Erin unit wins exclusive Serbian licence
Ticker Symbol: C:EV -- Erin Ventures Inc
Shares Issued 96,843,676
Last Close 11/27/2009 $0.075
Monday November 30 2009 - News Release
Mr. Blake Fallis reports
SERBIA GRANTS ERIN EXPLORATION LICENSE FOR GOLD PROPERTY
Erin Ventures Inc.'s wholly owned subsidiary, Balkan Gold, has received an exclusive exploration licence, from the Serbian Ministry of Mining, for the Volujski Kljuc (VK) alluvial gold deposit in Serbia.
This license results directly from the ongoing discussions between Erin and the Serb government regarding the settlement of a dispute between Erin and a previous Serbian government, who granted a concession to exploit the Piskanja boron deposits to a third party, in spite of direct knowledge of Erin's contractual rights to these deposits (as previously reported by Erin in its news release dated June 22, 2009). Erin submitted a proposal to the Minister of Mining that included several mining projects in Serbia that Erin may have an interest in pursuing including, but not limited to, the Piskanja boron property. The VK gold deposit is among the projects of interest to Erin that was submitted to the government. Meetings between Erin and the Serb authorities are scheduled over the next several days to continue discussions on the possible reinstatement of Erin's rights to Piskanja, and other projects that Erin is interested in developing.
The VK exploration license covers approximately 24.4 square kilometres, and can be converted to an exploitation license exclusively by Erin on completion of Erin's exploration program. Planning is currently underway, with exploration targeted to commence in the first quarter of 2010. The exploration program will consist of both drilling and bulk sampling to confirm the accuracy of previous drill results and to define the physical parameters required for mechanical mining of the deposit.
"Examination of the drill data for the Volujski Kljuc deposit clearly shows that it is a massive low grade alluvial gold deposit that includes a higher grade zone that should be mineable. In all, only 2 square kilometres area of VK has been explored to date" commented Jim Wallis, chief mining engineer for Erin.
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.
� 2009 Canjex Publishing Ltd.
