MPH Ventures Corp.
TSX VENTURE : MPS
FRANKFURT : IJA1

MPH Ventures Corp.

February 28, 2008 14:02 ET

MPH Ventures Corp.: 1st Phase Drilling Completed at High-Grade Pidgeon Molybdenum Deposit in NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) (the "Company") announces further assay results from its Phase 1 2007 / 2008 diamond drill program at its Pidgeon Molybdenum Deposit located in NW Ontario. The project is located in close proximity to the Trans Canada Highway in an area of well developed highway, rail and electrical power infrastructure. A significant tonnage of near-surface high-grade molybdenum mineralization was discovered by Rio Algom and Dickenson Mines (now Goldcorp) at the property in the late 1970's. Details on project location, history and resource estimates have been previously released by MPH Ventures.

Feb. 2008 3D Video on Pidgeon Molybdenum Deposit:
http://www.mphventurescorp.com/i/misc/PM2.wmv

MPH Ventures has now completed 16 delineation diamond drill holes totaling 3032 metres for the Phase 1 Exploration Program on its Pidgeon Molybdenum Deposit project. In addition, approximately 69 line kilometres of ground magnetic data was collected on a cut grid covering the eastern end of the stock and greenstone country rocks.

The compilation of data from the Phase 1 program is ongoing at present and a significant portion of the assays from 16 completed drill holes have yet to be received. Assays results from the first 6 drill holes were previously released on by MPH Ventures on January 21st and February 7th 2008.

Phase 1 Mo Mineralization Confirmation Drill Program:

Nine diamond drill holes (PM07-1 to PM07-9) were completed to confirm historic mineralized intercepts at the property. Geologic data and intercepted Mo mineralization in these holes has confirmed the historic geologic and assay data and is being used to refine the resource model.

The following three geologic logs from Phase 1 holes PM07-1, PM07-5 and PM07-9 illustrate the nature of the geology and mineralization encountered in the nine hole confirmation drilling program.

PM07-01 was drilled NNW at 55 degrees to intercept the SE portion of the main historic mineralization zone. The hole passed through 24.7 metres of glacial over burden and into a metasedimentary sequence. The sediments continue to the granite contact at 96.9 metres. The granite is cut by abundant pegmatite veining to the bottom of the hole at 146.9 metres. Disseminations and clusters of MoS2 were intercepted within pegmatite veins and in the granite wall rocks from 112.5 to 145.0 meters (assays previously released, 32.5 metres of 0.11% Mo).

PM07-5 was drilled NNW at 50 degrees to intercept the central portion of the main historic mineralization zone. The hole passed through 23.5 metres of glacial over burden and into a metasedimentary sequence. The sediments continue to the granite contact at 134.5 metres. The granite is cut by abundant pegmatite veining to the bottom of the hole at 222.0 metres. Disseminations and clusters of MoS2 were intercepted within pegmatite veins and in the granite wall rocks from 135.5 to 178.5 metres (assays previously released, 46.5 metres of 0.14% Mo).

PM07-9 was drilled NNW at 50 degrees to intercept the northern portion of the main historic mineralization zone. The hole passed through 10.9 metres of glacial over burden and into a metasedimentary/metavolcanic sequence which is cut by gabbroic and plagioclase porphyry dikes. The sediments and greenstones continue to the granite contact at 109.6 metres. The granite is cut by abundant pegmatite veining to 212.2 metres. Weakly altered granite then continues to the bottom of the hole at 246.3 metres. Disseminations and clusters of MoS2 were intercepted within pegmatite veins and in the granite wall rocks from 125.9 to 189.0 metres (assays reported below).

Phase 1 Extension and Exploration Drill Program:

Seven of the Phase 1 program drill holes were targeted at depth and lateral extensions of known mineralization and at geologic targets outside the areas of known mineralization. Zones of well developed MoS2 mineralization were intercepted in all of these extension and exploration holes.

These seven holes represent the initiation of the most important part of the MPH Ventures exploration program at the project, to discover significant additional tonnage of MoS2 mineralization.

The data from these holes is being compiled and will be used, along with other historic data, to target a much more extensive exploration drill program at the project. It is anticipated that the Phase 2 Exploration Program will commence in early spring 2008.

Phase 1 Mo Mineralization Extension Drilling:

PM07-10 was drilled NNW at 60 degrees to test the depth extent of the central portion of the main historic mineralization zone. The hole passed through 3.5 metres of glacial overburden and into a metasedimentary/metavolcanic sequence which is cut by gabbroic and plagioclase porphyry dikes. The sediments and greenstones continue to the granite contact at 250.40 metres. The granite is cut by abundant pegmatite veining to the bottom of the hole at 373.50 metres. Disseminations and clusters of MoS2 were intercepted within pegmatite veins and in the granite wall rocks from 266.6 to 288.0 metres (assays reported below).

Two highly anomalous gold values were intercepted in this hole. A narrow, quartz veined and mineralized shear zone with abundant chalcopyrite and phyrotite was intercepted from 161.8 to 162.4 metres within chlorite altered greenstones. A gold assay of 1.47 g/t was returned from this zone. A second zone of highly anomalous gold was intercepted from 320.6 to 325.1 metres within sheared granite containing pyrite, chalcopyrite and phyrotite. A gold assay of 2.51 g/t was returned from this zone.

MPH Ventures has now received assays results for drill holes 7, 8, 9, and 10 at its Pidgeon Molybdenum Deposit project.



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HOLE_ID From M. To M. Length M. Mo% Au gm/t
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PM08-7 10.0 11 1.0 0.07%
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11.0 12 1.0 0.03%
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16.0 16.5 0.5 0.03%
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82.5 87.5 5.0 0.06%
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including 84.5 86.5 2.0 0.14%
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93.5 97.5 4.0 0.17%
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including 96.0 97.0 1.0 0.45%
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105.5 114.0 8.5 0.10%
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including 106.5 108.0 1.5 0.31%
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123.0 124.0 1.0 0.04%
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PM08-8 173.5 178.5 5.0 0.03%
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190.0 194.5 4.5 0.14%
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including 190.0 191.5 1.5 0.34%
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203.5 204.5 1.0 0.06%
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213.5 224.6 11.1 0.01%
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PM08-9 62.5 66.8 4.3 0.02 gm
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125.9 144.0 18.1 0.08%
including 130.9 132.9 2.0 0.11%
including 135.6 144.0 8.4 0.14%
including 137.9 143.1 5.2 0.24%
151.0 157.4 6.4 0.11%
173.8 174.9 1.1 0.05%
180.0 189.0 9.0 0.06%
including 183.3 189.0 5.7 0.08%
PM08-10 161.8 162.4 0.6 1.47 gm
232.7 237.0 4.3 0.58 gm
273.7 275.0 1.3 0.65 gm
320.6 325.1 4.5 2.51 gm
266.6 267.8 1.2 0.15%
282.8 288.0 5.2 0.17%
including 286.8 288.0 1.2 0.70%
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Four goals were established for the Phase 1 Exploration Program:

1. Confirm historic assay intervals and geology in established resource areas.

2. Extend known mineralization by drilling down dip and along strike of known zones.

3. Begin exploration for new MoS2 resources by drilling untested targets outside the historic resource areas.

4. Mapping of the eastern margin of the stock and intruded greenstones through thin glacial till cover with the use of ground magnetic data collected on a surveyed grid.

To date, the program has been successful in meeting all four of these goals. Compilation and analysis of collected geophysical, geologic and assay data from the program is underway. Once completed, this compilation will be used to develop drill targets for the Phase 2 drill program at the project.

The large and strategic land holdings of MPH Ventures will enable the Company to fully explore this large area of proven molybdenum mineralization potential.

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

At the Pidgeon Molybdenum Deposit property, the drill core is sawn into halves with one-half being sent for analysis and the other kept for future reference. All samples were prepared and analyzed at TSL Analytical Labs in Saskatoon using a four-acid digestion with analysis by induced couple polarization (ICP). A stringent program of check, blank and duplicate sampling was employed throughout with duplicates, standards and blanks being entered into the sample stream at regular intervals.

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 gold, silver, and molybdenum exploration company focused on mineral development within Canada and Latin America.

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

ON BEHALF OF THE BOARD OF DIRECTORS

Don Huston, Director

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 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.
    Don Huston
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    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