VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Nov 7, 2007 -- Erin Ventures Inc. ("Erin") (CDNX:
EV.V -
News)(Other OTC:
ERVFF.PK -
News)(Berlin:
EKV.BE -
News) is pleased to report the following results from the production of placer gold on its Ceibo Chico Property in Belize, using a 'New Zealand' type gold recovery dredge:
--------------------------------------------------------------------- Ceibo Chico Gold Production --------------------------------------------------------------------- Raw Gold Grade Yds3 Raw Gold Recovered(i) Date gms/yd3 Processed Ounce (Gram) --------------------------------------------------------------------- October, 2007 0.71 6,680 160.6 (4,994.5) --------------------------------------------------------------------- September, 2007(1) 0.77 4,280 106.0 (3,296.5) --------------------------------------------------------------------- August, 2007(1) 0.75 5,720 136.8 (4,254.4) --------------------------------------------------------------------- July, 2007(2) 0.65 6.500 137.3 (4,271.2) --------------------------------------------------------------------- June, 2007(2) 0.63 5,000 102.5 (3,188.2) --------------------------------------------------------------------- TOTAL 29,990 643.2 (20,004.8) --------------------------------------------------------------------- Production results will vary from month to month, depending on variables such as weather conditions, crew and equipment performance, and varying Au values in the gravels processed. (i) an Au (pure gold) equivalent can be approximated by multiplying the quantity of raw gold by 0.70 (to account for a refining melt loss and the Fineness of the raw gold) (1) as reported in Erin's news release dated October 3, 2007 (2) as reported in Erin's news release dated August 8, 2007
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Net cash flow, resulting from the sale of this gold production, is being utilized to help offset ongoing exploration and other operational expenses, in an effort to minimize shareholder dilution as much as possible.
On behalf of the Board of Directors,
Blake Fallis, General Manager
The technical information in this release was prepared by James E. Wallis, M.Sc. (Eng.), P. Eng. a director of the Corporation, who is a Qualified Person under National Instrument 43-101.
About the Ceibo Chico Gold Prospect
- The property consists of 4 contiguous Exclusive Prospecting Licenses covering approximately 34 square kilometers (13 square miles), and a 160.25 hectare (396 acre) Mining License, in west/central Belize.
- Erin has an option agreement to acquire up to 90% equity in the Prospect.
- Erin has commenced gold production of the placer gold found on the Fan to establish cash flow to help off set exploration costs. The Fan is comprised of alluvial gravels formed where the drainage opens up at the contact with limestones.
SEC 12G3-2(B) #82-4432
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.