News For Erin Ventures
ERIN VENTURES INC.
PRESS RELEASE-FOR IMMEDIATE DISSEMINATION
TSX Venture Exchange Stock Symbol: EV
SEC 12G3-2(B) #82-4432
Yugoslavian Boron Project Update
June 25, 2002
Members of Erin Ventures’ management have recently returned from Serbia, where they participated in a series of successful meetings and discussions. The purpose of this trip was: 1) to establish (and/or reestablish) relationships between Erin and key members of the Serbian Government and Parliament, regulatory agencies, Canadian Embassy staff, and local Serbian business leaders; 2) to review, in detail, proposed and enacted changes to Serbian laws and business customs, as they pertain to Erin’s mining interests; 3) to develop a greater awareness of Erin Ventures’ position, amongst the appropriate Serbian authorities; and 4) to propose a revised development plan for the boron deposits, based upon all new information and insights gathered during this trip.
As a result of these meetings, Erin Ventures formulated and submitted a revised development plan to the Serbian authorities that includes complete exploration and exploitation rights to all boron deposits within the Jarondol Basin, including but not limited to the previously explored Piskanja deposit. Additionally, this plan calls for a joint venture that includes Erin Ventures, Erin’s previously announced strategic partner, and a Serbian government appointed mining partner.
This proposed development plan has received the support and endorsement of key Serbian authorities. As well, a schedule of events and timelines for the formal approval process has been agreed upon, and will commence shortly.
Shareholders must be cautioned that while Erin has received approval in principle from key Serbian authorities for this development plan, a formal binding agreement must be completed, submitted and approved, before any recommencement of mining activities is possible.
On behalf of the Board of Directors:
Blake Fallis, Manager Corporate Development
(250) 384-1999 or 1-888-289-3746
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISSAPPROVED THE
INFORMATION CONTAINED HEREIN |
