Victoria, British Columbia (FSCwire) - Erin Ventures Inc. [TSX-V: EV] reports that its wholly owned, Serbia based subsidiary Balkan Gold, is currently in discussions with Serbian authorities regarding a potential commercial contract for the Pobrdje boron mine. The Pobrdje boron mine is licensed and operated by the Serbian state owned company Ibar Mines, and is located approximately 1.5 km from Balkan Gold’s Piskanja boron project in southern Serbia. Under the proposed terms of the agreement, Balkan Gold would provide the capital, technical expertise and management oversight required to refurbish, upgrade and operate the Pobrdje mine at a capacity of approximately 30,000 tonnes of colemanite per year until depletion. In return, Balkan Gold would have the exclusive rights to all of the colemanite produced at the mine, at a fixed price, for the life of the mine.

Cautionary note: There can be no assurance given that the proposed agreement will be successfully consummated, or that the final arrangement will not be materially different from that which is currently contemplated. However, the interested parties understand the benefit of this agreement to all of the various stakeholders involved, and are working earnestly to complete the transaction.

“If completed, this would be a significant development for Erin, aiding in the de-risking of the development of our Piskanja boron project”, said Tim Daniels, President of Erin Ventures. “The potential cash flow resulting from this agreement could contribute materially towards the capex required to construct a mine at Piskanja, thereby helping to reduce the dilution that Erin’s shareholders will be certain to suffer if Piskanja’s development is to be funded solely through outside sources. Additionally, the Pobrdje project would be an important pilot project for Erin, allowing us in the short term to develop market share, train workers, and gain technical expertise in the mining and processing of boron, all of which are significant benefits that could then be applied to the future development and operation of our Piskanja project.”

Erin will release further information on this matter if, as, and when a binding agreement has been signed.

On behalf of the Board of Directors,

Blake Fallis, General Manager

About Erin Ventures Inc.

Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.

Piskanja is Erin’s wholly owned high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 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 (CIM Standards).

The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a director of the company, who is a Qualified Person under National Instrument 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements:

This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words "believe," "expect," “feel,” "plan," "anticipate," “project,” “could,” “should” and other similar expressions generally identify forward-looking statements.  Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled "Risks of the Business" in the Company's most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and other factors made in public disclosures and filings by the Company should be considered carefully.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.

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