TVI Pacific Inc.
TSX : TVI

TVI Pacific Inc.

November 08, 2005 10:14 ET

TVI Pacific Inc.: Rapu Rapu Project Update

CALGARY, ALBERTA--(CCNMatthews - Nov. 8, 2005) - TVI Pacific Inc. (TSX:TVI):

- Base metals commissioning commences, pre-commissioning complete

- Stable base metals production forecasted for June, 2006

- Exploration on Hixbar sulphides to commence


The Rapu Rapu project, located in the province of Albay, Philippines, is a polymetallic mining project which a group of companies including Lafayette Mining Limited, a publicly traded Australian company, is developing.

TVI retains a 2.5% net smelter return royalty (NSR) in the project.

The following is a verbatim reproduction from a Lafayette news release
issued on November 7, 2005

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Rapu Rapu commences Base Metals Commissioning

Lafayette Mining Limited today announced that it has commenced the commissioning phase of the base metals flotation treatment plant at the Rapu Rapu Project.

"This is an important phase of the Project as revenues from the production of copper, gold and zinc underpin the project's economics for the next six years," Lafayette's Managing Director, Andrew McIlwain, said. "Importantly, this is occurring at a time when copper and zinc commodity prices are at or near record levels."

Pre-commissioning of the flotation plant has been completed with particular focus on the areas that created delays during the commissioning of the gold plant. "One of the key benefits of how the project was planned is that the crushing, grinding and tails handling systems have been commissioned and operated during the gold campaign," said Mr McIlwain.

Changeover to base metals production will see the curtailment of gold production from the oxide resource. Significantly, during operations it has been identified that more gold oxide resource exists than was originally modelled and this will be scheduled for processing at the end of the base metal production.

The forecast commissioning plan will see the plant achieve stable production by the fourth quarter (June 2006) where 2,500 tonnes of copper and 4,200 tonnes of zinc will be produced in concentrate, along with the associated gold and silver contained within the copper concentrate, from the processing of 250,000 tonnes of ore will be achieved.

Recent exploration drilling results at the nearby Hixbar deposit have delivered resources that will extend the current planned mine life. Further exploration work, to be commenced following the Christmas wet season, will be focused on delivering additional resources from the already known deeper Hixbar sulphide mineralization.

"Lafayette's announcement is great news for TVI shareholders" said Clifford James, President and CEO of TVI Pacific Inc. "Completion of the pre-commissioning of flotation plant at Rapu Rapu and forecasted stable base metal production by June, 2006 means TVI's cash payments without any costs from its 2.5% NSR royalty are on schedule and will continue to increase as the project proceeds to completion. In addition, any discoveries from Lafayette's commencement of exploration on the Hixbar sulphide mineralization will increase the life and value of TVI's NSR royalty."

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About TVI Pacific Inc. (TSX: TVI)

TVI Pacific Inc. is a publicly-listed (TSX:TVI) mining company focused on exploring and producing precious and base metals within district scale systems in Asia.

In the Philippines, TVI's most advanced project, the Canatuan Mine, the first, new, foreign-invested mine in many years, began mining and milling operations in mid 2004, and is now producing gold and silver in excess of 700 dmtpd (110 AuEq oz per day) from a gossan/oxide zone. Further expansion is underway. Subject to receiving a positive feasibility study, which has been initated, TVI's expansion plans for 2006 contemplate the construction of a sulphide flotation plant at Canatuan to process both copper and zinc concentrates from a sulphide zone. TVI holds a 2.5% net smelter return (NSR) royalty on the Philippine-based Rapu Rapu project, the second foreign-invested, new, mining project in the Philippines, which recently commenced operations, with royalty cash flow to TVI beginning in Q4, 2005. Exploration in the Philippines is being conducted at Canatuan (both to expand TVI's resource base and to find new deposits), and at Balabag, which management of TVI views as a compelling exploration property, located in North Zamboanga, near Canatuan. Extensive applications have also been filed on a new copper-gold mineral district, also near Canatuan, on which exploration is planned in the near future.

In China TVI's wholly-owned Chinese subsidiary, Hunan Pacific Geological Exploration Inc. (HPGEI) is the first foreign mining company to be granted both WOFE status and a Qualified Explorer Licence. HPGEI has four areas of interest; the Shuikoushano and Haoya gold exploration projects, areas of interest in the Golden triangle region on which exploration licences have been filed, and Tibet where initial exploration has commenced.

TVI also has a Drilling Division, based in both the Philippines (EDCO) and China (HPD), which generates revenue from contract drilling.

Ian Perry, P.Geo. of Norwest Corporation, serves as TVI's "Qualified Person" (for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Deposits) on this project, has reviewed this news release.

The statements herein that are not historical facts are forward-looking statements. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "anticipate" or "will" and similar expressions) may include plans, expectations, opinions, or guidance that are not statements of fact. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties that could cause actual results or outcomes to differ materially from those anticipated or implied by forward looking statements. The forward-looking statements of TVI Pacific Inc. contained in this News Release are expressly qualified, in their entirety, by this cautionary statement. Additional risks relating to the Corporation's operations at Canatuan are contained in TVI's Annual Information Form, which has been filed with securities regulatory authorities in Canada and is available at www.sedar.com and on the Corporation's web site at www.tvipacific.com.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

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