International PBX Ventures Ltd.
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News Release:    COPAQUIRE MOLYBDENUM-COPPER-RHENIUM PORHYRY, CHILE
CLARIFICATION AND CORRECTION

April 16 , 2007

International PBX Ventures Ltd. would like to clarify the news release of 12 April 2007.  Only the 30 metre section of drill hole CQ-42 which reported 0.481 g/t rhenium was assayed. No other rhenium assays have been obtained from Copaquire at this time, however, the company has initiated a check of other sections that will be reported as soon as possible.

The company has also determined that the price of rhenium obtained from www.taxfreegold.co.uk/rheniumpricesusdollars.html  to be in error with the correct price being approximately $7500 per kilogram or $7.50 per gram. Chile is an important supplier of rhenium, having supplied 88 per cent to the United States during the time period 2000-2003.

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.