Mantra Venture Group Announces Exclusive Negotiations with Northwind Ethanol Regarding...

Mantra Venture Group Announces Exclusive Negotiations with Northwind Ethanol
Regarding a Cellulosic Ethanol Joint Venture

OTCBB: MVTG FRANKFURT: 5MV

SEATTLE, WA, July 23 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd.
("Mantra" - OTCBB: MVTG - FSE: 5MV) is pleased to announce that it has entered
into exclusive negotiations with Northwind Ethanol Ltd. ("Northwind") in
regards to a joint venture to produce cellulosic ethanol using their
proprietary technology. The vehicle for the joint venture will be Mantra
NextGen Power Inc. ("NextGen"), a Nevada company and a Mantra subsidiary.
For some months Mantra has been looking for a way to make a difference in the
transportation sector with a technology capable of reducing its reliance on
fossil fuels. The ongoing work being done on hydrogen fuel cells and batteries
to power vehicles of all kinds seems, after review, to be aimed more at the
future. In the immediate term, Mantra has decided that a renewable fuel like
ethanol would be highly desirable (and attractive in the marketplace) if it
were not based on corn as its feedstock. Corn-based ethanol is now seen in
North America as undesirable both economically and politically.
The answer lay in Mantra's introduction to cellulosic ethanol: ethanol derived
from wood and agricultural wastes, an inexpensive and readily available
feedstock. The problem is that, although various companies are working to meet
the need, no technology is available today that met Mantra's exacting
standards. Our search for a cellulosic ethanol technology resulted in our
discovery of Northwind and our undertaking due diligence. The NextGen
technology promises to be much more economic than ethanol from corn, practical
in operation, clean (closed loop - there are no waste streams), and able to
power itself by using material superfluous to the core process. The technology
meets Mantra's test.
One of the aims in creating NextGen was to change the economics of ethanol
manufacturing, to produce ethanol at well below $1 per liter. NextGen
management believes that this can be accomplished.
Fred Enga, Northwind's C.E.O., commented, "Our two companies are close to
achieving the agreement that will commence this joint venture in NextGen.
Shortly after we finalize the agreement, we will begin to negotiate our first
plant. Additional sites are also in negotiation and once we start, I expect
the expansion process to move forward quite quickly."
Brian Currie, Northwind's C.F.O. added, "NextGen is the right business model
to develop our technology combining the financial strength of Mantra with the
technical expertise and market knowledge of Northwind."

About Mantra:

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, socially 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 5MV. For more information please
visit us at www.mantraenergy.com.
Mantra is encouraging and enabling investors to make environmental consumer
choices with a free environmental bag. Sign up here:
http://www.mantraenergy.com/tools-and-utilities/free-bag.html.

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.
SOURCE Mantra Venture Group Ltd.

Terry Johnston, Investor Relations, Phone: (604) 267-3022, Email:
tjohnston@mantraenergy.com, Website: http://www.mantraenergy.com