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Market: TSX
Sector: General Mining
EPIC: ELN
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El Niño Ventures
www.elninoventures.com

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.

Full El Niño Ventures profile here
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El Niño Ventures Completes Acquisition of Phoenix Mining

16th Dec 2008, 12:00 am 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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