SOURCE: MPH Ventures Corp.

September 21, 2006 08:46 ET

50% Interest in Gold Project Acquired Adjacent to Aurelian's Ecuador Property

VANCOUVER, BC -- (MARKET WIRE) -- September 21, 2006 -- MPH Ventures Corp. (TSX.V: MPS) (the "Company") announces it has signed a Letter of Intent with Lateegra Gold Corp. (TSX.V: LRG) ("Lateegra") to enter into a formal Option Agreement for the acquisition by MPH Ventures of a 50% interest in Lateegra's wholly owned Halcones gold-silver project located on the Peruvian side of the Ecuador Peru border.

The Halcones project consist of approx 6,000 hectares of mineral rights adjacent to the east of Aurelian Resources Inc. (TSX.V: ARU) Ecuador property and 7.5 km east of Aurelian's recently announced Fruta Del Norte gold discovery with announced grades of 24 g/t gold over 189 metres, along with other impressive results.

Ecuador / Peru Property Area Map:

http://www.mphventurescorp.com/i/maps/MPS_Halcones_Map_Large.jpg

Lateegra has agreed to grant an option to the Company to acquire a 50% interest in the Halcones property in consideration of the MPH Ventures undertaking a work program on the property aggregating $1,500,000, issuing an aggregate of 750,000 shares to Lateegra, and paying the sum of $150,000 as set forth below;

(a) Work Commitment - Exploration expenditures as follows:

(i) $300,000 on or before September 15, 2007;

(ii) a further $500,000 on or before September 15, 2008; and

(iii) a further $700,000 on or before September 15, 2009.

(b) Share Issuance - Shall issue shares to Lateegra as follows:

(i) 250,000 common shares upon acceptance of the formal Option Agreement by the TSX Venture Exchange;

(ii) an additional 250,000 common shares on or before the first anniversary of TSX Venture Exchange acceptance of the formal Option Agreement;

(iii) an additional 250,000 common shares on or before the second anniversary of TSX Venture Exchange acceptance of the formal Option Agreement.

(c) Cash Payment - Shall pay to Lateegra as follows:

(i) $75,000 upon acceptance of the formal Option Agreement by the TSX Venture Exchange;

(ii) a further $50,000 on or before the first anniversary of TSX Venture Exchange acceptance of the formal Option Agreement; and

(iii) a further sum of $25,000 on or before the second anniversary of TSX Venture Exchange acceptance of the formal Option Agreement.

The Halcones property is subject to a 2% ("NSR") in favor of Lateegra, with MPH Ventures having the right to purchase at anytime one-half of the 2% NSR for a purchase price of $1,000,000.

The Company and Lateegra have agreed that they will diligently and in good faith negotiate a definitive Option Agreement.

MPH Ventures Corp. is a Canadian natural resource exploration company. For further information on MPH Ventures Corp. (TSX.V: MPS) visit the Company's web site at www.mphventurescorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Don Huston"

________________________________
DONALD C. HUSTON
Director

For further information contact myself or:
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@mphventurescorp.com


TSX Venture Exchange Symbol: MPS                     
Telephone: (604) 687-3376                                              
Email: info@mphventurescorp.com             
Facsimile: (604) 687-3119
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

Copyright © Hugin ASA 2006. All rights reserved.

Contact Information