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El Ni?o Ventures Inc. Proceeding with $1,500,000 Non-Brokered Private Placement

Thursday, February 2, 2012 4:15 PM


TSX.V: ELN
FSE: E7Q
OTCQX: ELNOF

VANCOUVER, Feb. 2, 2012 /CNW/ - El Niño Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q; OTCQX: ELNOF) announces that further to its news release dated November 21, 2011, the Company will be proceeding with its non-brokered flow-through and non flow-through private placement of up to 10,000,000 units for gross proceeds up to $1,500,000.

Each non flow-through unit ("NFT Unit") at a price of $0.13 per NFT Unit will consist of one common share and one-half of one non-transferable share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one common share of the Company at a price of $0.23 per share for 18 months from closing, subject to an accelerated expiry, such expiry being accelerated to 30 days in the event the Company's shares have closed at or above a price of $0.40 per share for 10 consecutive trading days on the TSX Venture Exchange.

Each flow-through unit ("FT Unit") will consist of one common flow-through share in the capital of the Company and one-half of one non flow-through share purchase warrant at a price of $0.15 per FT Unit.  Each whole warrant will entitle the holder thereof to purchase one additional non flow-through common share of the Company at $0.25 for a period of 18 months from closing subject to an accelerated expiry, such expiry being accelerated to 30 days in the event the Company's shares have closed at or above a price of $0.40 per share for 10 consecutive trading days on the TSX Venture Exchange.

The proceeds of this private placement will be used to fund the 2012 exploration budget at the Murray Brook Polymetallic project in Bathurst, New Brunswick and general working capital.

The Company may pay finder's fees in connection with this private placement as permitted by applicable securities laws and the TSX Venture Exchange.  All of the securities to be issued by the Company in connection with this private placement will be subject to a hold period which expires four months and a day after the closing date.

The closing of the private placement is subject to approval from the TSX Venture Exchange.

About El Niño Ventures Inc.:

El Niño Ventures Inc. is an international exploration company, focused on exploring for lead, zinc, copper, gold and silver in New Brunswick, Canada and copper in the Democratic Republic of Congo ("DRC").

Murray Brook Project
In January 2011, ELN announced that it has provided notice to Votorantim Metals Canada Inc.
(Votorantim) to enter into a Participation Agreement on the Murray Brook Massive Sulphide Polymetallic deposit situated in the Bathurst Mining Camp in New Brunswick, Canada.


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