MPH Ventures Corp.
TSX VENTURE : MPS
FRANKFURT : IJA1

MPH Ventures Corp.

November 02, 2009 13:53 ET

MPH Ventures Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2009) – MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) (the "Company") announces that further to its news releases dated September 23rd and 30th 2009, and October 13th, 2009, it has closed its non-brokered private placement and issued 10,893,000 units at a price of $0.06 per unit to raise gross proceeds of $653,580. Each unit consists of one common share and one non-transferable share purchase warrant, with each warrant entitling the holder to purchase one common share at a price of $0.10 per share until October 30th, 2011.

The common shares and warrants issued under the private placement and any common shares issued pursuant to the exercise of the warrants are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring March 1, 2010.

The Company paid a 7.5% cash finder's fee of $18,495 in connection with this private placement.

MPH Ventures intends to utilize the proceeds of this private placement for the continuing development of its gold properties in the West Timmins region of northeastern Ontario and for general working capital purposes.

MPH Ventures Corp. is a gold and molybdenum exploration company focused on mineral development within Canada.

For further information on MPH Ventures Corp. (TSX VENTURE:MPS) visit the Company's web site at www.mphventurescorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Donald G. Myers
Director

This news release may contain certain "Forward-Looking Statements" that may involve a number of 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. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com .

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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