SOURCE: Lateegra Gold Corp.

November 06, 2007 10:25 ET

Agreement With KTTM Geophysics to Conduct Survey on M-10 Concession, Ecuador

VANCOUVER, BC--(Marketwire - November 6, 2007) - Lateegra Gold Corp. (the "Company") (TSX-V: LRG) (FRANKFURT: LTG) has received the following update from MPH Ventures Corp. ("MPH") concerning the Company's M-10 concession located in the Pinchincha Province of Ecuador:

MPH has signed an agreement with KTTM Geophysics to conduct an IP Chargeability / Resistivity and Magnetometer survey on its M-10 concession. The 5,600 hectare property lies 50 km west of Quito, Ecuador.

The M-10 property lies within the intra oceanic island arc sequence of the Machuchi Unit approximately 5 km north, along strike of the La Plata Volcanogenic Massive Sulfide deposit, which is contained within the same north south trending stratigraphy.

The exploration activities to date have concentrated on geological mapping and sampling. The exploration work programs have identified two areas of particular interest. The "North Grid" area lies immediately south of the E-1 concession owned and operated by Avalanche Minerals Ltd. Sampling has returned rock chip and float samples in excess of 20 grams per tonne Gold as well as 0.12% Copper and 20 ppm Molybdenum.

A grid consisting of approximately 25 line kilometres is under way on the North Zone where the geophysical program will commence.

Significant gold, copper and molybdenum samples have also been taken from the central portion of the M-10 concession and a second grid also of approximately 25 line kilometres will be installed in the Central Zone to provide IP resistivity and magnetometer coverage over this area.

A map illustrating the grids and samples can be viewed at http://lateegra.com/projects/ecuador/m10/m10_grid_map.jpg.

Lateegra Gold Corp. has expanded its holdings in Ecuador and acquired a jointly owned interest in the Efyza II concession contiguous with the M-10 concession. This additional acquisition has solidified the Company's land position in this very prospective area of Ecuador.

Lateegra Gold Corp. anticipates that the current geophysical survey will identify prospective drill targets in both the North Zone and the Central Zone.

Samples are sent to either ALS-Chemex or Inspectorate del Ecuador receiving facility in Quito, Ecuador. Both companies forward pulps onto their laboratories in Lima, Peru for analysis. Assaying consists of ICP multi-element analysis with over-limit checks competed for Ag (over 100 g/t), Cu (over 1%), Mo (over 1%), Pb (over 1%) and Zn (over 1%) by Atomic Absorption (AA) spectrometry. Gold analysis was completed using fire assay technique. The quality control protocols that are in place consists of insertion of one blank at least every 20 samples and a field or lab duplicate every 20 samples. In addition, standard reference material are inserted once every 20 samples. The exploration programs in Ecuador are under the supervision of MPH Ventures Vice President of Exploration, Allen Cole.

Dale Schultz, PGeo. and Managing Director / Chief Consultant of Buscore International Consulting, has been retained by MPH Ventures to provide Qualified Person services in compliance with National Instrument 43-101.

About the Company: Lateegra Gold Corp. is an exploration and development Company with a focus on precious metals in Mexico and South America. The Company currently has interests in properties in Mexico and Ecuador including the El Condor property, located within Aurelian Resources property containing their massive Fruta del Norte discovery.

About MPH Venture Corp.: MPH Ventures Corp. is a gold, silver, copper, and molybdenum exploration company focused on mineral development within Canada and Latin America.

ON BEHALF OF THE BOARD OF DIRECTORS

"Chris Verrico"
President and CEO

THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary note: This report contains forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

Contact Information

  • Lateegra Gold Corp.
    Suite 1128 - 789 West Pender St.
    Vancouver, B.C., Canada V6C 1H2
    Tel: 604-669-9330
    Fax: 604-669-9335
    Toll Free: 1-866-669-9377
    www.lateegra.com
    email info@lateegra.com