Mph Ventures Aquires Yukon Property next to " UNDERWORLD"
posted on
Jun 18, 2009 12:33PM
Edit this title from the Fast Facts Section
MPH VENTURES ACQUIRES YUKON PROPERTY ADJACENT TO UNDERWORLD’S WHITE GOLD PROJECT.
Vancouver, BC – MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (the “Company”) is pleased to announce it has entered into an agreement to acquire a 100 % interest in the Quartz Claims property. This property consists of 22 unit blocks located in the Yukon Territories adjacent and to the north-east of Underworld Resources Inc’s White Gold property. The total land package is approximately 950 hectares. Underworld has been exploring sediment and vein-hosted gold targets and they have recently announced (see their news dated May 26, 2009) a discovery hole of 103 metres of 3.4 grams per tonne gold. The land to the east, west, and south of the Quartz Claims Property has now been completely staked and a staking rush appears to be underway. The Company is planning to mobilize a field crew to perform detailed mapping and sampling in the next few weeks.
Yukon Map Showing Area of Interest:
http://www.mphventurescorp.com/s/Ima...
Quartz Claims Property Map:
http://www.mphventurescorp.com/i/map...
MPH Ventures will pay the Vender $75,000 cash and 800,000 shares of MPH plus a 3% NSR with an option to buy back 1% for $1 million. The Company also agrees to spend $250,000 over the next 12 months as a work commitment.
The Company will pay a finder’s fee of 75,000 common shares in connection with the property acquisition.
The above transaction is subject to the acceptance of the TSX Venture Exchange.
MPH Ventures Corp. is a gold and mineral exploration company focused on mineral development within Canada.