Here''s your NRErin Commences Carolina Gold Exploration
February 28, 2007
Erin Ventures Inc. (EV: TSX-V) announces the commencement of Phase 1 of a diamond drilling program at the Company’s Deep River Gold Project, in North Carolina.
This phase of exploration will consist of approximately 10 holes of HQ size vertical core drilling, totaling at least 1,500 metres, testing a portion of the 125 hectare “Southern Anomaly B”. The “Southern Anomaly B” is one of several known anomalies within the 40 square kilometre alteration associated with the Deep River porphyry system.
The primary objective of this phase of drilling is to ascertain what is controlling the mineralization and what the preferred orientation is within the porphyry. The results of Phase 1 drilling will give an indication as to the orientation, depth, extent, and continuity of gold mineralization. This information will aid in determining which direction (i.e. horizontally and depth) and what orientation (i.e. vertical or angle holes) is optimal in any future drilling.
Drill targets have been generated for this phase using an aggregate of legacy data, recent geophysical analysis, and a re-analysis of a proprietary technical data base using the latest software and techniques, and will test a portion of the known soil gold anomaly (+ 50 ppb) which has dimensions of approximately 3 kilometres by 1 kilometre with gold values up to 3.5 g/t. Drilling will be on a N-S / E-W staggered grid which will allow the generation of detailed cross sections, using a combination of the previous and new drill hole data.
Boart Longyear has been contracted to do the drilling. Boart Longyear is the largest contract core drilling company in the U.S. with many years of experience. It is anticipated that the drilling will take 9 weeks to complete.
ABOUT DEEP RIVER
Deep River contains gold-copper-molybdenum mineralization that is associated with altered porphyry intrusions and associated volcanic rocks and sediments. This high-level porphyry gold style mineralization in the Carolina Slate Belt is considered to have the potential for significant tonnage and economic value. The highly anomalous soil gold values found at Deep River are analogous to those encountered during the initial geochemical surveys at the two-million ounce Ridgeway gold mine.
The alteration associated with this porphyry system forms an elliptical shape elongated in a northwesterly direction and covers an area of approximately 8 km by 5 km. Within this system, the known soil gold anomaly (+ 50 ppb) has dimensions of approximately 3 km by 1 km with gold values up to 3.5 g/t. The broad alteration pattern may indicate the sub-surface existence of a much larger intrusive system that has not been drill tested.
Results from rock sampling of the limited outcrop in the prospect area range up to 3.1 g/t gold, 0.2% copper, 0.13% molybdenum and 0.74% lead. Rock samples taken outside of the original soil grid reported 2.5 g/t and 0.6 g/t gold, indicating good potential to expand the overall dimensions of the mineralized zone. An airborne magnetic, radiometric and EM geophysical survey show that the presently known area of alteration and mineralization is situated on the northwest flank of a large magnetic low, indicating that the system may be significantly larger than exposed.
On behalf of the Board of Directors of Erin Ventures, Inc.,
Blake Fallis, General Manager
The technical information in this release was prepared by Peter H. Evans, Certified Professional Geologist, a director of Triangle Minerals, Inc., who is a Qualified Person under National Instrument 43-101.
For further information, please contact
Blake Fallis at 1-888-289-3746 or (250) 384-1999
Erin Ventures Inc
31 Bastion Square, Suite 102
Victoria , BC
V8W 1J1 Canada
Whaler Capital Corp. (Investor Relations)