VANCOUVER, BRITISH COLUMBIA--(Marketwire - January 21, 2008) - MPH Ventures Corp. (TSX VENTURE: MPS)(FRANKFURT: IJA1) (the "Company") is pleased to announce initial assay results for the first 3 diamond drill holes of a 10,000 metre 30 to 40 hole drill program on its Pidgeon Molybdenum Deposit located in NW Ontario. The purpose of this primary drill program is to confirm the location, style, and grade of molybdenum mineralization that had been previously reported by Rio Algom in 1981.
Hole locations are designed to infill gaps in previous drilling and to confirm where mineralization was reported and to test the down dip extension of known mineralization. By doing this, the Company intends to quickly confirm historical data as reported by Rio Algom, and to further increase the size of the deposit.
MPH Ventures has now completed 9 delineation diamond drill holes. Assays have been received from the first 3 holes helping to confirm historic results and continuing to encourage the Company of the validity of past reports (see News Release November 27, 2007) including Rio Algom's report of 55,000,000 tonnes of an inferred resource of .081% molybdenum starting at surface.
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HOLE_ID Azimuth Dip Length M. Plan for hole
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PM07-1 350 55 146.9 Test down dip of known zone
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PM07-2 350 50 161.1 Confirm previous intercepts
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PM07-3 350 50 201.0 Confirm previous intercepts
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Weighted Average Grade
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HOLE_ID From M. To M. Length M. Mo %
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PM07-1 112.5 145.0 32.5 0.11%
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including 112.0 113.0 1.0 0.88%
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including 124.0 126.0 2.0 1.20%
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including 138.0 139.0 1.0 0.28%
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PM07-2 85.7 116.7 31.0 0.07%
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including 111.7 116.7 5.0 0.12%
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PM07-3 94.9 134.4 40.5 0.08%
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including 122.9 124.9 2.0 0.32%
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including 130.4 131.9 1.5 0.37%
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All intercepts are believed to be 90%+ of true width of mineralization
Hole PM07-1 has confirmed the down dip extension of the known mineralization. Holes PM07-2 and PM07-3 have confirmed mineralization in previous drill intercepts. As there are many more drill holes to report, the Company feels this is an excellent start in the process to delineate the Pidgeon Molybdenum Deposit. All nine holes have intersected the same style mineralization.
The completed drill holes have confirmed and extended the previously described geology and molybdenum mineralization. The margin of a potassic granite is intruded by late phase pegmatitic material consisting primarily of quartz and K-feldspar. The known main mineralized zone of pegmatite, in the margin of the granite, is from 30 to 50 metres thick. The drill holes indicate that additional zones of pegmatite occur deeper into the granite body than was previously known. Assays from the additional 6 drill holes have not been received and are pending including the deeper intersections.
Pidgeon Molybdenum Deposit Drill Map:
http://mphventurescorp.com/s/Image.asp?i=maps/MPS-Drill-Hole-Loc-lg.gif.
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 VENTURE: MPS) visit the Company's web site at www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts:
MPH Ventures Corp.
Jim Pettit
President
(604) 687-3376 or Toll Free: 1-800-567-8181
(604) 687-3119 (FAX)
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
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