International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

July 11, 2008 09:00 ET

International PBX Ventures Ltd.: Tierra de Oro Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2008) - International PBX Ventures Ltd. (TSX VENTURE:PBX) announced today the results of the Tierra de Oro drill program.

The 7,000 metre shallow reconnaissance reverse circulation drill program tested a series of criss-crossing major structural gold-mineralized shears as evidenced by extensive artisanal pits and surface sampling.

The drill results were inconclusive in that they failed to corroborate the gold values obtained by surface sampling programmes. However areas of significant silver - copper mineralization hosted in shears and mantos within the volcanics were identified which justify additional work. Highlights include RC56, which intersected 40 metres of 16 g/t silver including 13 metres of 40 g/t silver. RC58 intersected 40 metres of 8.2 g/t silver.

The Chanchero area continues to be of interest in that the shallow drilling carried out to date did not test the potential of the porphyry. The drilling did not test beneath the leached zone to cut the large 3D IP anomaly identified in the 2007 3D IP survey. Gold and base metal mineralization which is zoned peripheral to the porphyry is suggestive that this system may be mineralized.

About PBX

International PBX Ventures is a Canadian junior mining and exploration company focused on acquisition and development of molybdenum, copper and gold properties in Chile. PBX's flagship property is the Copaquire Molydenum-Copper deposit located in northern Chile adjacent to Teck Cominco's Quebrada Blanca property. PBX's shares trade on the TSX Venture Exchange under the symbol PBX.

This news release has been reviewed by G. Medford, a qualified person under NI 43-101, and director of the company.

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

George Sookochoff, President & 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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