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Votorantim Metals Canada Inc.
finalizes Option/Joint Venture Agreement
with El Ni�o Ventures and Xstrata Zinc.
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May 4, 2010. Vancouver, BC - El Ni�o Ventures Inc. ("ELN")
(TSX.V:E7Q) is pleased to announce that
Votorantim Metals Canada Inc. (Votorantim) has finalized its Option / Joint
Venture Agreement (OJV) with ELN and Xstrata Canada Corporation --
Xstrata Zinc Canada Division (Xstrata Zinc) to earn a 50% interest in
the Bathurst Mining Camp (BMC) project by incurring exploration
expenditures of $10 million over a period of five years. Votorantim can increase its interest to 70% by
spending another $10 million over an additional two years thereafter
ELN and Xstrata Zinc Canada interests would be reduced to 15% from 25%
respectively.
The BMC project is comprised of 1805 claims owned 50% ELN, 50% Xstrata,
2907 claims owned 100% by Xstrata Zinc, together with an Area of
Interest in which ELN and Xstrata Zinc hold equal interest. Earlier
drilling campaigns delineated several historical deposits of lead, zinc
and copper mineralization within the 1805 claims in which ELN currently
holds 50% interest (see June 4, 2008 press release). Insufficient work
has been carried out to classify any of the historic occurrences as
current mineral resources and the historical estimates should not be
relied upon.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc. is a subsidiary
of Votorantim Metais,
a company that is part of the Votorantim
Group, which was founded in Brazil in 1918 and now operates in twenty
countries and has over sixty-five thousand employees. Votorantim Metais is the
largest electrolytic nickel producer in Latin America and one of the
world's leaders in production of zinc, aluminum
and steel.
About El Ni�o Ventures
El Ni�o Ventures is a mineral exploration company, focused on
copper/cobalt exploration in the DRC (see releases January 12, 2009,
February 25, 2009 & March 11, 2010). The Company holds a 50%
interest in an extensive base metal project located within the Bathurst
mining camp in Ontario, Canada. El Ni�o finalized its option agreement
in April 2010 with Votorantim Metals Canada
Inc. and Xstrata Zinc whereby Votorantim may
earn a 50% interest in El Ni�o's landholdings by expending $10 million
over 5 years and may further increase its interest in El Ni�o's and
Xstrata Zinc's landholdings to 70% by expending an additional $10
million over a further two years.
On Behalf of the Board of
Directors
"Harry Barr"
Harry Barr, Chairman and Acting CEO
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Further information:
Contact: Mark Feeney at 604.786.2587, Toll free 1.800.667.1870 Fax
604.683.4887
Email: info@elninoventures.com , or visit www.elninoventures.com
2303 West 41st Avenue, Vancouver, B.C. Canada V6M 2A3
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("ELN") (TSX.V:E7Q) is pleased to announce that Votorantim Metals Canada Inc. (Votorantim)
has finalized its Option / Joint Venture Agreement (OJV) with ELN and
Xstrata Canada Corporation -- Xstrata Zinc Canada Division (Xstrata Zinc)
to earn a 50% interest in the Bathurst Mining Camp (BMC) project by
incurring exploration expenditures of $10 million over a period of five
years. Votorantim can increase its interest to
70% by spending another $10 million over an additional two years thereafter
ELN and Xstrata Zinc Canada interests would be reduced to 15% from 25%
respectively.
The BMC project is comprised of 1805 claims owned 50% ELN, 50% Xstrata,
2907 claims owned 100% by Xstrata Zinc, together with an Area of Interest
in which ELN and Xstrata Zinc hold equal interest. Earlier drilling
campaigns delineated several historical deposits of lead, zinc and copper
mineralization within the 1805 claims in which ELN currently holds 50%
interest (see June 4, 2008 press release). Insufficient work has been
carried out to classify any of the historic occurrences as current mineral
resources and the historical estimates should not be relied upon.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais, a company
that is part of the Votorantim Group, which was
founded in Brazil in 1918 and now operates in twenty countries and has over
sixty-five thousand employees. Votorantim Metais is the largest electrolytic nickel producer in
Latin America and one of the world's leaders in production of zinc, aluminum and steel.
About El Ni�o Ventures
El Ni�o Ventures is a mineral exploration company, focused on copper/cobalt
exploration in the DRC (see releases January 12, 2009, February 25, 2009
& March 11, 2010). The Company holds a 50% interest in an extensive
base metal project located within the Bathurst mining camp in Ontario,
Canada. El Ni�o finalized its option agreement in April 2010 with Votorantim Metals Canada Inc. and Xstrata Zinc whereby Votorantim may earn a 50% interest in El Ni�o's
landholdings by expending $10 million over 5 years and may further increase
its interest in El Ni�o's and Xstrata Zinc's landholdings to 70% by
expending an additional $10 million over a further two years.
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr, Chairman and Acting CEO
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Further information:
Contact: Mark Feeney at 604.786.2587, Toll free 1.800.667.1870 Fax 604.683.4887
Email: info@elninoventures.com ,
or visit www.elninoventures.com
2303 West 41st Avenue, Vancouver, B.C. Canada V6M 2A3
Neither the TSX Venture Exchange nor 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 CUSIP# 28335E-10-6
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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