International Barytex Resources Ltd.
TSX VENTURE : IBX

International Barytex Resources Ltd.

July 11, 2008 19:10 ET

International Barytex Resources Ltd.: Shituru Project Contract Review

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2008) - INTERNATIONAL BARYTEX RESOURCES LTD. ("the Company") (TSX VENTURE:IBX) advises that in regard to the contract review process the Democratic Republic of Congo ("DRC") is undertaking, East China Capital Holdings Ltd ("ECCH"), a subsidiary controlled by the Company, has received a proposal from Generale des Carrieres et des Mines (Gecamines) to revise the Gecamines-ECCH agreement in regard to the Shituru copper deposit located near Likasi, Katanga province, DRC.

ECCH has been advised by Gecamines that as a preliminary step to finalizing the contract review initiated by the DRC Government, ECCH should reach agreement with Gecamines on the proposed modifications to the existing agreement. In this regard, it is expected that Gecamines will set a meeting date within the next few weeks for discussions. If agreement regarding changes to the existing contract can be reached, Gecamines and ECCH would then take these amendments to the DRC Government for approval. If no agreement on the proposed changes can be reached, the matter would then be put before a tribunal to be set up by the DRC Government.

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 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.

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.
    Leo King
    President
    (604) 688-9368
    or
    International Barytex Resources Ltd.
    Alf Hills
    CEO
    (604) 688-9368
    (604) 688-9336 (FAX)
    Email: ibx@telus.net
    Website: www.barytex.com