El Niño Ventures Inc. {TSX.V: ELN} and African Investments Ltd. announce a termination of their agreement by mutual consent.

The long running saga involving El Niño’s DRC assets at Kasala continues, a solution seems as far away as ever.

Comment

This seemingly interminable dispute between EL Niño and their former partner in the DRC, GCP Group,  continues to drag on.

El Niño, having won in the courts in the DRC, and then again in Canada when, GCP Group appealed the decision there, are now facing futrther actions,  it is quite incredible that this legal dispute is still dragging on.

Quite how much longer El Niño can continue to fund the legal dispute must be a key question now. Maybe GCP have deeper pockets and are prepared to wait in the hope ELN won’t be baleto continue financing, and take it back by default?

News release

El Niño Ventures Inc. and MMG Africa Investments Limited, (“MMG”) have mutually agreed to terminate the option agreement under which MMG would acquire the Company’s 70% interest in the Kasala copper/cobalt permits located in the Democratic Republic of the Congo (“DRC”) due to the uncertainty of disputed legal actions initiated by GCP Group (“GCP”), a minority shareholder of Infinity Resources Sprl (“Infinity”), the Company’s Joint Venture Company.

ELN and MMG entered into an Option Agreement on 16 May 2014, whose terms required the Company to meet certain conditions precedent that would allow for MMG to begin an extensive  exploration program on the Kasala project and potentially exercise the option to acquire ELN’s 70% interest in the permits. Some conditions precedents are unfortunately incapable of being satisfied within the required time frame due to continued, questionable legal actions by GCP.

The Company would like to thank MMG and its management and legal team for its support and efforts in assisting ELN during the past year.

The Company is reviewing its position in continuing to support its endeavor to  maintain ownership in the Kasala properties on its own or by joining with a third party.

On Behalf of the Board of Directors

Harry Barr

Chairman & CEO
El Niño Ventures Inc.

Further Information: Tel: +1 604 685 1870
Email: info@elninoventures.com

or visit

www.elninoventures.com
650-555 West 12th Avenue, City Square,

West Tower,

Vancouver, B.C.,

Canada, V5Z 3X7