Boron One Holdings Inc V.BONE

B-O-R-O-N

[Triple13]

ERIN VENTURES INC. ("EV-V")

- Signs Serbian Boron Joint Venture Agreement

Erin Ventures Inc. ("Erin") is pleased to report that it has entered in

to a binding agreement with the Serbian state-owned mining company, JP PEU,

for the joint development of the Piskanja boron deposit, located in Serbia.

This agreement is subject to the Serbian Mining Ministry granting an

exclusive exploration license for the Piskanja deposit to Erin. This

agreement has been officially endorsed by JP PEU, Ibarski Mines (a wholly

owned subsidiary of JP PEU, which currently holds the rights to the

Piskanja boron deposit), and the National Serbian Miners Union. It is

estimated that the percentage ownership in the joint venture will be

approximately 90% Erin; 10% JP PEU, based upon the relative values of the

contributions made by the parties.

Erin is currently preparing the documentation required for the

exploration license, for submission to the Serbian authorities. It is

anticipated that an exploration license may be granted within the next 90

days.

The key terms in the agreement are as follows:

1. Erin's wholly-owned Serbian subsidiary, Balkan Gold d.o.o. ("Balkan")

will apply for an exclusive exploration license on the Piskanja property,

and conduct a geological study on the deposit. If results are positive,

Balkan will then compose a feasibility study for mine development. Balkan

is responsible for 100% of the costs related to these studies, and retains

100% ownership at this stage.

2. When the feasibility study is complete, Balkan and JP PEU will form a

joint venture company that will apply for an exploitation license. However,

in the event that JP PEUs corporate structure does not allow for it to

enter into this joint venture (as is currently the case), Balkan will

retain the right to apply for the exploitation license on its own, and

retain 100% interest in the project.

3. Ownership in the joint venture company will be directly proportional

to the value of the assets contributed by each party.

* Balkan will be responsible for providing all the funding required to

develop the mine and ore processing facilities.

* JP PEU will contribute certain existing infrastructure assets in its

possession (such as a power substation, access roads, rail spur, office and

maintenance buildings in strategic proximity to the property) and

historical research data from previous exploration programs at Piskanja.

The determination of the assets to be contributed by JP PEU to the joint

venture shall be at the sole discretion of Balkan. These assets will be

contributed at their established fair market value.

4. An official determination of percentage ownership will occur at the

completion of the mine development, and be based upon the amount that has

been actually spent by Balkan on exploration and mine development, and the

fair market value of the assets contributed by JP PEU.

5. Balkan and JP PEU agree that the joint venture company will primarily

employ manpower from the Ibarski Mine, as qualified and required.

6. Each party will have representation on the board of directors of the

joint venture company on a basis that reflects their prorata ownership of

the joint venture company.

This joint venture agreement between Erin and JP PEU has no direct

bearing on Erins ongoing US$15 million legal action against EPS, the

national power corporation of Serbia, regarding alleged breaches by EPS in

the former joint venture agreement it held with Erin regarding the

development of the Piskanja property (as reported by Erin in its news

release dated June 22, 2009).

Summary of the Piskanja boron property

Piskanja is located in a historical mining region that has good

infrastructure for mining including roads, rail, electric power,

experienced miners, etc., 250 km south of Belgrade by good paved

roads.

The Piskanja property has a historic resource (that is not NI 43-101

compliant and must be verified) of approximately seven million tonnes of 39

per cent B2O3 (boron) as colemanite and ulexite, based upon historic drill

data (some of which, was conducted by Erin previously). The deposit is open

both to the south and the east. Evaluation of the drill-hole data by

Erin's technical advisers indicate that the Piskanja deposit has the

potential of hosting additional significant borate reserves.

About boron

Borate minerals and refined borate products are used extensively

worldwide in the manufacture of vitreous products such as fiberglass

insulation, textile fiberglass, borosilicate glass (LCD screens), ceramic

glazes and porcelain enamels. These applications account for approximately

60 per cent of borate consumption, with detergents, fire retardants,

metallurgy, agriculture, insecticides, wood preservatives and specialty

products accounting for the remainder. Consumption of borates used in

high- technical applications is expected to increase by 10% in North

America and 13% in Europe by 2012. China is the largest consumer of boron,

where consumption has rose by 15 percent per year from 2000 to 2010. Market

prices reflect the relative scarcity of borates with prices averaging:

US$280/t for colemanite concentrate (40-42 percent B2O3); US$500/t for

ulexite (40 percent B2O3); US$550/t for boric acid; and US$50/kg for

anhydrous borax.*

*Source: US Geological Survey, Report on Boron 2008.

About JP PEU and Ibarski Mine

In operation since 1853, JP PEU (Public Company for Underground Coal

Exploitation, Resavica) currently operates 9 mines throughout Serbia. It

produces 500,000 tonnes of coal per year, and employs 4,000 workers. Ibar

Mine, a wholly owned subsidiary of JP PEU, has been producing coal for 100

years, with 500 employees experienced in underground mining. The Piskanja

deposit is located in the mining region belonging to the Ibar mine.

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 consultant to the Corporation, who is a Qualified

Person under National Instrument 43-101.

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

Forward Looking Statements

This release contains forward looking statements. The words "believe,"

"expect," feel, "plan," "anticipate," project, could, should and

other similar expressions generally identify forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking

statements, which speak only as of their dates. These forward-looking

statements are subject to a number of risks and uncertainties including,

without limitation, variations in estimated costs, the failure to discover

or recover economic grades of minerals, and the inability to raise the

funds necessary for the continued operations of the Company, changes in

external market factors including commodity prices, and other risks and

uncertainties. Actual results could differ materially from the results

referred to in the forward-looking statements.

TEL: [phone] Erin Ventures Inc.

Capitalization Report for Erin Ventures Inc

Shares Issued: 108843676

Shares Escrow: 1560775

TSX Venture closing price for Erin Ventures Inc

Date: 2010/05/05

Closing Price: 0.075

TEL: [phone] Blake Fallis, General Manager

Website: www.erinventures.com

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