International Barytex Resources Ltd.
TSX VENTURE : IBX

International Barytex Resources Ltd.

October 31, 2007 08:01 ET

International Barytex Resources Ltd.: Shituru Project Update

Feasibility Study underway; Final drill results include 46 metres grading 8.6% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2007) - INTERNATIONAL BARYTEX RESOURCES LTD. ("the Company") (TSX VENTURE:IBX) is pleased to announce assay results of an additional 30 diamond drillholes completed as part of its exploration program at the Shituru Copper deposit located near the town of Likasi in the Democratic Republic of Congo (DRC). This drilling completes the delineation program which will be used to estimate the Mineral Resource for a Feasibility Study.

The holes represent fill-in drilling at the eastern and western limits of the property as well as near surface and down-dip drilling.

Significant intersections for 12 diamond drillholes are tabulated below. Please see the table for complete results.



SM-07-75 19.9 metres @ 6.9% Copper
SM-07-84 23.5 metres @ 5.7% Copper
SM-07-101 40.3 metres @ 4.1% Copper
SM-07-67 42.0 metres @ 2.8% Copper
SM-07-69 39.9 metres @ 4.8% Copper
SM-07-68 11.4 metres @ 8.1% Copper
SM-07-68 12.5 metres @ 4.5% Copper
SM-07-102 46.7 metres @ 8.6% Copper
SM-07-74 34.0 metres @ 6.3% Copper
SM-07-100 19.6 metres @ 5.6% Copper
SM-07-72 15.9 metres @ 4.9% Copper
SM-07-99 19.7 metres @ 4.2% Copper
SM-07-85 22.7 metres @ 4.8% Copper


Drill results continue to support the interpretation of a stratiform deposit with above average grades near surface. Exploration drilling has been on-going since March 2006, is now complete, and consists of 98 holes representing 14,157 metres of drilling that will be used for a Mineral Resource update.

Project Status

Although work is still continuing on completing the Preliminary Assessment study, in anticipation of positive results, a Feasibility Study work program is well underway.

Geologic interpretation of the deposit is being finalized. The drill information indicates a widening of mineralization between sections 283,200E and 283,450E where grades are also elevated, especially near surface. The additional drilling also indicates that carbonate-rich host rocks occur principally at depth and this has significant implications for the metallurgical process being considered for the project.

Geotechnical drilling to establish pit-wall slope design parameters for feasibility work is now complete.

Condemnation drilling on project infrastructure sites is now underway and drilling for geo-hydrological studies and long-term ground water monitoring will be undertaken next with site foundation testing to follow.

An electrical supply study is underway. Environmental baseline monitoring has commenced and is on-going.

The metallurgical test program is well advanced with results indicating that Whole Ore Leaching (WOL) would be practical for all ore types with the exception of high carbonate ore which occurs principally at depth and is estimated to make up about 20% of the overall Mineral Resource. Adopting WOL would substantially improve the metallurgical recovery over the Flotation - Concentrate Leach (FCL) process considered previously with a positive impact on cash costs during operation.

As a consequence of the recent WOL metallurgical testwork, it has been decided to incorporate these results into the Preliminary Assessment being prepared by Bateman Minerals and Metals of Johannesburg which is now scheduled for completion in Q4-07.

President Leo King, states, "We are pleased to have completed the exploration program and a substantial amount of the engineering site work that will form the basis of a feasibility study expected to be completed in Q3-2008.

While our recent metallurgical testwork has delayed completion of the Shituru Preliminary Assessment we are encouraged that this work is simplifying the flowsheet while improving Copper recoveries. We look forward to releasing the results of the Preliminary Assessment when it is completed later in Q4 of this year.

We are impressed with the quality of the deposits in the DRC and hope to actively pursue further opportunities as the Shituru project advances."

SUMMARY OF MINERALIZED ZONES INTERSECTED BY EXPLORATION DRILLING



---------------------------------------------------------------------------
Dip Est
Section North deg- From To Width TW % %
Hole Zone Dep Lat rees m m m m Cu Co
---------------------------------------------------------------------------
NEAR SURFACE
---------------------------------------------------------------------------
SM 07-75 Upper 283,050 277,393 -40 13.2 16.1 2.9 2 1.8 .06
---------------------------------------------------------------------------
Upper 21.6 41.5 19.9 16 6.9 .91
---------------------------------------------------------------------------
SM 07-84 Lower 283,150 277,375 -60 14.4 37.9 23.5 20 5.7 .01
---------------------------------------------------------------------------
SM 07-102 Upper 283,350 277,250 -55 3.7 10.4 6.7 5 4.8 .03
---------------------------------------------------------------------------
Lower 21.9 68.6 46.7 35 8.6 .06
---------------------------------------------------------------------------
SM 07-100 Lower 283,450 277,248 -45 30.2 49.8 19.6 19 5.6 .08
---------------------------------------------------------------------------
SM 07-99 Upper 283,600 277,214 -40 4.9 9.3 4.4 4 1.6 .05
---------------------------------------------------------------------------
Lower 35.7 55.4 19.7 18 4.2 .11
---------------------------------------------------------------------------
SM 07-85 Lower 283,640 277,190 -60 33.2 55.9 22.7 21 4.8 .09
---------------------------------------------------------------------------
SM 07-90 Lower 283,675 277,187 -50 3.0 26.8 23.8 23 3.0 .12
---------------------------------------------------------------------------
Lower 29.4 34.5 5.1 5 1.5 .60
---------------------------------------------------------------------------
SM 07-91 Upper 283,750 277,162 -40 10.2 16.2 6.0 5 4.6 .28
---------------------------------------------------------------------------
SM 07-92 Lower 283,800 277,136 -40 28.2 38.1 9.9 10 2.8 .14
---------------------------------------------------------------------------
SM 06-31 Lower 283,850 277,082 -44 5.6 9.6 4.1 4 2.5 .11
---------------------------------------------------------------------------

---------------------------------------------------------------------------
DOWN-DIP
---------------------------------------------------------------------------
SM 07-73 - 283,000 277,276 -40 No Significant Intersection
---------------------------------------------------------------------------
SM 07-76 Lower 283,050 277,349 -80 3.0 7.6 4.6 4 1.6 .02
---------------------------------------------------------------------------
SM 07-74 Lower 283,400 277,147 -90 117.2 151.2 34.0 30 6.3 .04
---------------------------------------------------------------------------
SM 07-72 U2 283,450 277,118 90 23.0 42.5 19.5 12 2.5 .03
---------------------------------------------------------------------------
U1 118.8 134.7 15.9 12 4.9 .02
---------------------------------------------------------------------------
Upper 142.4 156.7 14.3 11 3.8 .01
---------------------------------------------------------------------------
SM 07-71 U1 284,500 277,094 -90 154.2 155.5 1.3 1 1.8 .01
---------------------------------------------------------------------------
SM 07-66 Upper 283,600 277,069 -60 90.0 92.9 2.9 3 2.0 .02
---------------------------------------------------------------------------
Lower 152.8 154.2 1.4 1 2.5 .04
---------------------------------------------------------------------------
Lower 162.9 178.5 15.6 13 2.5 .01
---------------------------------------------------------------------------
SM 07-89 Lower 283,640 277,105 -60 129.7 133.2 3.5 3 2.3 .09
---------------------------------------------------------------------------
Lower 140.2 148.2 8.0 6 1.0 .02
---------------------------------------------------------------------------
SM 07-88 - 283,750 277,105 -70 No Significant Intersection
---------------------------------------------------------------------------
SM 07-96 Upper 283,850 277,002 -45 74.7 77.1 2.4 2.4 1.2 .00
---------------------------------------------------------------------------

---------------------------------------------------------------------------
FILL-IN
---------------------------------------------------------------------------
SM 07-101 U1 283,150 277,338 -50 4.9 12.2 7.3 5 4.0 .05
---------------------------------------------------------------------------
Upper 12.2 52.5 40.3 27 4.1 .07
---------------------------------------------------------------------------
Lower 56.8 67.7 10.9 5 1.6 .03
---------------------------------------------------------------------------
SM 07-59 U1 283,175 277,274 -45 37.3 57.9 20.6 17 1.5 .03
---------------------------------------------------------------------------
Upper 68.4 72.1 3.7 3 1.3 .02
---------------------------------------------------------------------------
Lower 88.5 107.9 19.4 19 2.4 .11
---------------------------------------------------------------------------
SM 07-67 U1 283,275 277,235 -42 20.6 27.7 7.1 7 2.9 .03
---------------------------------------------------------------------------
Upper 44.5 86.5 42.0 41 2.8 .04
---------------------------------------------------------------------------
SM 07-69 U1 283,275 277,199 -45 43.1 50.6 7.5 4 4.9 .02
---------------------------------------------------------------------------
Upper 70.9 110.8 39.9 39 4.8 .03
---------------------------------------------------------------------------
SM 07-68 U2 283,325 277,143 -43 18.9 25.2 6.3 6 1.0 .01
---------------------------------------------------------------------------
U1 75.9 87.3 11.4 10 8.1 .04
---------------------------------------------------------------------------
U1 90.7 100.5 9.8 7 1.6 .02
---------------------------------------------------------------------------
Upper 107.2 119.7 12.5 12 4.5 .05
---------------------------------------------------------------------------
Lower 127.4 134.7 7.3 7 1.1 .02
---------------------------------------------------------------------------
SM 07-86 Lower 283,640 277,190 -41 34.2 49.9 15.7 15 1.8 .14
---------------------------------------------------------------------------
SM 07-87 Upper 283,675 277,123 -45 15.2 25.2 10.0 10 4.0 .02
---------------------------------------------------------------------------
Lower 73.2 77.0 3.8 3 1.7 .02
---------------------------------------------------------------------------
Lower 83.7 88.6 5.4 5 3.6 .17
---------------------------------------------------------------------------
SM 07-93 - 283,800 277,070 -60 No Significant Intersection
---------------------------------------------------------------------------
SM 07-94 Lower 283,850 277,048 -45 33.2 37.7 4.5 4 1.2 .13
---------------------------------------------------------------------------
SM 07-98 - 283,900 276,981 -50 No Significant Intersection
---------------------------------------------------------------------------
SM 07-97 - 283,900 277,022 -45 No Significant Intersection
---------------------------------------------------------------------------
A summary of disclosed drillhole intersections is available on the
Company's website www.barytex.com.


Core samples were sent to Alfred H. Knight (Zambia) Limited laboratories located at Kitwe, Zambia and to ALS/Chemex located in Johannesburg for preparation and analysis. Alfred H. Knight (Zambia) Limited has ISO/IFC 17025 accreditation for analysis of minerals and metals and is SANAS accredited for Cu and Co. ALS/Chemex has ISO 9001:2000 and ISO 17205:2005 accreditation.

All samples were prepared to normal industry standards and assayed for total Copper, acid soluble Copper, total Cobalt and CaO. In addition to the laboratories' internal quality control measures, the Company has implemented a quality assurance and quality control program which includes insertion of appropriate standards and blanks into the sample stream.

Bruno Barde, P. Geo, Exploration Manager for the Company, is supervising the program. Mr. Barde is a Qualified Person as defined under National Instrument 43-101.

The Company entered into an Option Agreement in May 2005 to acquire a major interest in the Shituru Copper-Cobalt deposit located within the Congo Copper Belt near the city of Likasi in the DRC. When fully exercised, the Company will hold an indirect 65% interest, the optionors a 10% indirect interest and Gecamines a 25% interest in Shituru Mining Corporation, sprl (SMCO), a joint venture corporation established to serve as the vehicle for the exploration and development of the Shituru property.

On behalf of the Board of Directors

INTERNATIONAL BARYTEX RESOURCES LTD.

Leo King, President and Director

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion and timing of preliminary assessments. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated and the timing of Preliminary Assessments.

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

Contact Information

  • International Barytex Resources Ltd.
    Alf Hills
    CEO
    (604) 688-9368
    or
    International Barytex Resources Ltd.
    Ivan Bebek
    Manager, Investor Relations
    (604) 688-9368
    (604) 688-9336 (FAX)
    Email: ibx@telus.net
    Website: www.barytex.com