International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

April 16, 2007 07:30 ET

International PBX Ventures Ltd.: Copaquire Molybdenum-Copper-Rhenium Porhyry, Chile Clarification and Correction

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 16, 2007) - International PBX Ventures Ltd. (TSX VENTURE:PBX) would like to clarify the news release of 12 April 2007. Only the 30 metre section of drill hole CQ-42 which reported 0.481 g/t rhenium was assayed. No other rhenium assays have been obtained from Copaquire at this time, however, the company has initiated a check of other sections that will be reported as soon as possible.

The company has also determined that the price of rhenium obtained from www.taxfreegold.co.uk/rheniumpricesusdollars.html to be in error with the correct price being approximately $7500 per kilogram or $7.50 per gram. Chile is an important supplier of rhenium, having supplied 88 per cent to the United States during the time period 2000-2003.

ON BEHALF OF THE BOARD OF DIRECTORS OF INTERNATIONAL PBX VENTURES LTD.

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

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

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

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