NEWS ALERT-MPH VENTURESMPH Ventures Issues Shares to Skyharbour For Debt Settlement Relating to Red Lake Gold Property, NW Ontario
MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) ("MPH") and Skyharbour Resources Ltd. (TSX VENTURE:SYH) ("Skyharbour") announce that further to their respective news releases of February 6, 2009, MPH has issued 500,000 common shares to Skyharbour in connection with a Debt Settlement Agreement. Pursuant to the terms of the agreement, MPH agreed to issue Skyharbour 500,000 common shares to settle the outstanding debt and accrued interest, relating to non-contribution to work programs on the companies' 50/50 Heyson project in the amount of $85,000.
The common shares issued to Skyharbour will be subject to a four month restriction on re-sale, expiring on July 6, 2009.
The 7,000 acres Heyson property lies to the south of the former Howey and Hasaga gold mines in the southern portion of the central Red Lake gold belt, 5 km southwest of the operating Goldcorp Red Lake and Campbell gold mines in NW Ontario.
Red Lake Ontario Heyson Project Map: https://www.mphventurescorp.com/i/maps/Heyson.gif
MPH Ventures Corp. is a precious metal and molybdenum exploration company focused on mineral development within Canada.
For further information on MPH Ventures Corp. (TSX VENTURE:MPS) visit the Company's web site at www.mphventurescorp.com .