Tabaco Project Update

(Vancouver) – George Sookochoff, CEO of International PBX Ventures Ltd.  (TSX.V - PBX) announced today the completion of a short drill program on its Tabaco copper property in Chile.

Drill hole 84-08 was completed to a depth of 497 metres. The drill hole tested one of three 3D induced polarization (IP) chargeability anomalies located on the property. Preliminary observations show the hole encountered manto-style copper mineralization. However porphyry copper mineralization was not encountered in this hole and the geophysical anomaly is believed to be caused by lithological variation in the host volcanic package.
 
Observations of the drill core indicate mineralized intercepts were encountered within the metasediments in the upper part of the hole. From 61.0 to 65.0 meters and from 81.0 to 107.0 meters disseminated chalcopyrite was observed whilst from 129.0 to 215.6 meters occasional small zones of covellite coating pyrite were noted. Drill samples have been sent to ALS Laboratories in La Serena, Chile, for analysis.

PBX has added an additional 3,800 hectares to its original 2,500 hectare Tabaco land package. “With Teck Cominco’s recent offer to acquire the adjacent Global Copper Relincho copper deposit for $415 million, we felt it important to take advantage of  the Tabaco copper property’s favourable location and expand PBX’s land position in what is becoming an exciting exploration area of Chile.” said Mr. Sookochoff.

About PBX
International PBX Ventures is a Canadian junior mining and exploration company focused on acquisition and development of copper, molybdenum and gold properties in Chile. PBX's shares trade on the Toronto Venture Stock Exchange under the symbol PBX.

This news release has been reviewed by G. Medford, a qualified person under NI43-101, and president and director of the company.

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

                                                                       
George Sookochoff, 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.

©2008 International PBX Ventures Ltd.