Thanks a lot Pradeep it works! (TimeRemaining = (100- downloaded) * TimeElapsed/downloaded)
Here is what I exactly did:
Code:
    Private Sub Download_DownloadProgressChanged(ByVal sender As Object, ByVal e As System.Net.DownloadProgressChangedEventArgs) Handles Download.DownloadProgressChanged

        Dim FormulaH As Single = ((100 - ProgressBar1.Value) * Time / ProgressBar1.Value) / 3600
        Dim FormulaM As Single = ((100 - ProgressBar1.Value) * Time / ProgressBar1.Value) / 60
        Dim FormulaS As Single = (100 - ProgressBar1.Value) * Time / ProgressBar1.Value

        If ProgressBar1.Value = 0 Then
            Label6.Text = "Time Left: Estimating..."
        Else

            If FormulaS > 3599 Then
                Label6.Text = "Time Left: " & Mid(FormulaH, 1, 2) & " h and " & Mid(FormulaM, 1, 2) & " min"
            ElseIf FormulaS > 60 And FormulaS < 3600 Then
                Label6.Text = "Time Left: " & Mid(FormulaM, 1, 2) & " min and " & Mid(FormulaS, 1, 2) & " sec"
            Else
                Label6.Text = "Time Left: " & Mid(FormulaS, 1, 2) & " sec"
            End If

        End If

        ProgressBar1.Value = e.ProgressPercentage
        Label1.Text = e.ProgressPercentage & "&#37;"

    End Sub
Where "Time" is just the timer which counts seconds.

Now... the only little problem is that sometimes the estimate time will state something like:
Time left: "11 min and 65 sec"
How could I fix it with:
"Time left: 12 min and 5 sec" ?

Thanks a lot again!