VANCOUVER, Sept. 25 /CNW/ - El Nino Ventures Inc. ("ELN" and the "Company") (TSX.V ELN) is pleased to announce that Mr. Harry Barr has been appointed Chairman and Acting CEO of the Company.
Mr. Barr's immediate objective will be to finance the Company to a level which will secure the advancement of its properties in the Democratic Republic of Congo ("DRC") where the Company made a significant Copper discovery, which is now known as the Kasala Project. The Kasala Project has several intercepts of ore grade material with thickness varying from 50 to 90 meters. Please refer to press releases dated January 12, 2009 and February 25, 2009.
In order to further the development of the Kasala Project and ELN's other DRC properties, Management plans to continue to negotiate with Joint venture partners and arrange additional equity financing.
The Company also wishes to announce that Mr. Jean Luc Roy has resigned from his position of President and CEO of the company effective immediately.
The board of directors wish to thank Mr. Roy for his contribution to the Company over the last three years and wish him the best in his future endeavors.
About El Nino Ventures Inc.
El Nino Ventures is a exploration company, focused on exploring for Copper/Cobalt in the Democratic Republic of Congo ("DRC"). In addition the Company had entered into an Option agreement with Votorantim and Xtrata Zinc whereby Votorantim, by incurring exploration expenditures of $10 million over a period of 5 years. Votorantim may further elect to increase its interest to 70% by spending another $10 million over an additional two years. The Votorantim option is on an extensive land package in the Bathurst Mining Camp that ELN currently shares 50/50 with Xstrata Zinc Canada. (Please refer to ELN's August 6, 2009 news release).
On Behalf of the Board of Directors,
Michael Philpot, Lead Director
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 CUSIPNo. 28335E-10-6
Note: this release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
SOURCE El Nino Ventures Inc.
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