January 3 , 2003
Int'l PBX completes Tabaco IP survey
Mr. Gary Medford reports
ZULEMA JOINT VENTURE; TABACO GEOPHYSICAL SURVEY
In order to move ahead with drilling in the new year, the company has
entered into a joint venture agreement with Pathfinder Resources Ltd.
wherein Pathfinder can earn a 70-per-cent interest in the Zulema property
by making total cash payments of $2.01-million (U.S.) and issuing 400,000
shares of Pathfinder to the company as well as 500,000 shares upon completion
of a positive feasibility study, subject to regulatory approval. International
PBX has received $12,500 (U.S.) on signing and refers readers to the Pathfinder
news release in Stockwatch of this date for further details. (SEE BELOW)
The company has also just completed 15 line kilometres
of induced polarization surveying on the Tabaco copper-gold-silver property.
Preliminary data indicate the presence of a substantial anomaly underlying
the known gold, silver and copper mineralization on surface and in previous
shallow drilling on the property, that may be indicative of an underlying
porphyry. Upon receipt of the final report and interpretation the company
will issue a more detailed news release.
BY ORDER OF THE BOARD
"Gary Medford, PhD., P.Geo."
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
INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Tel: (604) 681-7748
Fax: (604) 681-0568
Email: [email protected]
Trading Symbol: IVU - Canadian Venture Exchange