VICTORIA, BC / ACCESSWIRE / May 11, 2020 / Erin Ventures Inc. (TSXV:EV) reports that it is preparing to re-deploy its Serbian-based technical staff to its Piskanja boron property to complete the balance of the field work required as part of the "Elaborate of Reserves" documentation (the first step in the exploitation license process), in light of the decision by the Serbian government to cancel the nationwide lockdown which was introduced in an attempt to mitigate the coronavirus outbreak. Erin is ensuring that its staff has adequate personal protective gear and adheres to social distancing guidelines when returning to field work.
Erin does not anticipate any material delay from its original timelines regarding the completion of the field work and the requisite documentation.
Piskanja is Erin's wholly owned, high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 per cent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 per cent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards).
During the lockdown, Erin's technical staff continued to work remotely, preparing certain documentation which is required as part of the "Elaborate of Reserves" process, in addition to documentation required for the filing of Erin's annual government progress report, due for submission on the 20th of September (required to extend the Piskanja Boron Project license).
Erin is developing the Piskanja Project in a manner which ensures its continued compliance with Serbian mine licensing and mine development regulations, as well as standards expected by potential strategic partners and investors.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures Inc.
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.
Erin's Public Quotations:
The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a director of the company, 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.
There can be no assurance given that Erin will be successful in receiving the requisite approvals required in order to be granted an exploitation license.
Forward Looking Statements:
This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. 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, as well as those factors discussed in the section entitled "Risks of the Business" in the Company's most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. 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.