VICTORIA, BC / ACCESSWIRE / January 18, 2023 / Erin Ventures Inc. ("Erin") (TSXV:EV), an international mineral exploration and development company, is pleased to report that the process to generate a Feasibility Study which conforms to Serbian mining laws has recently commenced for its Piskanja Boron Project. Review and approval of the Feasibility Study by the Serbian Mining Ministry is the final requisite in the mineral exploitation licensing approval process.
A Serbian compliant feasibility study is of similar scope, scale and confidence level as a CIM compliant pre-feasibility study. The Piskanja Feasibility Study will define the optimal development scenario for an underground mine, product beneficiation circuits, plant site, infrastructure, environmental safety, and a closure plan. The study will include a thorough analysis of all aspects of the project, and will incorporate data from several extensive, external studies, including Erin's recently completed Geological Elaborate. The study will be compiled by an independent, and highly reputable engineering group located in Serbia, and is expected to take 6 months to complete.
Tim Daniels, President of Erin added, "We are very pleased to be underway with the process to rigorously evaluate the development plan of our Piskanja Project. Obviously, the completion and approval of a Feasibility Study will be a pivotal milestone in the advancement of Piskanja towards a going-concern mining project".
About Piskanja Boron Project
Piskanja is Erin's wholly owned boron deposit with a Measured Mineral Resource of 1.39 million tonnes (averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48 million tonnes (averaging 34.05% B2O3), and an Inferred Mineral Resource of 284.7 thousand tonnes (averaging 39.59% B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in Erin's report titled, "Technical Report and Preliminary Economic Assessment For The Piskanja Borate Project, Serbia, June 24, 2022". The responsible person for the PEA and the Mineral Resource Estimate contained within, is Prof. Miodrag Banješević PhD. P.Geo, EurGeol, a Qualified Person in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards), and independent of Erin Ventures.
On behalf of the Board of Directors,
About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. 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.
For further information, please contact:
Erin Ventures Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
645 Fort Street, Suite 203
Victoria BC V8W1G2
Erin's Public Quotations:
Berlin Stock Exchange:EKV
James Wallis, M.Sc. (Eng), P. Eng., a Director of Erin Ventures, and Nenad Rakic, EurGeol, Piskanja Project Field Manager, are qualified persons as defined by NI 43-101, have reviewed the technical information that forms the basis for this news release, and have approved the disclosure herein.
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.
For Erin Ventures Inc. Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements that involve substantial known and unknown risks and uncertainties. This press release contains express or implied forward-looking statements relating to, among other things, Erin Ventures' expectations concerning management's plans, objectives and strategies, including its plans for advancing the Company's Piskanja Project through to an exploitation license. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry.
Erin Ventures Inc. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Erin Ventures with the securities regulatory authorities, available at www.sedar.com. These and other factors made in public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.
SOURCE: Erin Ventures Inc.