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(TSX-V:
MPS)
NEWS RELEASE
June 19, 2008
MPH Ventures Significantly Extends Length of
Pidgeon Molybdenum Deposit in NW Ontario
Vancouver,
BC ? MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (the ?Company?) is pleased to announce an update regarding the
Company?s phase 2 drill program on its 100 percent-owned Pidgeon Molybdenum
Deposit project located at the east end of Lateral Lake near the town of
Dryden, Northwestern Ontario.
Pidgeon Molybdenum Deposit
location map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-Fig_41.gif
The Pidgeon Molybdenum Deposit property contains an
indicated resource of 8.5 million tonnes with an average grade of .09%
Molybdenum (see Wardrop Engineering report filed on Sedar November 27, 2007).
The Phase 2 drill program has been designed with the intent of significantly
increasing the size of the existing molybdenum deposit, which remains open
both to the northeast and southwest.
3D Video on Pidgeon Molybdenum Deposit drilling:
http://www.mphventurescorp.com/i/misc/PM2.wmv
MPH Ventures has now completed 8 drill holes
of the phase 2 drill program. All 8 holes drilled to date have
encountered significant molybdenum mineralization and have succeeded in
significantly extending the length of the molybdenum zone. Several of the
intercepts seen to date have exceeded the average in terms of the width of
the known molybdenum zone. The objective of this phase 2 drilling is to
demonstrate that the known inferred Pidgeon Molybdenum resource can likely be
expanded to over 20 million tonnes with only a modest drill program. The
Company is of the opinion that this goal is within reach and may be exceeded
during this phase of drilling. MPH Ventures is of the opinion that the
Pidgeon Molybdenum Deposit property has the potential to host as much as 50+
million tonnes at surface.
Holes PM08-1 and
PM08-2 were collared in the heart of the known molybdenum zone to confirm
past data indicating higher molybdenum grade in the interior zone. Molybdenum
mineralization has been encountered in a 50+ metre intersection in drill hole
PM08-1 and a 42+ metre intersection in drill hole PM08-2.
Hole PM08-3 and
PM08-4 were designed to test the southwestern extension of the molybdenum
zone as indicated in past news release on March 26, 2008. Both holes have
encountered significant widths of molybdenite with Hole PM08-3 intersecting
40+ metres and hole PM08-4 with a 24+ metres intersection. These two holes
demonstrate that the Pidgeon molybdenum zone does not break at the southwestern
end of the known deposit and is likely continuous in a more westerly
direction than previously indicated. This is significant because it indicates
the western continuation of the main zone has not been previously tested.
Holes PM08-5
through PM08-16 all are designed to test the northeastern extension of the
known Pidgeon molybdenum deposit. These holes are being drilled along strike
on the molybdenum zone with approximately 50 metres spacing between holes.
These holes are being drilled at a dip of 50 degrees with an azimuth of 320
degrees to a depth of approximately 100 metres. Holes PM08-5 to PM08-8 have
been completed and have encountered significant molybdenum. PM08-5
intercepted 45 metres of molybdenite mineralization and PM08-6 intercepted 46
metres. Holes PM08-7 and PM08 are currently being logged and sampled. The
reported core lengths are considered to be close to the true widths of the
molybdenum zone.
All Phase 2 holes
to date have intersected molybdenum within 100 metres of surface. MPH
Ventures is of the opinion that a possible open pit situation exists for the
Pidgeon Molybdenum Deposit property. The property has excellent
infrastructure in that the project has an all weather road going across the
property, location to paved highway is only 10 km south and location to major
CN rail line is only 10 km to the north of the property. A major existing
power line also traverses the Company?s property.
MPH Ventures has
announced a $1 million non brokered private placement as a funding mechanism
to extend its Phase 2 drill program on the Pidgeon Molybdenum Deposit
project. It is the Company?s intent to fully and thoroughly explore this
property for its molybdenum content. MPH Ventures intents to fully delineate
the deposit and bring much of the inferred resource to drill indicated
status.
At the Pidgeon
Molybdenum Deposit property, the drill core is sawn into halves with one-half
being sent for analysis and the other kept for future reference. All samples
were prepared and analyzed at TSL Analytical Labs in Saskatoon
using a four-acid digestion. A stringent program quality control was employed
throughout with duplicates, standards and blanks being entered into the
sample stream at 30 sample intervals.
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 molybdenum and precious metal 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
Share Outstanding
29.3million
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