MPAC Industries Corporation

MPAC Industries Corporation

July 17, 2007 09:55 ET

MPAC Industries Corp.: Signing of Definitive Agreement With Soma Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) - MPAC Industries Corp. (TSX VENTURE:MPN) (the "Company" or "MPAC") is pleased to announce that it has entered into a definitive agreement (the "Definitive Agreement") with E.E. Madencilik Dagitim Sanay Ticareti ve Pazarlama Ltd. Sti ("E&E") to refine the coal deposit at E&E's coal mine (the "Coal Mine") located at Soma in western Turkey.

The salient terms of this Definitive Agreement are in accordance with the Memorandum of Understanding entered into by the parties and articulated in the Company's News Release dated July 3, 2007.

A senior executive of the Company is currently in Turkey seeing to the finalization of the various arrangements and negotiations. The Company has already selected an appropriate site (the "Site") on the Coal Mine to locate its operation, and contracts for the Site preparation and the construction to house the plant are expected to be finalized shortly. The construction contract for the plant (which calls for the longest lead-time) and contracts for any necessary minor equipment, which have a shorter lead-time, are planned to be let in the coming weeks.

The parties to the Definitive Agreement are committed to working together diligently with the intention of having the Coal Refining process in commercial production within the next four (4) months, followed by full capacity production before the end of the year.

In addition, now that the Company has penetrated the premier area of coal mining activity in Turkey, significantly ahead of the timeline anticipated, and with the Turkish efficacy testing of the technology behind it, MPAC has opened up negotiations with other suitable coal mines in the western region of Turkey for a similar coal refining arrangement using the Company's Canadian technology. Keeping with the corporate business model, it remains MPAC's intention to concentrate its efforts in this lucrative western region of Turkey for its future expansion.

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.


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.

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