VMS Snow Lake, Manitoba Exploration Update

Drilling is underway on the Reed Lake Discovery Zone and the second hole of the program has now been completed. Eight drill hole locations have been selected around the discovery hole, RD07-02, and the results of these holes will be used to determine the probable orientation of the mineralized body.

In addition, preparations are being made for down-hole geophysical surveys of these new drill holes around the discovery hole. Down-hole geophysical surveys employ a probe which travels down the bore hole taking readings from the top to the bottom of the hole. This survey method enables detection of conductive sulphide bodies within approximately 100m of the borehole. This information can help geologists determine the location of additional lenses of sulphide mineralization, as these deposits commonly consist of several individual lenses.

Permits are pending for the construction of grid lines to be cut on the southern portion of the Reed Lake property in the area covering the Discovery Zone, and several nearby VTEM anomalies, to allow for Surface Deep EM geophysical surveys. These are designed to detect hidden bodies of mineralization to depths much greater than the current drilling is targeting.

More than 40 drill holes are currently being planned for the upcoming winter program at the Discovery Zone. The Company is also preparing permit applications for 2008 drilling at other VMS and Nickel exploration properties, in addition to the Reed Lake property.

The drilling is progressing as planned and samples will be shipped for assaying once drill core has been logged and processed. All technical information in this release has been reviewed by Dr. George Gale, P.Eng, the Qualified Person, Vice President of Exploration and director of VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package considered prospective for nickel-copper mineralization at Lynn Lake, which is to date Canada's third largest nickel producing camp. The Company's project portfolio consists of the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper project, the Nickel Belt project, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal B.Sc., President & Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.