Erin Opts out of Serbian Boron Joint Venture Agreement in Favor of Retaining 100% Interest in Project
Erin Opts out of Serbian Boron Joint Venture Agreement in Favor of Retaining 100% Interest in Project
Victoria, British Columbia CANADA, January 28, 2013 /FSC/ - Erin Ventures Inc. (EV - TSX Venture), has received Serbian government approval to opt out of its agreement with the Serbian state-owned mining company "JPPEU" for the future joint-development of the Piskanja boron deposit. As a result, Erin will continue to retain an undivided 100% interest in the Piskanja project.
As reported by Erin in a news release dated May 11, 2010, Erin and JPPEU entered into an agreement for the future joint-development of the Piskanja boron property, subject to certain conditions. JPPEU could have potentially earned an interest in the Piskanja project based upon the contribution of certain of its assets to a joint venture with Erin. The determination of which assets could be contributed to the joint venture by JPPEU was at the sole discretion of Erin.
Erin has determined that it is in its best interest, given the potential value of Piskanja, to opt out of this agreement with JPPEU in favor of pursuing strategic alliances with other potential partners who meet Erin's criteria of being well established international leaders in various facets of the tightly controlled boron industry. To date, Erin has entered into Letters of Intent with three such potential partners.
About Erin Ventures Inc.
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol EV. For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
On behalf of the Board of Directors,
Blake Fallis, General Manager
For further information, please contact:
Erin Ventures Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or
1-888-289-3746
www.erinventures.com
Erin's Public Quotations
Canada
TSX V: EV
USA
SEC 12G3-2(B) #82-4432
OTCBB: ERVFF
Europe
Berlin: EKV
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.
To view this press release as a webpage please click on the following link:
http://www.usetdas.com/pr/erinventuresjan282013.htm
Source: Erin Ventures Inc. (EV - TSX-V) http://www.erinventures.com
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