Mr. Harry Barr reports

POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR MURRAY BROOK ZN-CU-PB-AG DEPOSIT, BATHURST MINING CAMP, NEW BRUNSWICK

El Nino Ventures Inc. has provided the results of a National Instrument 43-101 preliminary economic assessment (PEA) for the Murray Brook polymetallic massive sulphide deposit, New Brunswick. The results of the PEA demonstrate the potential technical and economic viability of establishing a new mine and mill complex on the Murray Brook property. The projected cash flows indicate an after-tax NPV (net present value) at a 5-per-cent discount rate of $96.4-million, an IRR (internal rate of return) of 11.4 per cent, and a payback period of 5.4 years (see attached table). An NI 43-101 technical report will be filed on SEDAR within 45 days of the date of this press release.

Harry Barr, ELN's chairman and chief executive officer commented: "The results of the PEA clearly indicate that there is an indicative basis for a mining project at Murray Brook. There is excellent potential to further enhance the projected economics of the project, through continued refinements in metal recoveries as well as the potential to augment existing resources by achieving an exploration success on the adjacent Camel Back claims. With forecasts of increased metal demand and dwindling supply, the positive PEA results for the Murray Brook project provide ELN shareholders with the potential to benefit from the predicted upward trend in zinc prices over the next few years."

Unless otherwise noted, all amounts in this press release are expressed in Canadian currency. The PEA is prepared for 100-per-cent ownership of the project revenues and expenditures. As noted below, ELN holds a 35-per-cent interest in the project. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

SUMMARY OF 2013 MURRAY BROOK PEA RESULTS

NPV (5%)             $96.4-million
NPV (7%)             $59.7-million
IRR                  11.4%        
Payback              5.4 years 
Total LOM* capital   $334.8-million

*Life of mine

The PEA was prepared by P&E Mining Consultants Inc. and the full results of the study will be disclosed in an NI 43-101 technical report within 45 days of the date of this press release. The PEA was prepared under the supervision of Eugene Puritch, PEng, of P&E Mining Consultants Inc. Mr. Puritch is an independent qualified person in accordance with NI 43-101 and has reviewed and approved the technical information in this release.

The main conclusions from the PEA follow below.

Mining and mineral processing

The life of mine production on a diluted and extracted basis for the Murray Brook potentially economic portion of the resource estimate is planned to be as displayed in the table.

MURRAY BROOK POTENTIALLY ECONOMIC PORTION OF THE RESOURCE ESTIMATE

Classification    Tonnes    Zn %   Cu %    Pb % Ag g/t Au g/t

Measured       12,075,000   2.75   0.37   0.96   38.8   0.47 
Indicated       6,635,000   1.98   0.50   0.78   36.1   0.66 
Meas. and ind. 18,710,000   2.48   0.42   0.90   37.9   0.53 
Inferred          240,000   1.18   1.46   0.41   24.7   0.39 

(1) Potentially economic portion of the mineral resource estimate 
    which is not a mineral reserve does not have demonstrated 
    economic viability. This estimate of mineral resources may be 
    materially affected by environmental, permitting, legal, 
    title, taxation, socio-political, marketing, or other relevant 
    issues.                                                                                    
(2) The quantity and grade of reported potentially economic 
    inferred resources in this estimation are uncertain in nature 
    and there has been insufficient exploration to define them as 
    an indicated or measured potentially minable mineral resource, 
    and it is uncertain if further exploration will result in 
    upgrading them to an indicated or measured potentially economic 
    mineral resource category.
(3) The potentially economic portion of the mineral resource in 
    this press release was estimated using the Canadian Institute 
    of Mining, Metallurgy and Petroleum (CIM), CIM Standards on 
    Mineral Resources and Reserves, Definitions and Guidelines 
    prepared by the CIM Standing Committee on Reserve Definitions 
    and adopted by CIM council.

The PEA assumes the start of the open pit mining operations at an average annual process plant production rate of two million tonnes per annum over a mine life of approximately 9.5 years. The envisaged mining operation is a conventional open pit. Mining operations will reach a sustained total annual material movement of 11.6 million tonnes using 11.5-cubic-metre diesel hydraulic excavators, 90-tonne haulage trucks and track-mounted diesel powered drill rigs with up to 100-millimetre diameter blastholes drilled on six-metre high benches.

The mined material will be processed at a new 6,000 tonnes per day flotation plant located on the project site. Three concentrates will be produced: 1) copper-silver; 2) lead-silver; and 3) zinc-silver. It is anticipated that the concentrates could be processed at the nearby Belledune smelter or other suitable facilities.

Site infrastructure

The project will benefit from infrastructure, services and skilled labour available in the Bathurst mining camp. The Murray Brook project site is located 60 kilometres west of the city of Bathurst and is accessible year-round from paved Provincial Highway 180 and a 6.5 km gravel access road. Project site infrastructure is anticipated to include:

• Plant site and haul roads;
• Administration buildings and assay lab;
• Mine maintenance garage, warehouse and fuel storage facilities;
• Fresh water supply and sewage treatment; and
• Lined tailings storage area.

The proposed Murray Brook project mill and mine site is ideally located on the access road to the open pit area. The proposed processing plant site is located on a ridge overlooking a valley about 100 metres below. Several lateral ridges form natural containment dikes for at least two sides of a tailings management facility. Power to the site will be supplied by a 12 km long transmission line connecting to the Caribou mine site and provincial grid.

The labour force for the construction and operation of this project is anticipated to be drawn from the Bathurst area. The labour pool in this area is highly skilled and experienced in construction projects and mining operations.

Financial assumptions and results

Total operating costs during the life of mine is illustrated in the attached table.

PROJECTION OF TOTAL OPERATING COSTS 
    DURING THE LIFE OF MINE,
     MURRAY BROOK PROJECT

Mining cost       $/t material    $2.30 
Processing cost   $/t ore        $14.25
G&A               M$/year         $2.50 

Capital costs are categorized as initial project capital and sustaining capital. Initial project capital consists primarily of mining equipment, process plant and ancillary plant construction, initial tailing storage, facility construction, an allowance for water treatment and local infrastructure. Sustaining capital consists of further additions to mining equipment during production and environmental and closure costs.

INITIAL PROJECT AND SUSTAINING CAPITAL 
   OF MURRAY BROOK PROJECT TOTAL
      (thousands of dollars)

Initial project capital       
Mine prestripping                 $8,707
Mining capital cost              $33,706
Process plant                   $104,184
Infrastructure                   $35,000
Indirects                        $44,000
Contingency                      $35,257
Total initial project capital   $260,854

Sustaining capital          
Mine                             $10,137
Process plant                     $2,100
Environmental and reclamation    $60,800
Contingency (sustaining)            $927
Total sustaining capex           $73,964
Total capital                   $334,818

Metal prices used in the PEA are based on the April 30, 2013, three-year trailing prices which are listed in the attached table.

METAL PRICES USED IN THIS STUDY

Metal prices (US$) Unit

Copper    3.70      lb 
Lead      1.00      lb 
Zinc      0.94      lb 
Gold     1,540      oz 
Silver   30.09      oz 

Exchange rate:  $1 (U.S.)
is equal to $1 (Canadian)

Project and exploration upside

Further technical studies on the Murray Brook project will focus on additional metallurgical studies designed to evaluate potential techniques of improving metal recoveries. The first step is a small pilot plant project proposal to test three to five tonnes of drill core material.

The largest impact on the potential value of the Murray Brook project is likely to be achieved by increasing the mineral resource base available for mining, thereby increasing the mine life and (or) annual mill throughput. Excellent potential exists for additional discoveries along and adjacent to the favourable geological horizon which extends from the former Restigouche mine to the west of the Murray Brook deposit deposit to Trevali's Caribou deposit 11 km to the east. An exploration success on this stretch of productive stratigraphy could significantly increase the scale of the Murray Brook project prior to development. A 2,000-metre exploration program is proposed to drill test five priority geophysical and geochemical anomalies this summer.

Qualified persons statement

The PEA was prepared under the supervision of Eugene Puritch, PEng, of P&E Mining Consultants Inc. Mr. Puritch is an independent QP in accordance with NI 43-101 and has reviewed and approved the technical information in this release. The information in this release was reviewed by Dr. William Stone, executive vice-president of exploration of ELN and a qualified person as defined by NI43-101.

About El Nino Ventures Inc. Bathurst projects

El Nino Ventures Inc. has two active projects in the Bathurst mining camp.

Murray Brook project

The Murray Brook property is located 60 km west of Bathurst and a portion of the property is underlain by the Murray Brook polymetallic massive sulphide deposit. The property is supported by excellent nearby infrastructure, including paved roads, grid electricity and communities to provide goods, services and skilled labour.

ELN and Votorantim Metals Canada Inc. (VMC, which is the operator of the joint venture project) currently own 70 per cent of the project, of which 35 per cent is held by each of the two parties. Under a purchase agreement signed by VMC on Aug. 28, 2012, with Murray Brook Minerals and Murray Brook Resources Inc., VMC acquired the right to purchase the additional 30 per cent of the Murray Brook project from the owners. The purchase agreement between VMC and the owners provides for a series of staged payments totalling $6-million over a five-year period and provides for a 0.25-per-cent net smelter returns royalty payable to the owners after one year of commercial production.

VMC provided ELN the option to purchase an additional 15 per cent in the project as required by an underlying amending agreement dated Sept. 30, 2010, between Xstrata Zinc (now Glencore Xstrata PLC), VMC and ELN (see reference to the triparty agreement immediately below). ELN did not elect to exercise the option and consequently at this time the joint venture remains at VMC 65 per cent: ELN 35 per cent.

To date, more than 28,000 metres of drilling have been completed with encouraging results. In February, 2012, NI 43-101 resource estimation was announced (see news release). The technical report is filed on SEDAR and also available on ELN's website. The new preliminary economic assessment report, PEA, will be filed on SEDAR within 45 days of the date of this press release.

Bathurst mining camp project (triparty agreement)

This project consists of an initial 4,712 claims in the triparty agreement with Xstrata Zinc (now Glencore Xstrata) and VM Canada, whereby VM Canada may incur exploration expenditures of $10-million over a period of five years to earn a 50-per-cent interest. VM Canada may further increase its interest to 70 per cent by spending an additional $10-million over two years. Drilling and further exploration activities have been planned for 2013.

Votorantim Metals Canada Inc. statement

Technical details in this news release were provided by VMC, the professional geologists of which conduct operations consistent with mineral industry best practices. VMC accepts no responsibility for this news release or any inferences made from the technical details provided herein.

We seek Safe Harbor.