MPH Ventures Corp.
TSX VENTURE : MPS

MPH Ventures Corp.

November 07, 2007 11:37 ET

MPH Ventures Corp.: Purchase from Rio Algom and Goldcorp of Pidgeon Molybdenum Mines Shares Closes

Non-Brokered Flow-Through Private Placement Announced

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2007) - MPH Ventures Corp. (TSX VENTURE:MPS)(the "Company") announces that further to its News Release of October 18, 2007, the Company concluded its purchase of all common shares of Pidgeon Molybdenum Mines Limited ("PMML") held by Rio Algom Limited ("Rio"), a wholly owned subsidiary of BHP Billiton Ltd. and Goldcorp Inc. for the sums of $353,290.47 and $103,216.14 respectively. The Company also made a payment of $93,493.39 to Rio in respect of existing debt owed by PMML to Rio.

PMML holds a 100% interest in 210 hectares of mining claims under the name "Pidgeon Molybdenum Deposit". The Pidgeon Molybdenum Deposit is located approximately 50 kilometres east from the city of Dryden, District of Kenora, Northwestern Ontario.

Pidgeon Molybdenum Deposit Claims Map:

http://www.mphventurescorp.com/i/maps/MPS-ON-Pidgeon-area-map.gif

MPH Ventures also announces it has arranged a non-brokered private placement of up to 1,600,000 flow-through units at a price of $0.25 per unit. Each unit consists of one common flow-through share and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase a non flow-through common share of the Company at an exercise price of $0.31 per common share for a period of two years.

The Company intends to utilize the proceeds of the private placement for its Pidgeon Molybdenum Deposit project in Ontario.

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

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

JAMES G. PETTIT, President

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

Contact Information

  • MPH Ventures Corp.
    James G. Pettit
    President
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    or
    MPH Ventures Corp.
    Don Myers
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@mphventurescorp.com
    Website: www.mphventurescorp.com