3 , 2003
PBX completes Tabaco IP survey
Mr. Gary Medford reports
ZULEMA JOINT VENTURE; TABACO GEOPHYSICAL SURVEY
In order to move ahead with drilling in the new year, the company has
entered into a joint venture agreement with Pathfinder Resources Ltd.
wherein Pathfinder can earn a 70-per-cent interest in the Zulema property
by making total cash payments of $2.01-million (U.S.) and issuing 400,000
shares of Pathfinder to the company as well as 500,000 shares upon completion
of a positive feasibility study, subject to regulatory approval. International
PBX has received $12,500 (U.S.) on signing and refers readers to the Pathfinder
news release in Stockwatch of this date for further details. (SEE BELOW)
The company has also just completed 15 line kilometres of induced polarization
surveying on the Tabaco copper-gold-silver property. Preliminary data
indicate the presence of a substantial anomaly underlying the known gold,
silver and copper mineralization on surface and in previous shallow drilling
on the property, that may be indicative of an underlying porphyry. Upon
receipt of the final report and interpretation the company will issue
a more detailed news release.
BY ORDER OF THE BOARD
The TSX Venture Exchange
has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
The company relies on forward-looking statement litigation protection
INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Tel: (604) 681-7748
Fax: (604) 681-0568
Email: [email protected]
Trading Symbol: IVU - Canadian Venture Exchange