The company wishes to inform its shareholders that, further to our January 17th, 2002 news release, the Company has entered into an agreement with vendors Fayz Yacoub, Geologist, and Terra Resource Management Ltd. to acquire a 50 claim property (approximately 2500 Hectares) located 70 km SSW of the Otish Mountains diamond discovery. Subject to receipt of documentation of ownership, the Company will acquire a 100% interest in the property subject to a 2 percent net profits interest payable to the vendors. The Company will pay $15,000 and 200,000 shares in total, $5,000.00 of which has been paid on signing.
ON BEHALF OF THE BOARD
The Canadian Venture Exchange has neither approved nor disapproved
the information contained in this release.
This release contains �forward
looking statements� within the meaning of
INTERNATIONAL PBX VENTURES LTD.
Trading Symbol: IVU - Canadian Venture Exchange