International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

November 06, 2006 18:43 ET

International PBX Ventures Ltd.: Copaquire Property, Sulfato Copper Zone Drilling Completed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) - International PBX Ventures Ltd. (TSX VENTURE:PBX) -

The company is pleased to announce that it has now completed its planned 4,642m reverse circulation drill program on the Sulfato secondary copper zone. The objective was to test the extent of a secondary copper mineralization blanket and the program has been highly successful. Results are as follows:



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Hole # From (m) To (m) Width (m) % Cu Comments
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CQ 13 92 186 94 0.53 Secondary
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including 94 140 46 0.70
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160 186 26 0.56
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CQ 14 112 154 42 0.24 Secondary
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including 112 140 28 0.27
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CQ 15 72 114 42 0.16 Secondary
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120 154 34 0.15 Secondary
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CQ 16 280 344 64 0.36 primary
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including 300 316 16 0.49
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CQ 17 94 148 54 0.29 Secondary
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including 94 102 8 0.39
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128 148 20 0.35
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CQ 18 76 100 24 0.31 Secondary
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including 84 90 6 0.76
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CQ 19 44 54 10 0.41 Secondary
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76 86 10 0.21
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CQ 20 130 154 24 0.41 Secondary
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180 188 8 0.33 primary
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254 258 4 1.25 primary
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CQ 22 94 104 10 0.40 Secondary
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186 192 6 0.58 primary
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246 254 8 0.29 primary
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CQ 23 120 138 18 0.60 Secondary
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338 400 62 0.35 primary
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including 338 362 24 0.43 primary
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CQ 24 62 76 14 0.33 Secondary
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CQ 25 72 80 8 0.32 Secondary
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CQ 26 54 86 32 0.52 Secondary
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CQ 27 68 112 44 0.48 Secondary
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CQ 28 44 118 74 0.43 Secondary
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including 44 86 42 0.53
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CQ 29 42 72 30 0.68 Secondary
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CQ 30 48 68 20 1.00 Secondary
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Holes 14,15,17,20,26 and 27 are inclined at -50 to -60 degrees E, holes 13,16,18,21,22,24 and 25 at -55 to -60 degrees W, holes 19 and 23 are vertical and holes 28-30 inclined at -55 to -60 degrees S. Hole 21 did not intersect significant widths of copper grading greater than 0.1% over 4 metres. The location of all holes and diagrams will be posted on the company website.

The current phase of drilling has demonstrated to the Company that a leachable secondary copper sulphide zone of at least 2 sq. km. in extent exists below the intense zone of surface oxidation at Sulfato. This zone is open to expansion to the south and east. The company will assess the information with a view to planning a resource drilling program.

Terry Walker, P.Geo., is the qualified person responsible for the technical content of this news release and manager of exploration in Chile. This information should be considered preliminary exploration data.

Diamond drilling is continuing on the Cerro Moly zone of the Copaquire property with a view to establishing a molybdenum resource.

Preparations are being made to drill the Tierra de Oro gold property, however, the contractor has delayed delivery of the drill.

On Tabaco we still await the resource report from SRK Consultants but it is expected to be imminent.

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

Terence Walker, Vice President Exploration

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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