(TSX-V:
MPS)
November
07, 2007
NEWS
RELEASE
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.
Pidgeon
Molybdenum Deposit Claims Map:
http://www.mphventurescorp.com/i/maps/MPS-ON-Pidgeon-area-map.gif
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.
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
“Jim Pettit”
________________________________
JAMES G. PETTIT
President
Share Outstanding
19.6 million
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