐off value were processing at C$15/tonne and G&A C$5/tonne.

(7) The Murray Brook Mineral Resource Estimate was undertaken by Eugene Puritch, P.Eng. of P&E Mining Consultants Inc.


The 2012 Murray Brook exploration budget is $3 million and includes up to 18,000 meters of drilling, metallurgical studies and regional exploration on claims adjacent to the Murray Brook deposit

Bathurst

ELN has a second agreement in Bathurst Mining Camp, known as the Tri-Party Agreement. In this agreement El Nino Ventures and Xstrata Zinc Canada each hold a 50% interest in a large base metal project. This area has had several historic polymetallic (zinc, copper, lead, gold and silver) occurrences within an area that encompasses 1,805 claims.

El Nino and Xstrata subsequently entered into the Tri-Party Option Agreement with Votorantim Metals Canada, whereby Votorantim can earn a 50% interest in the land holdings by incurring exploration expenditures of $10 million over 5 years. Votorantim may increase its interest to 70% by incurring expenditures of an additional $10 million over 2 years.

Votorantim's 2011-2012 expenditures will be $5 million and include up to 10,000 meters of drilling. As part of the $5 million exploration program, Votorantim completed airborne geophysical surveys in order to identify new targets for drill testing in 2011-2012.

Kasala

ELN's third project is a 70% interest in the Kasala property, which is a new copper discovery located on the Democratic Republic of Congo (DRC), Africa. ELN is currently finalizing a legal action in the DRC and arbitration in Canada and plans to resume its exploration activities as soon as these issues are resolved.

 

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