VANCOUVER, Dec. 20, 2012 /CNW/ - El Nino Ventures Inc. ("ELN" and the
"Company") (TSX.V: ELN; OTCQX: ELNOF Frankfurt: E7QN) announces that
the Company will re-file its interim financial statements and
management discussion and analysis ("MD&A") for the interim periods
ended April 30, 2012 and July 31, 2012 as a result of a change in the
Company's accounting policy related to its exploration and evaluation
The Company will now capitalize exploration and evaluation expenditures,
including the cost of acquiring licenses. The Company previously
expensed its exploration and evaluation expenditures as incurred.
Costs incurred before the Company has obtained the legal rights to
explore an area will continue to be expensed as incurred.
The Company is of the opinion that capitalizing the exploration and
evaluation expenditures, which is acceptable under International
Financial Reporting Standards, provides a better basis of comparison to
other similar junior mining companies.
About El Nino Ventures Inc.
El Niño Ventures Inc. is an international exploration company, focused
on exploring for zinc, copper, gold, silver and lead in New Brunswick,
Canada and copper/cobalt in the Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors,
John Oness, COO & 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.
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.
For further information:
Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: firstname.lastname@example.org or visit www.elninoventures.com
650-555 West 12th Avenue, Vancouver, B.C., Canada, V5Z 3X7