Mavrix Fund Management Inc. Announces the Closing of the Mavrix Quebec 2007-II FT Limited Partnership.

    Mavrix Fund Management Inc. (MVX on TSX)

    TORONTO, Aug. 30 /CNW/ - Mavrix Fund Management Inc. is pleased to
announce the closing of the Mavrix Quebec 2007-II FT Limited Partnership (the
"LP"). The closing raised gross proceeds of $ 23 million. The LP will invest
in a diversified portfolio of flow-through shares issued primarily by mining
companies with exploration activities in the province of Quebec. Quebec has
several geological regions with numerous producing mines and has recently been
the site of potentially world class discoveries of gold, copper, zinc, nickel,
iron, and diamonds. Provided applicable conditions under the Quebec Tax Act
are satisfied, a Quebec Limited Partner, who is a resident of Quebec at the
end of the year, may be entitled to deduct up to 150% of certain exploration
expenses incurred in the Province of Quebec.
    Prior to this closing, Mavrix Fund Management Inc. has been the manager
of eleven Resource Flow-Through Limited Partnerships that raised over
$340 million in proceeds, including two focused on Québec which raised
$34.5 million.
    The offering was co-led by Desjardins Securities Inc. and CIBC World
Markets Inc. Other syndicate members include BMO Nesbitt Burns Inc., Dundee
Securities Corporation, TD Securities Inc., Berkshire Securities Inc.,
Canaccord Capital Corporation, Laurentian Bank Securities Inc., Industrial
Alliance Securities Inc., and Richardson Partners Financial Ltd.

    About Mavrix Fund Management Inc.

    Mavrix is a publicly listed company trading on the TSX under the symbol
MVX. Mavrix is headquartered in Toronto with offices in Halifax, Montreal,
Winnipeg, Calgary, and Vancouver. Mavrix Mutual Funds are distributed solely
through licensed financial advisors and stockbrokers.

    %SEDAR: 00020385E

For further information:

For further information: David Balsdon, Vice President and
Secretary-Treasurer, Direct: (416) 365-4201, Toll Free: 1-888-964-3533, Email:; Or visit our website at

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