|March 22, 1999
MINING RIGHTS SECURED ON GOLD ZONES
TIERRA DE ORO PROJECT, CHILE The Company is pleased to announce it has completed conversion of the claims covering the seven principle gold zones on its Tierra de Oro property to mining concessions. These new concessions not only secure title in perpetuity, but also convey the right to mine.
On-going surveys, to be completed by next month, will also convert claims covering the remaining exploration targets to mining concessions. At this point, the Company will have secured mining rights to 4,568 hectares of land encompassing twelve gold zones, three copper-silver zones and a cobalt zone.
The gold zones identified to date occur within approximately 30 linear kilometres of gold-bearing structures, only a small portion of which has been explored in any detail by the Company.
The Company is seeking joint venture partners to help develop this large 100% owned property. Several groups have expressed serious interest, but to date no deal - suitable to the Company - has been accepted.
On behalf of the Board of Directors of
"Terence Walker, M.Sc, P. Geo."
The Vancouver Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this Release.
Click here to view the Property Compilation Map.
For further information please contact John Gomez.
INTERNATIONAL PBX VENTURES LTD.
Trading Symbol: IVU - Vancouver Stock Exchange