TVI Pacific Inc.

TVI Pacific Inc.

June 25, 2012 08:00 ET

TVI Pacific Inc.: Service Contract 54 Sub-Phase 6 Extension

CALGARY, ALBERTA--(Marketwire - June 25, 2012) - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (TVI or the Company) announces that Nido Petroleum Philippines Pty Ltd, a subsidiary of Nido Petroleum Limited (ASX: NDO, 'Nido'), as Operator of Service Contract 54, on behalf of the SC 54A and SC 54B Joint Venture Partners, advised that the Philippines Department of Energy ('DOE') have agreed to extend Sub-phase 6 for a period of twelve (12) months from August 4, 2012 to August 4, 2013. TVI owns a 12.5% interest in SC 54A through its wholly-owned subsidiary TG World (BVI) Corporation.

The twelve (12) month extension to Sub-Phase 6 will enable Nido, on behalf of the Joint Venture Partners, to complete the ongoing 2D seismic processing projects over the Lawaan-Libas Prospects in SC 54A and the Pawikan Lead in SC 54B, and to fully integrate the results and implications of the new seismic data into the subsurface geological models and prospect maturation.

SC 54A Working Interests
Company Present %
Nido Petroleum Philippines Pty Ltd(Nido, ASX: NDO) 42.40 (Operator )
Yilgarn Petroleum Philippines Pty Ltd (Kairiki, ASX: KIK) 30.10
Trafigura Ventures III B.V. (Trafigura) 15.00
TG World BVI Corporation (TG World) 12.50
Total Interest

About TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF)

TVI Pacific Inc. is a publicly-traded Canadian company that is focused on the production, development, exploration and acquisition of resource projects in the Philippines. TVI produces copper and zinc concentrates from its Canatuan mine, is pre-developing its Balabag gold and silver project. TVI also has an interest in an offshore Philippine oil property.

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