November 6 , 2003
TSX.V: PBX

ZULEMA : CHILEAN COPPER-GOLD PROJECT JOINT VENTURE PROGRESSES

The Company has reviewed the drill program conducted by our joint venture partner (PHR news release, November 3,2003) and concurs with the observation that Candelaria type sulphide mineralization has been encountered. Candelaria is an open pit mine, located 30 km east of Zulema, wherein historical production plus reserves total about 500 million tonnes grading 0.95 per cent copper and 0.22 g/t gold. The geological and geophysical setting of Zulema indicate a target of comparable potential size and our joint venture partner intends to aggressively continue with further geophysical surveying and drilling. The Company will retain a 30 per cent interest in the property.

BY ORDER OF THE BOARD

"Gary Medford, PhD., P.Geo."
Director

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

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INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Toll-Free: 888-999-7748
Tel: (604) 681-7748
Fax: (604) 681-0568
www.internationalpbx.com
Email: [email protected]

Trading Symbol: IVU - Canadian Venture Exchange