OTCBB: MVTG – FSE: 5MV

Seattle, WA, April 23, 2008: Mantra Venture Group Ltd. (OTCBB: MVTG – FSE: 5MV) has identified a new lab facility to advance research on its Electro Reduction of Carbon Dioxide (ERC) Technology.

Following its recent announcement to establish a research and development facility for its technology portfolio, Mantra is finalizing arrangements with Kemetco Research Inc., a private sector integrated science, technology and innovation company, to launch and operate the facility in Vancouver, British Columbia.

Mantra and Kemetco have identified a budget for the first year of operations at the lab which will see the construction and testing of an advanced prototype of Mantra’s ERC technology. The ERC technology reduces carbon dioxide by electrical reaction into formate or formic acid, both of which have a variety of valuable industrial applications, including as energy storage and generation mediums. The technology has been granted PCT (patent) status and Mantra is currently undertaking the national phases of the patenting process world wide. Most recently, a paper written by the inventors of the ERC technology, Professor Colin Oloman and Dr. Hui Li, was published in ChemSusChem, an interdisciplinary journal for research in chemistry and sustainable energy. Mantra will soon be releasing details of the research contained in the paper, which anticipate that a single ERC unit will be capable of reducing up to 100 tons of carbon dioxide per day into formate or formic acid.

“We have already had tremendous interest from potential licensors and partners regarding the ERC technology and we expect that the results from our upcoming research will position the technology as a cutting edge solution to managing carbon dioxide emissions.” said Larry Kristof, President and CEO of Mantra. “The technology represents a change in philosophy in dealing with CO2 emissions. It allows us to view carbon dioxide not as a problem but rather as a raw material, and ultimately as a valuable fuel.”

Currently, one quarter of the world’s carbon dioxide emissions are released through the burning of Fossil Fuels. As a result, demand for carbon dioxide reduction has prompted large industry participants like NYSE:GE and NYSE:BP to build energy production gasification plants that will capture over 400 million tons of carbon dioxide annually with an annual dollar value estimated to be in the hundreds of millions.

Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is set to enter the burgeoning 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, Mantra intends to provide a highly profitable and, more importantly, socially and environmentally responsible investment for its shareholders.

Mantra is a public company quoted on the OTCBB under the symbol MVTG and the Frankfurt Stock Exchange under the symbol 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.