NEWS RELEASE

May 27 , 2003
IVU-V UPDATE

EL TABACO, CHILE DRILL PROGRAM ON TENTH HOLE

The company has completed nine holes to date, two of which are diamond drill holes. Reverse circulation samples have been sent for copper- gold- silver assay and the drill core is being split and logged prior to assay.

All holes have cut copper oxide, and secondary and primary sulphides in some cases, and have been drilled on approximately 100 metre centres.

No assays have been received yet, but results from the first four holes should be ready very shortly

BY ORDER OF THE BOARD

"Gary Medford, PhD., P.Geo."
Director

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