Mill Bay Ventures Inc.
TSX VENTURE : MBV
PINK SHEETS : MLBVF
FRANKFURT : M4K

Mill Bay Ventures Inc.

July 09, 2007 12:04 ET

Mill Bay Ventures Inc.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2007) - Mill Bay Ventures Inc. (the "Company") (TSX VENTURE:MBV)(PINK SHEETS:MLBVF)(FRANKFURT:M4K) announces that it has entered into an option agreement to acquire 119 mining claims located in Lander County, Nevada, known as the AC Gold Property, covering up to about 2 square miles, more or less, in consideration of paying US$1,500,000 in instalments to the optionor and incurring US$1,500,000 in exploration work on the property over the next 15 years as follows:



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Due Advance Minimum Expenditure Commitments
Date Royalty Payments on the Property
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Upon signing $ 5,000 Nil
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First Anniversary of
Approval Date $ 15,000 $ 10,000
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Second Anniversary of
Approval Date $ 25,000 $ 25,000
----------------------------------------------------------------------
Third Anniversary of
Approval Date $ 40,000 $ 50,000
----------------------------------------------------------------------
Fourth Anniversary of
Approval Date $ 50,000 $ 100,000
----------------------------------------------------------------------
Fifth Anniversary of
Approval Date $ 60,000 $ 100,000
----------------------------------------------------------------------
Sixth Anniversary of
Approval Date $ 60,000 $ 250,000
----------------------------------------------------------------------
Seventh Anniversary of
Approval Date $ 70,000 $ 250,000
----------------------------------------------------------------------
Eighth Anniversary of
Approval Date $ 70,000 $ 240,000
----------------------------------------------------------------------
Ninth Anniversary of
Approval Date $ 80,000 $ 50,000
----------------------------------------------------------------------
Tenth Anniversary of
Approval Date $ 90,000 $ 50,000
----------------------------------------------------------------------
Eleventh Anniversary of
Approval Date $ 100,000 $ 50,000
----------------------------------------------------------------------
Twelfth Anniversary of
Approval Date $ 100,000 $ 50,000
----------------------------------------------------------------------
Thirteenth Anniversary of
Approval Date $ 100,000 $ 50,000
----------------------------------------------------------------------
Fourteenth Anniversary of
Approval Date $ 100,000 $ 50,000
----------------------------------------------------------------------
Fifteenth Anniversary of
Approval Date $ 535,000 $ 175,000
----------------------------------------------------------------------
Total $1,500,000 $1,500,000
----------------------------------------------------------------------


The Company has also granted to the optionor a 3% net smelter returns royalty, of which the Company has the option to buy-down one-third (i.e. 1%) at any time for the payment of US$1,000,000.

The transaction is subject to the acceptance for filing by the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

William Glasier, President

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release.

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