International PBX Ventures Ltd.
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News Release:          MINERAL RESOURCE ESTIMATION,
                                     TABACO COPPER
PROJECT, CHILE
                                  ( CORRECTION)

January 31 , 2007

The news release issued by the company January 30, 2007 should state that the report  “Mineral Resource Estimation Tabaco Project, Region III, Chileis dated 25 January 2007, not 2005.

ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.

                                                                       
Gary Medford, Ph.D., P.Geo.
PRESIDENT AND CEO

Office:         604 681 7748
Toll Free: 1 877 681 1154

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.

©2007 International PBX Ventures Ltd.