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(TSX-V:
MPS)
July
11, 2007
NEWS RELEASE
MPH Ventures Updates Ongoing Exploration
in Ecuador
Vancouver,
BC – MPH Ventures Corp. (TSX-V: MPS) (the
“Company”) is pleased to announce an exploration update on its
5,600 hectares M10 precious and base metal property located 50km east of the
capital Quito in the Pinchincha province of Ecuador.
The
property is located within the intra oceanic island arc sequence of the
Machuchi Unit approximately 5km north along strike of Cornerstone
Capital’s La Plata Massive Sulfide deposit, which is contained within the
same stratigraphy. Structurally the La
Plata deposit is contained within an anticline, the
axis of which continues onto the M10 property. To the northeast of MPH
Ventures properties lies the La Florida mine which is currently extracting
high-grade gold and silver ore from extensive quartz veins. These veins trend
east-west and it is our belief they have the potential of continuing onto our
property. No systematic exploration has ever been undertaken in this area.
Map: http://www.mphventurescorp.com/s/Image.asp?i=maps/m10_laplata_map.jpg
MPH
Ventures has been undertaking geological exploration of its M10 property
since February 2007. Thus far, the exploration work has consisted of detailed
geological mapping of the area, rock chip sampling of outcrops and float,
stream sediment and soil sampling, and the taking of panned concentrate
samples. Samples are prepped in Quito by the
internationally respected laboratory group Inspectorate and pulps are shipped
to Lima for
analysis. A vigorous QA/QC system has been emplaced involving the insertion
of standards (from Canadian labs), blanks and duplicates. MPH Ventures is
encouraged with the assayed results received to-date.
A more
comprehensive field report from the Company’s Vice President of
Exploration, Al Cole, can be found on the Home
Page of MPH Ventures website at:
http://www.mphventurescorp.com/i/pdf/Progress_Report_June2007.pdf
The
Company will continue this work to complete coverage of the M10 property. In
September and October 2007, a geophysical program involving induced polarization,
resistivity, and magnetics will be conducted. These are proven techniques in
the discovery of Massive Sulfide deposits which are ‘blind’ or
have subtle surface exposure.
MPH
Ventures has employed CINGE, the premier environmental impact study group in Ecuador,
to complete an Environmental Impact Assessment (EIA) for the M10 prospect.
The terms of reference for this report have been approved by the Ecuadorian
Ministry of Mines and Energy and the draft report is almost complete.
The
Company has formed a very good relationship with the local people who live on
and around the prospect and are mostly employed in agricultural activities
such as dairy and cane farming. A Community Relations Officer has been
appointed to explain our activities to the community and to listen to and
report to us any concerns the community may have. Currently we have twelve
local employees and this number will increase greatly as our activity
increases in the coming months.
MPH
Ventures has several community development initiatives underway. These
include replacing the church floor in Reunion Toachi
Township, employing an
engineer to oversee the construction of a bridge, and the planting of 500
saplings to be used in erosion control.
Given the
proximity to other deposits and the presence of anomalous grades throughout
the property, it is the belief of the Company that we are in the right
location to potentially discover a high quality ore deposit.
MPH
Ventures has an option to earn a 50 per-cent interest in the 4,915 hectare
M10 concession from Lateegra Gold Corp.
The M10
property was identified by Ing Fredy Salazar, who spent several years as a
senior geologist for Newmont Mining, and provided consulting services for
Aurelian Resources. Mr. Salazar was instrumental in the identification of the
land package known as the Condor project held by Aurelian Resources located
in the emerging gold belt in southern Ecuador.
David J.
Busch, B.A., B.Sc., PGeo., is the qualified person under the meaning of
National Instrument 43-101, and has reviewed the data in this News Release.
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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