International PBX Ventures Ltd.

International PBX Ventures Ltd.

November 21, 2007 09:00 ET

International PBX Commences 5000 Metre Drill Program on the Tierra De Oro Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2007) - International PBX Ventures Ltd. (TSX VENTURE:PBX) -

The company is pleased to announce that it has commenced a 5000 metre reconnaissance reverse circulation drill program to test targets generated from the company's previous work on the claims. To date, the company's exploration programs have identified, mapped, sampled, trenched and drilled, to varying degrees, twenty large gold targets.

The wholly-owned property, 63 square kilometers in area, located in Region 3, Chile hosts a shattered granitic body with criss-crossing major structural gold-mineralized shears as evidenced by extensive artisanal pits and workings. The granitic body is oxidized to depths of around 100 metres and may thus be amenable to open pit leaching operations in areas of concentrated structure.

The property is located 48 km south of the Candelaria Mine (400 million tonnes 1 per cent copper, 0.25 grams per tonne gold) discovered by drill-testing induced polarization (IP) anomalies. The Chanchero zone, one of twenty of the large targets on the property, presents a similar opportunity as it hosts an intense IP anomaly which is currently being upgraded with leading edge 3-D IP to test at greater depths. The target, 0.4 to 1.2 km wide and 2.4 km long, is associated with an overlying gold-copper bearing alteration zone that has yielded grab samples ranging between 0.5 and 16.7 grams per tonne gold. The intensity and homogeneity of this chargeability response, coupled with the presence of altered iron oxide-rich porphyritic intrusives hosting copper-gold veins at surface, may indicate a large sulphide rich system is present at moderate depth.

Three drills continue to work at the Copaquire molybdenum-copper-rhenium in northern Chile expanding the resource.


Dr. Gary Medford, P.Geo., President and CEO

The company relies on "forward-looking" statement litigation protection.

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

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