PBX Files New Technical Report

On The Sulfato Copper Resource, Chile

January 12, 2012

VANCOUVER, B.C.– International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) is pleased to announce that it has filed the report “The Copaquire Copper-Moly Porphyry Property  Region I, Chile NI 43-101Technical Report” (“Technical Report”) completed by Independent Consultant Mining Engineer Gino Zandonai, M.Sc. AusIMM  and co-authored by Geological Consultant Mr. Victor Jaramillo, M.Sc.A., P.Geo. at www.SEDAR.com.

The “Technical Report” which expands on the company’s news release of November 30, 2011 provides a preliminary inferred mineral resource for the Sulfato South copper zone of the Copaquire copper-molybdenum property.

Cutoff %CuEq*
Tonnes % Copper  lb Copper % Moly lb Moly % CuEq lb CuEq
0.2 102,069,110 0.32 709,917,818 0.02 34,971,782 0.40 902,262,617

*Metal equivalent data are based on US$ 2.50/lb. copper and US$13.50/lb. molybdenum.  In calculating copper equivalencies 100% metal recoveries have been assumed. The contained metal figures shown are in situ.

The identified inferred resources are located within an area representing only 30% of the surface alteration area that defines the Sulfato South zone and the ultimate depth of mineralization has not yet been drill tested. PBX expects that with more diamond drill holes to the east and south of the current resource block, the probabilities of incrementing the current resources are excellent.

Drilling in 2010 and 2011 has resulted in a new geological model for the Sulfato South copper deposit that can confidently guide future drill resource definition. Also, the ZTEM and Titan geophysical surveys have given excellent drill targets in the Marta Zone, the Skarn Zone and the area between Cerro Moly and Sulfato South.

George Sookochoff, President & CEO of  PBX, states, “With the delivery of the new Copaquire Technical Report the company has achieved another significant milestone in moving the Copaquire Copper Moly project towards production. The Technical Report recognizes for the first time the additional copper value outside of the Cerro Moly area where a 2009 Preliminary Economic Assessment Report (PEA) by AMEC Engineering provided an initial 36,000 tonne per day production rate over a 24 year mine plan for the Cerro Moly resource (NR Nov. 2, 2009).

 Since announcing the additional copper resources in our Nov. 30, 2011 news release a number of third parties have expressed a new interest in the Copaquire project and as such have arranged a series of site visits which are now in progress.

With the Copaquire project now being recognized as a substantial copper project similar to others in the Collahuasi mining camp management expects to enter into discussions with potential suitors or partners.“


“George Sookochoff”

George Sookochoff, President  & CEO

Victor Jaramillo M.Sc.A., P.Geo. a qualified person under National Instrument 43-101 has reviewed and approved the technical disclosure in this news release.

 The property hosts a large porphyry copper-molybdenum system located in the productive Chilean porphyry belt (Domeyko fault system) of northern Chile that includes 30 porphyry Cu-Mo deposits and prospects with the largest copper concentration in the world.  Nearby mines include Teck Resources Quebrada Blanca mine (9km SE),  (1 billion tonnes of 0.5% sulphide copper with 0.02% Molybdenum) and Xstrata/Anglo American’s Collahuasi mine (15km E) (mineable reserve; 5.2 billion tonnes at 0.8% copper and 0.02% molybdenum).

This press release includes Inferred Mineral Resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that the conclusions reached in the Technical Report will be realized.

This press release also contains “forward looking statements” which are subject to risks, both known and unknown, which may affect the outcome of such forward looking statements. Known risks include, but are not limited to, financing risks, commodity price risks, scheduling risks and engineering risks.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.