MPH Ventures Corp. has entered into an agreement to acquire a 100-per-cent interest in the quartz claims property. This property consists of 22 unit blocks in Yukon, adjacent and to the northeast 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 it has recently announced a discovery hole of 103 metres of 3.4 grams per tonne of 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.

MPH Ventures Claim Map

A Yukon map showing the area of interest and a quartz claims property map are available on the company’s website.

MPH Ventures will pay the vender $75,000 cash and 800,000 shares of MPH plus a 3-per-cent net smelter royalty, with an option to buy back 1 per cent 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.