Carolina Phase 1 Drill Results

Aug 13, 2007

Erin Ventures Inc. (TSX-Venture: EV) announces assay results from completion of its Phase 1 diamond drilling program at the Company’s Deep River Gold Project in North Carolina. All of the 12 holes contained anomalous Au mineralization throughout the holes within altered and deformed porphyritic instrusions. Drilling to date has not defined limits to mineralization or alteration in any direction including depth. The pervasive gold mineralization, presence of porphyritic rocks and the style of alteration all indicate a large porphyry gold target. The distribution and consistency of the mineralization is typical of a large gold-copper-molybdenum porphyry system. 

Twelve vertical HQ core holes totaling 1,817 metres were drilled to test a 488 metre by 488 metre (125 hectare) zone within an area of highly anomalous Au, Cu, and Mo values in soils (“Southern Anomaly B”).  The “Southern Anomaly B” is one of several known intrusions within the 40 square kilometre alteration area associated with the Deep River porphyry system. The holes ranged in depth from 92 metres to 236 metres with an average depth of 151.5 metres.  Core recovery for all twelve holes was greater than 98 percent. 

All twelve holes encountered consistent mineralization averaging from 0.152 to 0.496 gm/ton Au and 244 to 658 ppm Cu to an average depth of 65 metres.  Molybdenum mineralization is anomalous and values are up to 245 ppm.  High values for individual samples include 5 gm/ ton Au, 2030 ppm Cu, 245 ppm Mo and 1900 ppm Zn.  The weighted average for all holes from the surface down to 65 metres is 0.3 gm/ton Au, 411 ppm Cu and 35 ppm Mo. Only 3 samples of 1196 sample intervals were below detection for gold. The depth of oxidation averages 16 metres with a minimum depth of 3 metres and a maximum depth of 27 metres. Several holes bottomed in highly anomalous mineralization up to 0.76 gm/ton Au.  

 * Rounded to nearest full metre

Industry standard procedures for sampling and QA/QC were followed.  The core was sawed in half with one half sampled on a 1.5 metre (5 foot) intervals.  The other half is retained for logging and future reference. A qualified geologist supervised all core cutting, sampling, and packing for shipment. Samples were packed and sealed in wooden boxes and shipped to ALS Chemex in Sparks, Nevada via UPS Freight.  Gold analyses were performed by fire assay-AA finish (ALS Chemex method Au-AA23).  A 48-element four acid digestion method and analysis (ALS Chemex method ME-MS61) was also run on all samples for multi-element data.  Blind controls of known standards and blanks were inserted into each batch of samples submitted.  These blind controls comprise 7.5% of the total samples submitted.  Additional QA/QC assaying is in progress with samples also being sent to a second independent lab.

Currently all holes are being relogged in detail for interpretation and data entry into logging and modeling software is in progress.  This evaluation will assist in drill hole selection for the next phase of drilling.

The completion of this phase of exploration fulfills Erin’s contractual obligation such that Erin has now acquired a 100% interest in this project from Triangle Minerals Inc.

ABOUT DEEP RIVER

Deep River contains gold-copper-molybdenum mineralization that is associated with altered porphyry intrusions and surrounding volcanic rocks and sediments. This high-level porphyry gold style mineralization in the Carolina Slate Belt is considered to have the potential for significant economic value and possible future mine development.  The anomalous soil gold values found at Deep River are analogous to those encountered during the initial geochemical surveys at the two-million ounce Ridgeway gold mine in South Carolina discovered, developed and mined by Kennecott (Rio Tinto) in the late 1980’s.  

The alteration associated with this porphyry system forms an elliptical shape elongated in a northwesterly direction and covers an area of approximately 8 km by 5 km. Within this system, the known soil gold anomaly (+ 50 ppb) has dimensions of approximately 3 km by 1 km with gold values up to 3.5 g/t.  The broad alteration pattern may indicate the sub-surface existence of a larger intrusive system that has not been drill tested.  An airborne magnetic survey shows that the “Southern Anomaly B” is situated on the southeast flank of a large magnetic low, indicating that the system may be significantly larger than exposed. 

Results from rock sampling of the limited outcrop in the prospect area range up to 3.1 g/t gold, 0.2% copper, 0.13% molybdenum and 0.74% lead. Rock samples taken outside of the original soil grid reported 2.5 g/t and 0.6 g/t gold, indicating good potential to expand the overall dimensions of the mineralized zone.

On behalf of the Board of Directors of Erin Ventures, Inc.,

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