2012-10-31 13:35:05 -
Potential Strategic Partner Completes Next Phase of Due Diligence
Victoria, British Columbia CANADA, October 31, 2012 /FSC/ - Erin Ventures Inc. (EV - TSX Venture), announces the successful testing of a bulk sample of borate ore by a potential strategic partner. As reported previously, this prospective partner, who is currently conducting due diligence on Erin's Piskanja boron project in Serbia for the purpose of assessing the viability of entering into a partnership with Erin, purchased a 200 tonne bulk sample of colemanite for analysis. The sample was extracted from the Pobrdje boron mine (a small deposit located 2.5 km from Piskanja in the same sedimentary basin), 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. The sample material was analysed and tested in one of the prospective partner's boric acid production facilities in order to ascertain the suitability of this colemanite for the use in the production of boric acid on a commercial scale. Testing is now complete with the prospective partner reporting positive results that meet their expectations and requirements.
The parties are now entering into discussions regarding a potential commercial alliance, as the potential partner's due diligence nears completion. This prospective partner meets Erin's criteria for a strong strategic partner because of its 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 boron markets).
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
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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Source: Erin Ventures Inc. (EV - TSX-V) www.erinventures.com
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