- 475 Howe Street
Vancouver, BC Canada V6C 2B3
TEL: (604) 681-7748 • FAX: (604) 681-0568
Canadian Venture Exchange Symbol: PBX
EMAIL: [email protected]
WEB SITE: www.internationalpbx.com
May 12 , 2005
COPAQUIRE MOLY-COPPER PORYPHYRY, CHILE CERRO MOLY CLARIFICATION
The company would like to clarify some apparent confusion respect to the actual size of the Cerro Moly target referred to in its most recent press release. The company would like to re-iterate that:
The holes drilled at Cerro Moly confirmed the grades and concentrically zoned molybdenum – copper system at Cerro Moly identified by Placer in their 1977 diamond drill program.
The target at Cerro Moly has not been reduced in size; in fact, it has been expanded to about 1.5 billion tonnes and is open to expansion to the northeast, southwest and at depth. The drilling has confirmed the molybdenum core on average grades in the order of 0.08 per cent (1.76lb per tonne) Mo.
The average grade of the molybdenum zone indicated by IPBX and Placer holes places Cerro Moly in the top 5% of known deposits of this type.
The hole drilled at Sulfato and five prior Cominco holes in the same area penetrate the copper zone and touch the copper-molydenum zone and suggest these two targets are part of the same huge system with total target in the range of 3 – 5 billion tonnes.
Please refer to our web site for further details. More information will be added shortly.
BY ORDER OF THE BOARD
Terry Walker MSc., P.Geo.
Vancouver office 604-681-7748
Bill Koble 604-329-3341
Robert A Young and Associates 604-682-5123
Investor Relations 1-877-626-2121
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.