El Nino Ventures Inc. announced that, subject to regulatory approval, the company has finalized an agreement with 743584 Ontario Inc. (Vendor), who is at arms length to the Company, to acquire 100% of 191 claims within the Lac Otelnuk Iron Ore Project by paying for the 2022 assessment (~$30,000). The Vendor retains a 2.5% royalty with buy-down provisions. The Project is located in Nunavik, Province of Quebec, in the central portion o the Labrador Trough iron range as shown in figure 1. The property is situated approximately 155km in a straight-line northwest of Schefferville and 255KM South of Kuujjuaq.

Schefferville is located approximately 1200km northeast of Montreal. The Project has previous expenditures of approximately $150 million, including 43-101 resource calculations completed in 2013 and a Feasibility Study completed on it in March of 2015. Management is completing its due diligence and working with several technical groups to form a go-forward plan.