Mon Aug 31, 2009 MPH Ventures Issues Shares to Rubicon Minerals, Updated NI 43-101 Resource Calculation to be Completed
Vancouver, BC -- MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (the "Company") announces that it has issued 25,000 common shares in connection with its Property Option Agreement dated November 15, 2007 with Rubicon Minerals Corp. whereby the Company has been granted an option to earn a 100% interest, subject to a 2% net smelter return royalty, in the Echo Township property located in the Patricia Mining Division, northwestern Ontario (the "Property"). The Property surrounds and forms part of the Company's 3400 acres Pidgeon Molybdenum Deposit project.
The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring December 27, 2009.
In order to earn a 100% interest in the Property, the Company must make further cash payments of $60,000 and issue 50,000 common shares over the remaining two year term of the Agreement.
This Property was acquired as part of the land holdings surrounding the core patented Pidgeon Molybdenum Deposit claims MPH Ventures purchased from BHP Billiton and Goldcorp in November 2007. It is the Company's intention to continue to advance this project as the price of molybdenum continues to rebound.
MPH Ventures believes molybdenum prices will continue to strengthen through the rest of this year and well into 2010. In the near term, the Company will be commissioning an updated NI 43-101 compliant resource calculation along with recommendations to further increase the size of the Pidgeon Molybdenum surface deposit.
MPH Ventures Corp. is a gold and molybdenum exploration company focused on mineral development within Canada.
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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release may contain certain "Forward-Looking Statements" that may involve a number of 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. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com
You can view the Next News Releases item: Thu Sep 17, 2009, MPH Ventures Acquires Three Gold Properties in Timmins, NE Ontario
You can view the Previous News Releases item: Thu Jul 23, 2009, MPH Ventures Sampling on Geneva Lake Project Returns 15.9 g/t Gold and on Big Mac Project Returns 12.2 g/t Gold, NE Ontario
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