MPH Ventures Corp.
TSX VENTURE : MPS
FRANKFURT : IJA1

MPH Ventures Corp.

April 28, 2008 13:01 ET

MPH Ventures Announces Phase 2 Drilling to Begin on Pidgeon Molybdenum Deposit in NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2008) - MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) (the "Company") is pleased to announce a drill rig has been secured to start the next phase of drilling on the Company's 100% owned Pidgeon Molybdenum Deposit project located at the east end of Lateral Lake near Dryden in NW Ontario. The project has an all weather logging road running through the property to the CN Railway 20 km to the north. There is also a major power line running through the property.

Pidgeon Molybdenum Deposit location map: http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-Fig_41.gif

The first phase of drilling completed in February 2008 confirmed the historic molybdenum resource data provided by Rio Algom and Strathcona Mineral Services as well as providing evidence of both depth and lateral extensions of the known mineralized zones. The recommendations for the phase 1 drill program was set out in a National Instrument 43-101 report written for MPH Ventures by Wardrop Engineering Inc. This drilling has not only confirmed significant molybdenum mineralization is present within the pegmatite vein swarm along the margin of the Archean age Lateral Lake stock, it has highlighted the fact that the main zone is not closed off and is open along strike. Only the eastern margin of the Lateral Lake stock has been explored in any detail by Rio Algom and MPH Ventures resulting in the partial delineation of a 1.5 kilometre strike length of near surface molybdenum mineralization.

3D Video on Pidgeon Molybdenum Deposit drilling: http://www.mphventurescorp.com/i/misc/PM2.wmv

The drilling rig is expected to arrive on site within the next two weeks. The phase 2 drill program will include some infill and confirmation holes as well as testing along strike, as the Company feels the main zone is likely geologically connected with other poorly explored occurrences located along the district scale Lateral Lake stock - country rock contact zone.

Past reports on the Pidgeon Molybdenum Deposit project from T. Bottrill for BHP Billiton (Sept. 17, 1979) and consulting engineering firm Strathcona Mineral Services Ltd. for BHP Billiton (July 16, 1980) indicate the contained tonnage in the mineralized zone varies from Strathcona's report of 9,000,000 tonnes drill indicated at 0.096% molybdenum to as much as T. Bottrill's report of 55,000,000 tonnes inferred with grades of 0.081% molybdenum. The historic estimates were based on a total of 76 variably spaced diamond drill holes completed on the property. The historic resources were not calculated to NI 43-101 standards and therefore could not be relied upon.

MPH Ventures received in November 2007 a National Instrument 43-101 standard resource estimate from Wardrop Engineering Inc. based on historical data. Wardrop has determined that the Pidgeon Molybdenum Deposit contains an inferred molybdenum resource of 8.5 million tonnes grading .099% molybdenum and that the mineralization has been calculated down to a total depth of 150 metres. The resource is contained in a mineralized shell, which is about 1300 metres long and 60 metres thick. The area containing the inferred resource in the report accounts for only 450 metres of the total strike length of the mineralized shell.

David J. Busch, B.A., B.Sc., PGeo., MPH Ventures' Project Manager, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release.

MPH Ventures Corp. is a molybdenum and precious metal 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

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various 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. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

The TSX Venture Exchange and Frankfurt Exchange have not reviewed and do 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