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Market: TSX
Sector: General Mining
Epic: ELN
News: Latest news
Web Site: El Niño Ventures
Other Articles: 06-08-200905-05-200917-02-2009

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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El Niño Ventures

El Niño Ventures

El Nino Ventures Inc. is a junior exploration company focusing its efforts on copper exploration in the Democratic Republic of Congo and base metals exploration in the Bathurst Mining Camp in Bathurst, New Brunswick and Ireland. The Company is engaged in the acquisition, exploration and development of mineral properties.

Tuesday, December 16, 2008

El Niño Ventures Completes Acquisition of Phoenix Mining

El Niño Ventures (TSX.V: ELN) announce that it has signed an Acquisition of an Interest Agreement with Phoenix Mining Corporation, a Congolese mining company.

Under the terms of the agreement, El Niño can earn a 70% interest in PR 9316 in the DRC by making a payment of US$200,000, issuing 100,000 shares on each of the three anniversary dates of the agreement for a total of 300,000 shares, and pay $2 million to Phoenix Mining upon the following schedule: (i) $250,000 within 15 days of the first anniversary (ii) $300,000 within 15 days of the second anniversary (iii) $350,000 within 15 days of the third anniversary, and (iv) the balance of $1,100,000 within 15 days of the fourth anniversary.

Jean Luc Roy, President & CEO of El Niño Ventures Inc. states: "We are very happy to reach a conclusion on this acquisition with Phoenix Mining. This Research Permit 9316 is located between two world class deposits, the Ruashi deposit and the Luishi deposit and the Company is already planning its initial exploration program which will be carried out over the next year.

I would also like to update our shareholders on the pending results on our PR 5214 which were expected this month. We should have all results in a couple of weeks and at that point the Company will release its results on the Kasala Project. "

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