OTCBB: MVTG – FSE: 5MV

Having completed this latest round of financing, Mantra will fund the next stage of research and development of its ERC technology, which reduces carbon dioxide using electrical energy into a useful product which may be used as fuel for fuel cells. This latest stage of research will be conducted at Mantra's newly established lab facility in Vancouver, BC, and will see the construction and testing of an advanced prototype of the ERC technology.

Professor Colin Oloman, the co-inventor of ERC, and Mr. Norman Chow, President of Kemetco Research Lab, have worked together before. This promises to be a fruitful cooperation.

"We are very pleased to be moving ahead with the ERC research on schedule and we expect that the results from the upcoming trials will position the technology as an innovative and very attractive solution to managing carbon dioxide emissions. The ERC technology gives us cause to hope that we will soon regard CO(2) emissions as a raw material, and the basis for a responsible energy source," said Larry Kristof, President and CEO of Mantra.

He continued: "The most obvious competitor is CCS (carbon capture and storage) which is projected to significantly increase the cost of electricity. ERC, on the other hand, is tentatively projected to offer a return on the user's investment. CCS may be widely available by 2050 whereas ERC is projected to be in the marketplace before 2010."

Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable and environmentally responsible investment for its shareholders.

Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol EDV 5MV.

Forward-Looking Statements:

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Mantra Venture Group's filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.