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(TSX-V: MPS)
NEWS RELEASE
May
12, 2009
MPH Ventures Acquires Five
Gold Properties in
Southeastern
Ontario
Vancouver,
BC ? MPH Ventures Corp. (TSX-V:
MPS) (FWB: IJA1) (the ?Company?) is pleased to
announce that it has entered into an acquisition agreement (the ?Agreement?)
with certain vendors (the ?Vendors?) to acquire a 100% interest in five
non-contiguous gold exploration properties referred to as the Raney Project,
Big Mac property, Geneva Lake property, Shining Gold property and Gould Gold
property comprised of approximately 735 hectares located in the Porcupine,
Sudbury, Larder Lake and Sault Ste. Marie Mining Divisions of southeastern
Ontario (the ?Properties?). The Properties host gold showings in
varying stages of exploration, discovered, and developed by the
vendors.
The
Raney Gold Property, located 110 km southwest of Timmins,
covers several historical gold occurrences. Previous operators
identified a gold bearing silica-pyrite-sericite alteration system
intersected with three diamond drill holes. The alteration system
contains two parallel zones spaced approximately 20 metres apart. The
wider lower zone contains higher gold grades (Table 1), including a
13.77 gm/t Au over a 1.70 m interval (R-08-4). The holes were completed
on two sections spaced 50 metres apart.
Table
1 ? Raney Gold Project Historical DDH Intersections
|
DDH
|
Zone
|
From
m
|
To
m
|
Width
m
|
Assay
gm/t
|
|
R-99-01
|
Upper
|
127.00
|
134.00
|
7.00
|
0.84
|
|
R-99-01
|
Lower
|
150.90
|
159.80
|
8.90
|
2.91
|
|
R-08-03
|
Upper
|
202.90
|
204.40
|
1.50
|
1.62
|
|
R-08-03
|
Lower
|
222.50
|
225.50
|
3.00
|
3.59
|
|
R-08-04
|
Upper
|
80.20
|
86.20
|
6.00
|
0.80
|
|
R-08-04
|
Lower
|
109.70
|
125.20
|
15.50
|
2.76
|
|
R-08-04
|
Lower
|
109.70
|
111.40
|
1.70
|
13.77
|
* The Company has not yet completed the work
necessary to verify the historical results and since they are historical in
nature and are non-compliant with NI 43-101, the results should not be relied
upon.
Exploration will commence on the
Raney Project with a diamond drill program to establish general geometry and
dimensions to the gold bearing alteration system and to evaluate the near
surface potential of the system. In addition, the Company will
review the drill core from past programs to assist in the evaluation of the
zone.
The other four projects, the Big
Mac property, Geneva
Lake property, Shining
Gold property and Gould Gold property, included in the purchase consist of
historically documented gold showings and have received minimal exploration
work. The properties display exploration characteristics associated with
known gold deposits and were advanced by the work and ideas of the property
vendors.
The exploration program is being
carried out under the direction of Todd
Keast, P. Geo. The information in this news release was
prepared by Todd
Keast, P. Geo., a qualified person as defined by National
Instrument 43-101.
Pursuant to the terms of the
Agreement, the Company has agreed to issue an aggregate of 2,272,728 common
shares to the Vendors in accordance with their respective interests in the
Properties. The Properties are subject to a 2% net smelter return royalty
(the ?NSR?) in favour of the Vendors. The Company has been granted a
right to purchase one-half of the NSR on the Properties by paying the Vendors
the sum of $1,000,000 for the 1% NSR acquired. The Company will pay up
to a 10% finder?s fee of 227,272 common shares of the Company, in connection
with these property acquisitions.
The above transaction is subject
to the acceptance of the TSX Venture Exchange.
MPH Ventures Corp. is a gold and
molybdenum exploration company focused on mineral development within Canada.
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
Shares Outstanding
41.3 million
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