2013-01-08 14:03:55 -
License Covers 35 km2 in Basin That Hosts Two Known Boron Deposits
Victoria, British Columbia CANADA, January 08, 2013 /FSC/ - Erin Ventures Inc. (EV - TSX Venture), has received an exclusive exploration license for additional territory within the Jarandol Basin in Serbia. The Jarandol Basin hosts two known borate deposits, the Piskanja boron property (already under license by Erin) and the Pobrdje boron mine (operated by the Serbian government-owned company - Ibar Mines).
The key terms of this license are:
o The exploration license is valid until December 10, 2015
o The license covers an area totaling 35.22 km2 (including all the prospective land directly adjacent to both the Piskanja boron deposit and the Pobrdje Boron Mine, as well
as all of the land in between these two deposits - see the attached map)
o The license term may be extended beyond the initial 3 year period, at the request of Erin
o Erin has the exclusive right to apply for an exploitation (mining) license, upon successful completion of exploration
"The addition of the Jarandol Basin to our project is exciting for several reasons" said Tim Daniels, President of Erin. "First, our Piskanja borate deposit remains open and untested in two directions. The inclusion of this new exploration territory, which surrounds Piskanja, allows us to test beyond the borders of Piskanja and potentially increase its currently known size. Secondly, this license allows us to test the two and a half kilometers of unexplored land between Piskanja and Pobrdje to see if there is continuity between these two boron deposits. Finally, anecdotal reports cite the occurrence of boron in various other locations throughout the Basin, opening the possibility for us to locate yet undiscovered deposits."
About The Jarandol Basin
The Jarandol Basin is a well-known historical mining district in southern Serbia which hosts two known boron deposits, an operating coal mine, and a (now depleted) magnesite mine. The Basin hosts excellent infrastructure for mining including local paved roads, rail, power, experienced miners, and sufficient support industries, located 250 km south of Belgrade by good paved roads. The Jarandol Basin is a Miocene age tertiary deposit located within the Vardar Belt of Neogene lacustrine deposits of evaporates. The Vardar Belt contains the world's richest borate deposits, including those found in Turkey, which are of similar genesis to the Serbia borate deposits.
About Erin Ventures Inc.
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol EV. For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
On behalf of the Board of Directors,
Blake Fallis, General Manager
For further information, please contact:
Erin Ventures Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
645 Fort Street, Suite 203
Victoria BC V8W1G2
Erin's Public Quotations:
TSX Venture: EV
SEC 12G3-2(B) #82-4432
Berlin Stock Exchange: EKV
The technical information in this release was prepared and approved by Dr. Toljic, PhD. Geol, , a consultant to the company, who is a Qualified Person under National Instrument 43-101.
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
Forward Looking Statements
This release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.
To view the graphic Licenses in Jarnandol Bassin please click on the following link:
To view this press release as a webpage please click on the following link:
Source: Erin Ventures Inc. (EV - TSX-V) www.erinventures.com
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