VANCOUVER, Feb. 21 /CNW/ - El Nino Ventures Inc. ("El Nino") (TSX.V: ELN;
OTCBB: ELNOF; Frankfurt: E7Q) Re: Mining Contracts Review in the Democratic
Republic of Congo and Corporate Update.
This release is in response to the issues that were addressed at the
Indaba Mining Conference in Capetown, South Africa on February 5th 2008,
pertaining to the review by the Government of some sixty mining contracts in
the Democratic Republic of Congo (DRC).
El Nino Ventures land position is not affected by this review of mining
contracts and the company will continue to conduct business in the DRC under
the rules and regulations of the New Mining Code that came into effect in
Since El Nino acquired its five Research Permits, covering more than
350 square kilometers in the DRC, it has made it abundantly clear that it will
fast track its exploration efforts in order to identify economic
mineralization on its properties. El Nino President, Jean Luc Roy, stated "Our
first set of assay results, recently reported from our initial drill program,
have demonstrated that we are in a highly mineralized area. Additional assay
results from our drill program will be reported when received. Our 2008 drill
program, scheduled to commence in April 2008, is now being finalized".
El Nino's most recent acquisition in the DRC was announced on
February 4th 2008. This property is within six kilometers of Anvil Mining's
Kinsevere copper project, and encompasses over fifty-four square kilometers
highly, prospective for copper mineralization. With the assistance of Caracle
Creek International Consulting, (CCIC), (a professional geological consulting
company providing a wide range of geological and engineering services to the
mineral exploration and mining industry) we will implement a comprehensive
exploration program on this new acquisition in 2008.
In addition, our plans for 2008 will include an analysis of the
geochemical data from the recently completed soil sample survey and
2600 line kilometre Heli-Mag geophysical survey completed on Research
Permit(s) 5214, 5215, 5216 and 5217. CCIC will also be instrumental in
assisting our team of experienced geologists in the DRC, in delineating drill
targets for the upcoming minimum 25,000 meter drill campaign planned on our
initial Research Permits. This drill program will commence in April 2008.
With $7.9 million in the treasury, El Nino is fully funded to carry out
its 2008 exploration program in the DRC and will continue to release results
from the previous drill program as they become available.
Jean Luc Roy, President & CEO of ELN also stated: El Nino Ventures land
position in the DRC is not under review as we are not under a contract
agreement but under the rules and regulations of the Mining Code of the DRC.
The review process that is taking place is only reviewing mining contracts
that were signed with the State-Owned mining company. Our research permits
were granted under the new mining code and we have no contractual agreements
with State Owned companies. We are very comfortable working in the DRC and
will continue to work with the governmental authorities and operate in
accordance with the legislation in place.
About El Nino Ventures Inc.
El Nino Ventures is a junior exploration company, whose corporate
objective is to revisit former mining regions and apply the latest
technologies to advanced stage exploration targets. El Nino is currently in
the middle of a 25,000 meter drill program in the Bathurst Mining Camp via an
option/joint venture agreement with Xstrata Zinc. El Nino has recently
acquired a 70% interest in over 350 square kilometers in the world renowned
copper belt in the Democratic Republic of Congo as well as thirteen
prospecting licences covering more than 450 square kilometers in the Republic
of Ireland prospective for zinc.
On Behalf of the Board of Directors
Jean Luc Roy, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
CUSIP No. 28335E-10-6
This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the British
Columbia Securities Commission and the United States Securities & Exchange
Commission. This email should not be construed as an offer to buy or sell
securities of this company.
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