VANCOUVER, May 24, 2011 /CNW/ - El Niño Ventures Inc. ("ELN" and the "Company") (TSXV: ELN) (Frankfurt: E7Q) wishes to announce that, further to its press release of April 26, 2011, the Company has granted, effective today, an aggregate 3,710,00 stock options, not 4,000,000 stock options as disclosed in the April 26th press release. The Company has granted these options to various directors, officers, employees and consultants of the Company at an exercise price of $0.17 per common share for a period of five years. The foregoing is subject to regulatory approval.
About El Nino Ventures
El Niño 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 Niño subsequently entered into an option agreement with Votorantim Metals Canada Inc. and Xstrata Zinc Canada whereby Votorantim may earn a 50% interest in El Niño's landholdings by expending $10 million over 5 years and may further increase its interest in El Niño's landholdings to 70% by expending an additional $10 million over a further two years. (Please see release dated May 4, 2010,).
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 slated for commencement in the spring of 2011. (See press release dated February 23, 2011).
In January 2011, ELN announced that it has provided notice to Votorantim Metals Canada Inc. (Votorantim) to enter into an Option 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.
El Nino's management is aggressively seeking to acquire additional projects on an International scale that meet our corporate objectives. This includes base and precious metal properties within Africa and North America.
El Nino has approximately $2.5 million in cash with no debt.
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 & Acting CEO
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.
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.
