2012-09-05 19:14:20 -
Erin Ventures Inc. (TSXV: EV) announces that it continues to be actively engaged in the due diligence process with potential strategic partners regarding the development of its Piskanja boron project in Serbia.
A prospective partner who is currently conducting due diligence on the Piskanja project has expressed an interest in forging a multi-faceted, long-term strategic alliance with Erin, upon completion of the due diligence. This prospective partner meets Erin's criteria because of their ability to provide Erin with: the capital required to develop the mine; boron-specific technical and marketing expertise; and a ready market for boron products from Piskanja (as they are both a leading consumer and a major wholesaler of boron and boron derivatives in one of the world's
largest and fastest growing markets for boron products).
As part of their due diligence process, the potential partner purchased a 200 tonne bulk sample of colemanite for analysis. The sample was extracted from the Pobrdje boron deposit (owned by Ibar Mines and located 2.5 km from Piskanja), as the potential partner is satisfied that the mineralogy and boron grades at Pobrdje are sufficiently similar to those at Piskanja to be representative and relevant. They have reported to Erin that the chemical analysis of the sample, conducted at their laboratory, is now complete with positive results that meet their expectations. As the laboratory testing was positive, the next step in their analysis is the testing of the sample material in their factory, in order to ascertain the suitability of the material in a large-scale, practical setting. Results of this large-scale testing are expected over the next few weeks.
On behalf of the Board of Directors,
Blake Fallis, General Manager
For further information, please contact: Erin's Public Quotations:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746 USA
SEC 12G3-2(B) #82-4432
645 Fort Street, Suite 203 OTCBB: ERVFF
Victoria BC V8W1G2 Europe
Canada Berlin Stock Exchange: EKV
The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., 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.
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