MPAC Industries Corporation
TSX VENTURE : MPN

MPAC Industries Corporation

October 25, 2007 01:18 ET

MPAC Industries Corporation: Corporate Update and Project Status at Soma Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2007) - MPAC Industries Corp. (the "Company" or "MPAC") (TSX VENTURE:MPN) is pleased to advise its shareholders and the investment community of the following activities concerning the Soma coal mine (the "Coal Mine").

The Company has now entered into a binding lease agreement for the leased site (the "Leased Site") in Soma as referred to in its News Release of October 22, 2007.

MPAC has been informed that the "FOB Ankara" delivery date of the crushing equipment being manufactured for the Company is slated for October 26, 2007. There are four (4) trucks required for the delivery of this equipment from Ankara to the Leased Site. Arrangements are being made for the transfer of this equipment. Concurrently with the shipment of the coal crushing equipment, the balance of the equipment currently in storage in Soma (including the coal-refining component), is expected to be transferred to the Leased Site within the next two (2) weeks in anticipation of its installation.

The foundation enhancements required at the Leased Site are anticipated to be completed within the next two (2) weeks, allowing for adequate time for the concrete to cure and the heavy equipment to be installed. The minor electrical and water upgrades will be completed within the same timeframe.

Senior management and, if appropriate, a consultant from Canada are now preparing to travel to Turkey to perform the final inspections of all installations, foundations, and ancillary equipment, and will attend the initial start-up of the coal refining plant.

According to the Company's Start Up Business Plan, full commercial production at the Leased Site continues to be expected to ramp-up from late November of 2007, attaining targeted minimum daily and monthly tonnages by the end of December of 2007 or soon thereafter.

This news release contains forward-looking statements, which are based on MPAC Industries' current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. The forward-looking statements are not guarantees of future performances and undue reliance should not be placed on them. Actual results may differ materially as a result of any number of factors and uncertainties, many of which factors are beyond the Company's control. MPAC Industries Corporation undertakes no obligation to revise any forward-looking statements except as required by applicable securities laws.

BY THE ORDER OF THE BOARD

Firoz Lakhani, President & CEO

The TSX Venture Exchange neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • MPAC Industries Corporation
    J. Richard W. Hall
    Investor Relations
    (604) 644-2244
    Website: www.mpacindustries.com