International PBX Ventures Ltd.

International PBX Ventures Ltd.

December 04, 2006 17:44 ET

International PBX Ventures Ltd.: Tabaco Copper Project, Chile-Resource Completed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - International PBX Ventures Ltd. (TSX VENTURE:PBX) is pleased to release its first independent resource estimate for the Tabaco Copper project as prepared by SRK Consulting (Chile) S.A. "SRK".

Highlights include:

- Mineral resource estimates, using a cut-off of 0.2% copper ($5.50 per tonne based on ($1.25 copper) show the deposit to contain an indicated resource of 50.6 million pounds of copper and an inferred resource of 23.7 million pounds of copper.

- The resource model is based on 6637 metres of drilling 67 core holes in 2006, 13 core holes, 7 RC holes and 5 mixed RC/core holes in 2003. Assay samples were collected at 2 metre intervals and analyzed for copper.

The mineral resource statement classified according to CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005) is as follows:

Oxide Zone Primary Sulphide
Resource Classification Tonnage % Copper Tonnage % Copper
Measured - - - -
Indicated 1,827,800 0.59 1,742,600 0.70
Total Measured and Indicated 1,827,800 0.59 1,742,600 0.70

Inferred 836,200 0.59 1,191,900 0.49
- reported at a cut-off of 0.20 percent copper.

These mineral resources, which are not mineral reserves, do not have demonstrated economic viability.


1. All copper mineralization starts at surface or near surface;

2. Sulphide mineralization is open to depth;

3. Extensive additional surface exposed copper oxide mineralization remains to be evaluated on the property by step out drilling. Infill and step out drilling is expected to significantly increase the resource.

The deposit model is based on 25-50 metre vertical sections interpreted by Terence Walker, P.Geo and delivered to SRK. The mineral resource model was prepared by Ernesto Jaramillo and George Even under supervision of Dr. Jean-Francois Couture, P.Geo a "Qualified Person" for the purpose of National Instrument 43-101.

A technical report for SEDAR filing will be supplied by SRK within 45 days.

The information will be evaluated by the company's consulting engineers to obtain recommendations pertaining to moving the project to feasibility and production.


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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