Wed Nov 7, 2007 Purchase from Rio Algom and Goldcorp of Pidgeon Molybdenum Mines Shares Closes
Non-Brokered Flow-Through Private Placement Announced
Vancouver, BC -- MPH Ventures Corp. (TSX.V: 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. (NYSE: BHP) and Goldcorp Inc. (TSX: G) 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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
________________________________
JAMES G. PETTIT
President
For further information contact myself or
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@mphventurescorp.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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