International PBX Ventures Ltd.

International PBX Ventures Ltd.

March 01, 2005 09:01 ET

International PBX Ventures Ltd.: First Hole Completed; Copaquire Moly-Copper Poryphyry,Chile


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INTERNATIONAL PBX VENTURES LTD.

TSX VENTURE SYMBOL: PBX

MARCH 1, 2005 - 09:01 ET

International PBX Ventures Ltd.: First Hole Completed;
Copaquire Moly-Copper Poryphyry,Chile

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2005) -
International PBX Ventures Ltd. (TSX VENTURE:PBX)

The company is pleased to report that the first vertical hole was
completed at the planned depth of 400 metres (1312 feet) and is visibly
mineralized with molybdenite throughout its full length. The first 200
metres repeat a previously drilled vertical hole which averaged 0.11 per
cent Mo (or 2.4lb per tonne Mo). The casing has been left in place to
facilitate re-entry of the hole for possible deepening once assays have
been received.

Hole number 2 has been collared at the same location oriented in a
northerly direction at an angle of -50 degrees. This hole has
encountered even stronger molybdenite mineralization from the top to its
current depth of 200 metres (656 feet) and also hosts copper occurring
as chalcopyrite and locally native copper. This hole will be pushed to
400 metres (1312 feet).

The core is in the process of being split and sent for assay.

Terry Walker MSc., P.Geo. is the qualified person under National
Instrument 43-101 who is in charge of the program.

BY ORDER OF THE BOARD

Terry Walker MSc., P.Geo.

DIRECTOR, PRESIDENT

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

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    International PBX Ventures Ltd.
    Vancouver office
    (604) 681-7748
    (604) 681-0568 (FAX)
    ipbx@uniserve.com
    www.internationalpbx.com
    or
    International PBX Ventures Ltd.
    Bill Koble
    (604) 329-3341
    or
    Robert A Young and Associates
    Investor Relations
    (604) 682-5123 or 1-877-626-2121
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.