Mr. Blake Fallis of Erin Ventures reports
ERIN VENTURES AND TEMAS RESOURCES READY AGREEMENT FOR THE JOINT DEVELOPMENT OF ERIN'S PISKANJA BORON PROJECT
Further to the news release dated Dec. 17, 2020, in which Erin stated that it had entered into a letter of intent with Temas Resources Corp. for the joint development of Erin's Piskanja borate project, the parties have recently concluded their due diligence process with a favourable outcome, and are now working to complete a definitive, binding agreement based on the terms in the LOI. It is anticipated that the definitive agreement will be completed imminently.
Piskanja is Erin's wholly owned boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31.0 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, as disclosed in Erin's report titled, "Mineral Resource Estimate Update On The Piskanja Borate Project, Serbia, October, 2016 -- Amended Feb. 28, 2019," prepared by SRK Consulting (U.K.) Ltd. The responsible persons for the updated MRE are Dr. Mike Armitage (CEng, CGeol) and Dr. Mikhail Tsypukov, who are both full-time employees of SRK and qualified persons in accordance with the CIM Definition Standards on Mineral Resources and Reserves, and independent of Erin Ventures.
About Temas Resources Corp.
Temas Resources is a mineral exploration company focused on the environmentally friendly acquisition, exploration and development of iron, titanium and vanadium properties in a socially responsible manner. Temas Resources has focused its efforts on advancing two major projects in the Grenville geological province area. The first, the DAB property, is an option for a 100-per-cent interest consisting of 128 contiguous mineral claims, which cover 6,813.72 hectares (68.14 square kilometres) within the Grenville geological province. The flagship La Blache property with 100-per-cent ownership consists of 48 semi-contiguous mineral claims, which cover 2,653.25 hectares (26.53 square kilometres) within the Grenville geological province. All public filings for the company can be found on the SEDAR website.
About Erin Ventures Inc.
Erin is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin has shares that are traded on the TSX Venture Exchange under the symbol EV.
The technical information in this release was prepared and approved by James E. Wallis, MSc (eng), PEng, a director of the company, who is a qualified person under National Instrument 43-101.
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