TVI Pacific Inc.

TVI Pacific Inc.

November 11, 2008 09:00 ET

TVI Pacific Signs Five Year Off-Take Agreement With MRI Trading AG

CALGARY, ALBERTA--(Marketwire - Nov. 11, 2008) - TVI Pacific Inc. (TSX:TVI) or (the "Company") is pleased to announce that the Company's Philippine affiliate, TVI Resource Development (Phils.) Inc. ("TVIRD"), has entered into a five-year off-take agreement with MRI Trading AG of Switzerland ("MRI Trading"), one of the largest global copper concentrates trading houses. MRI Trading has agreed to purchase all the copper concentrates produced from the Company's Sulphide Project at the Canatuan mine and TVIRD has agreed to sell all copper concentrate production from the Canatuan mine exclusively to MRI Trading. Construction of the Sulphide Project at Canatuan is nearing completion and start-up of mining and processing activities is scheduled for mid-November, 2008.

Certain statements in this News Release constitute forward-looking statements, including statements concerning the timing of commencement of mining and processing activities at the Canatuan Sulphide Project and the timing and availability of copper concentrates for shipping. Readers should refer to the cautionary statement that appears at the end of this News Release.

"We are pleased to have signed an agreement with MRI Trading, one of the most active international metals trading houses, as our off-take partner for copper concentrates produced at Canatuan," said Cliff James, President and Chief Executive Officer of the Company. "This off-take arrangement marks a significant milestone for the Company as we are within days of the scheduled start-up of the second phase of operations at the Canatuan mine."

The off-take agreement entered into with MRI Trading also provides for payments to TVIRD on account of silver and gold, to the extent that nontrivial amounts of such metals are included in the copper concentrates purchased by MRI Trading. Copper concentrates produced at Canatuan are scheduled to be available for shipment starting in early 2009. The current transportation plans involve the trucking of copper concentrates approximately 30 kms from the mine site to Santa Maria port. The off-take agreement provides that concentrates will be shipped from that port by MRI Trading in lots of approximately 5,000 tonnes. TVIRD intends to construct a purpose-built warehouse at the port to house and handle the concentrates for export.

About MRI Trading AG

MRI Trading is a top-tier trader of concentrates and other non-ferrous raw materials. It is part of the MRI Group of companies, a leading investment and trading group in the commodities arena. The Group has a global presence through its offices in Beijing and Shanghai, Santiago do Chile, Lubumbashi, Johannesburg, New Delhi, and Brisbane.

About TVI Pacific Inc. (TSX:TVI)

TVI Pacific Inc. is a publicly traded Canadian mining company focused on exploring for and producing precious and base metals within district scale systems in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.) Inc.

Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information received from or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from or disseminated by third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as the occurrence of events that could have a material adverse effect on the business, operations, property or financial condition of the Company and its affiliates; the volatility of prices for precious metals and base metals; commodity supply and demand; fluctuations in currency and interest rates; inherent risks associated with construction activities and the development of mining properties; inherent risks associated with mining and processing operations; ultimate recoverability of mineral reserves; timing, results and costs of construction, development and processing activities; availability of transportation infrastructure for copper concentrates produced at Canatuan; availability of financial resources or third-party financing; new laws (domestic or foreign); changes in administrative practices; changes in plans or budgets; and availability of equipment and personnel. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this News Release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.
Forward-looking information respecting the anticipated timing of commencement of mining and processing activities at the Canatuan Sulphide Project and the anticipated timing of availability of copper concentrates for shipping is based upon progress made to date on the construction of the infrastructure required to support mining and processing activities from the Sulphide zone at Canatuan, advice received from third-party contractors with respect to the timing of various components of the construction project, prior experiences of management with construction and mining activities at Canatuan, the current development plan for Canatuan and the Company's current budget and overall strategy for Canatuan, which plans, budget and strategy are all subject to change. The forward-looking statements of the Company contained in this News Release are expressly qualified, in their entirety, by this cautionary statement. Various risks to which the Company is exposed in the conduct of its business (including mining activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2007, which was filed on SEDAR on March 27, 2008 and is available under the Company's profile at Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.

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

Contact Information