Erin Ventures Inc
Piskanja Borate Project, Serbia
Updated - March 2016
The technical information in this presentation was 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.
Cautionary Statement
This presentation has been prepared by Erin Ventures Inc. (“Erin”) and consists of the slides for a presentation
concerning Erin. By reviewing/attending this presentation you agree to be bound by the following conditions.
Forward-Looking Statements
This presentation includes forward-looking statements. All statements other than statements of historical facts included
in this presentation including, without limitation, those regarding Erin’s financial position, business strategy, plans and
objectives of management for future operations (including development plans and objectives relating to Erin’s
products, production forecasts and reserve and resource positions), are forward-looking statements. Forward-looking
statements can generally be identified by terms such as “expect”, “intend”, “plan” , “objective” and other terms
indicating a future intention or expectation. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of Erin, or industry
results, to be materially different from any future results, performance or achievements expressed or implied by such
forward looking statements. Such forward-looking statements are based on numerous assumptions regarding Erin’s
present and future business strategies and the environment in which Erin will operate in the future. Among the
important factors that could cause Erin’s actual results, performance or achievements to differ materially from those in
the forward-looking statements include, among others, actual amounts of recoverable resources, levels of actual
production during any period, levels of demand and market prices, the ability to produce and transport products
profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems,
political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by
governmental authorities such as changes in taxation or regulation including environmental and such other risk factors
identified in Erin's most recent MD&A. Forward-looking statements should, therefore, be construed in light of such risk
factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements
speak only as of the date of this presentation.
Information contained in this document is for informational purposes only, is subject to change, and does not
constitute an offer or solicitation.
Erin Ventures Inc.
Piskanja boron project highlights

High-grade boron deposit

Projected long life (20+ years), low cost mining operation

100% owned by Erin

Project advancing towards Feasibility Study

The deposit remains unbounded in two directions (good
potential for resource expansion)
Erin Ventures Inc.
Piskanja boron project highlights


Exclusive license covering 35 km2
Potential to find additional deposits in remainder of the licensed
area, with positive results to date

Located in a historical mining region of Serbia with existing
mining infrastructure including good paved roads, rail, power,
ports, experienced miners, etc.

Erin is actively developing several strategic partnerships
Erin Ventures Inc.
Mineral Resource Estimate (NI43-101 compliant)
Mineral Resource
Category
Indicated
Inferred
Tonnage,
Mt
7.8
B2O3
Grade, %
31.0
Contained
B2O3, Mt
2.4
3.4
28.6
1.0
*Source: NI43-101 compliant Technical Report And Preliminary Economic Assessment (PEA) For The Piskanja
Borate Project, Serbia – SRK Consulting (UK) Ltd., 1- 9-2014. The Technical Report is available at:
http://www.erinventures.com/pdf/U6467_Piskanja_MRE_2016_Final_Report.pdf
MRE cautionary statement:
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The
quantity and grade of reported Indicated and Inferred Mineral Resources in this estimation are
uncertain in nature. There has been insufficient exploration to report these Mineral Resources in the
Measured category and it is uncertain if further exploration will result in upgrading a part of these to
this category in due course or if further technical work will enable them to reported as Mineral
Reserves.
Development Plans
OBJECTIVE:
Rapidly develop the Piskanja deposit
APPROACH:
cost effective
international standards
of ore reserves
smart mine planning
and development
apply environmental
and safety standards
minimize the social and
environmental issues.
Erin Ventures Inc.
The next phase of work comprises further data collection, inclusive of drilling and
metallurgical testwork, followed by a feasibility study. This work is anticipated to
take 12 months to complete.
Item
USD 000
Exploration/Resource Drilling
500
Bulk Sampling/Metallurgical Testwork
800
Decline Drilling
450
Environmental Studies
150
Geotechnical Testwork
60
Hydrological and Hydrogeological Analysis
150
Feasibility Study
550
Office Costs
540
Contingency
300
Total
3,500
Timelines for Piskanja development
after receipt of exploitation license
Feasibility Study
Month 1
Development drilling
Mine planning
Driving decline & development mining
Order mining & benefitation equipment
Construction & installation of services
Production
Month 24
About boron
Uses
Boron Market
Supply/Demand
Pricing
Scarcity
Marketing Strategy
Uses for boron
Used in hundreds of products that shape modern life, with new
applications developed regularly.
Primary use is in the manufacture of fiberglass insulation, textile
fiberglass, borosilicate glass (LCD screens, solar panels and more),
ceramic glazes and porcelain enamels (64% of borate consumption)
Detergents, fire retardants, metallurgy, agriculture, insecticides, wood
preservatives and many specialty products account for most of the
remainder of consumption
Uses for boron
World Boron Consumption by End-Use in 2014
Source: Eti Mine
Borates are safe. Used for centuries, borates pose no risk to people, animals or
the environment under normal handling and use. Second, they’re versatile. In
many applications, there is simply no substitute for borates.
Boron Market Characteristics
 Boron market is valued at US$2.4B per year (2015)
 An oligopoly with a small group of producers and two major
producers controlling 83% of the market
 Global consumption is currently matching production with
growth in demand outpacing production growth (Source:
RTM)
 A lack of competition in supply helps to keep prices stable
 Economic deposits of borates are extremely rare
Supply/demand of boron
World production reached 2.4 million tons B2O3 (>5 million tons
mine run) in 2015 and is growing at a controlled pace (Source: RTM)
China is the largest consumer of boron, where consumption has
risen by 15% per year from 2000 to 2010 and is currently growing at
their GDP growth rate of 7% (Source: US Geological Survey). The US
market is the second largest, growing at a rate in excess of GDP
growth, driven by housing recovery.
Erin Ventures Inc.
Global demand for borates will grow
at a CAGR of 5% over the next 5 years
Over the next decade, the industry will need increased
capacity that is equivalent to another 1.5 Boron-sized
operations (Rio Tinto’s California mine) to meet demand.
(Source: Rio Tinto)
Current Suppliers of Borates
Source: Rio Tinto
An oligopoly exists with 2 dominate players supplying 83%
of the market. This keeps prices stable and growing.
Erin Ventures Inc.
Boron prices
Borate Prices
Source: IM Industrial Minerals
$1,400
$1,200
$800
$600
Price range
$400
boric acid high
boric acid low
colemanite high
$200
Sep-15
Jun-15
Mar-15
Dec-14
Sep-14
Jun-14
Mar-14
Dec-13
Sep-13
Jun-13
Mar-13
Dec-12
Sep-12
Jun-12
Mar-12
Dec-11
Sep-11
Jun-11
Mar-11
Dec-10
Sep-10
Jun-10
Mar-10
Dec-09
Sep-09
colemanite low
Jun-09
US Dollars
$1,000
Erin Ventures Inc.
Scarcity of borates

Economic borate occurrences are very rare, 2 regions are
currently supplying +80% of world production today (Rio Tinto’s
US Borax in California, and Eti Mine in Turkey)

The majority of other producers are from high-cost, low-grade
deposits in South America
European Commission Press Release – 26.5.2014
20 critical raw materials - major challenge for EU industry
“The European Commission’s 2014 list of Critical Raw Materials
includes borates. The list should help to incentivise the European
production of critical raw materials and facilitate the launching of
new mining and recycling activities.”
Market penetration strategy

Erin’s planned production: 200,000 t/yr, which is a market
penetration of < 5%

Room exists in the market for additional high quality
producers, especially in competition with the inferior
producers from South America (who have a 20% market
share today)

Erin’s competitive advantages include: large deposit; high
quality, low arsenic; good proximity to markets; excellent
infrastructure; relationships with industry leaders; ability to
add value by creating specialty products
Market penetration strategy

Colemanite market – only 1 current world supplier (Eti
Mine). Buyers welcome an additional supplier

Our colemanite has much lower arsenic content that that
from Turkey, which is a growing concern for most countries

Strategic relationships with leading boron industry
participants who provide us with ready market share,
value-add product expertise, marketing capabilities, etc

The market is growing faster than production
Erin Ventures Inc.
About Serbia

Serbia has formally entered the process for EU membership

The government has committed to stimulating and encouraging
foreign investments within the mining industry. Their stated aim:
“to increase the mining industry’s contribution to GDP from its
current 2% to 5% by 2020 and that Serbia becomes the leader in
the mining industry in southeast Europe”

No restrictions on foreign ownership

15% corporate tax rate and 5% NSR

10 year tax holiday available (Erin will qualify)

Canada and Serbia have signed a Foreign Investment Protection
Agreement to ensure a more secure business environment for
Canadian companies in Serbia
Additional data
Geological data:
Regional geology
Lithology
Piskanja deposit geology
Mineralization zones
Exploration history
General information:
Local community
Access
Infrastructure
Erin Ventures Inc.
Jarandol basin regional position
220 km south of Belgrade
Long: 20.663 E
Lat.: 43.375 N
Jarandol basin – general features
Structural basin of
Miocene age
Sediments deposited in
a lake setting
Presumably structurally
active throughout its
existence
Concession area Piskanja – Erin Ventures Inc.
35 km sq
Jarandol basin – borates distribution & resource
Piskanja deposit
two primary beds about 90m vertical
separation
the upper bed thickness: 3 -14m
(starts at a depth of 120m)
Pobrdje deposit
3 km to the west of Piskanja
small, two-bed resource
the lower bed thickness 1.5 - 6m
(starts at a depth of 210m)
Jarandol cross section - lithology
Basement: Pz/Mz serpentinites and dolomites
Neogene: tectonic shallow lacustrine basin was formed, followed by
deposition
Miocene: outpourings of andesitic lava flows, breccias and
agglomerates affected the sedimentation; solutions borates were
precipitated from HT
Result: claystone mixed with tuffaceous and calcareous sediments, coal
seams and magnesite and borate beds and lenses.
Piskanja borate deposit geology
Borates are
inter-bedded within
volcano-sedimentary
lacustrine series of clasticcarbonaceous-tuffaceous
sediments, tuffs, volcanics
and inter-series breccias.
Sedimentary series
extends in NNE - SSW
direction and dips toward
E - SE at an angle of
about 30°.
source: RIO TINTO
General view of the mineralisation zones of Piskanja (Leapfrog, view along the azimuth 143, dip 31)
Exploration history
Yugoslavian Geo Survey
1967
the presence of boron mineral first detected
1979
first geochemical investigation of boron dissemination conducted
1987
colemanite first noted in structural borehole
1987 – 1992
21 boreholes; total 6,508 m - partial delineation of the deposit
Erin Ventures Inc.
1997
10 boreholes; total 2,823 m - further delineation of the deposit
Rio Tinto
2006 - 2009
5 boreholes; total 2,415.5 m - twinning of historic drill holes
9 boreholes; total 3,552.5 m - drilling outside of the known deposit
Erin Ventures Inc.
2011 -2012
37 boreholes; total 13,569 m - within mineralized area on a 100m x 100m grid
2013 -2015
11 - 50m X 50m boreholes; MRE and PEA completed
Piskanja deposit promising
• positive exploration results
• possibility of increasing resource
• well located for shipping the minerals to
destinations by road, rail and water
• good infrastructure
• work force trained in underground
mining
colemanite
“the Piskanja Project and the western part of
Jarandol Basin have significant potential to host
multiple horizons of high-grade boron
mineralisation. SRK considers the Piskanja Project
to be an exploration project of merit and that
there is potential to increase the current Mineral
Resources” - SRK Exploration 1.12.16
General information - local community
Adjacent to the small town
of Baljevac (3000 inhabitants)
Strong mining tradition and
culture (coal mine)
Borates perceived as the
future of local mining
Region of strategic
importance to
Serbian Government
General information - access
Highway access from
Belgrade to property
Transportation on standard
gauge rail serving Greece
(south), the Danube at
Belgrade (north) and the
Adriatic (south west)
Good paved local roads
Well located for shipping
the ore to destinations by
road, rail and boat
General information - infrastructure
3-phase power
generation and
independent sourcing of
energy available onsite
Good accommodations;
adequate
communication (phone,
internet); supplies and
services available
Summary & conclusions

Valuable and scarce mineral with growing uses and
demand

Good potential to expand resource size

Good mining infrastructure in place

Competitive advantages exist for Erin

Very small current market capitalization ($15 M)
Board of Directors
Tim Daniels, B Comm. (Finance) has a decade of experience in sales, management and
corp. finance with Canadian based brokerage firms. He has raised many tens of millions
of dollars and assisted companies in their IPO process. He has 20 years experience in the
areas of management, financing, strategic planning, business development, and
corporate finance of natural resource companies, and has been president of Erin since
1996.
James Wallis, M.Sc. (Eng), P. Eng. has 40 years of experience in all phases of mineral
exploration and mine development. He has held senior mine management and
consulting positions throughout the world with companies such as Noranda, Kerr
Addison, U.S. Borax, and Amax. Jim lead a team at The Allan Potash Mine key to the
development of the mine - from shaft sinking to the design and selection of
underground mining equipment for a large-scale trackless mining operation.
Additionally, he spent time at U.S. Borax operations evaluating the economics of their
mining operations, while gaining experience in boron production.
Dr. Dragoljub Jujic, M. Eng., has over 35 years experience in mining, engineering and
research. Dr. Jujic previously served as the Director of the Yugoslavian National Mining
Institute for 8 years. He also served as General Manager for the Tomasica and Mokra
Gora iron ore mines, Chief Engineer on several projects, and consulted to mining
companies located in Central Europe, Asia and Africa.
Dr. Vladan Milosevic, PhD Eng. Since 1997, Vladan has held the position of
Department Chief for Mineral Processing, at the "Institute for Technology of Nuclear
and Other Mineral Raw Materials“ in Belgrade, Serbia. He has successfully served as
Project Manager on numerous commercial mining projects in Serbia including: the
reconstruction of the Veliki Krivelj Floatation Plant to increase capacity to 10,000,000
tonnes of ore per year; increasing the copper recovery from the Cerovo, Cementacija
1- South deposit; and processing optimization of the Majdanpek Copper Mine.
Key Management
Dusan Podunavac, B.Sc P.Geo. Dusan served as Senior Geologist and Technical
Director of the Geological Institute of Serbia for 23 years. His expertise and duties at
the Institute included: management of the engineering divisions within the Institute,
with supervision of 250 staff members; mining feasibility studies; cash flow analysis;
international project-specific financing; mine planning, construction and remediation
supervision; environmental engineering; and, evaluation of mining operations,
companies and policies on behalf of governments. Dusan now serves as Project
Manager for the development of Erin’s Piskanja project.
Erin Ventures Inc
Quick facts:
Symbol: EV TSX-V
OTCBB: ERVFF
Berlin Stock Exchange: EKV
Shares outstanding: 280 Million
Year High Low $0.09 - .04
For further information:
Website:
Email:
Tel:
Toll free:
Fax:
www.erinventures.com
[email protected]
(1) 250 384 1999
(1) 888 289 3746
(1) 250 384 6761
645 Fort Street, Suite 203
Victoria BC V8W 1G2
CANADA