608 - 475Howe Street
Vancouver, BC Canada V6C 2B3
TEL: (604) 681-7748 • FAX: (604) 681-0568
TSX VENTURE EXCHANGE SYMBOL: PBX
EMAIL: [email protected]
WEB SITE: www.internationalpbx.com

 

MAY 12, 2004

COPAQUIRE WORK PROGRAM COMMENCES

The company is re-establishing road access to the Copaquire copper, molybdenum porphyry project with the intention of initiating comprehensive geological, geochemical and geophysical programs including induced polarization and magnetic surveys. The 15 square kilometer property is 20 km west of the Collahuasi copper mine (16.2 million tonnes of contained copper). See the company news release of January 12, 2004.

The company has completed extensive geochemical sampling and geophysics on the the Tabaco property. Not all samples and check analyses have been received from the laboratory. Preliminary results, however, indicate the presence of an additional mineralized copper horizon with significant gold and silver values. The company is currently evaluating the results of its work programs and developing its future plans which will include additional drilling .

Surface sampling has also been completed on the Sierra Pintada property with the majority results yet to come from the laboratory.

Work on the Tierra de Oro has culminated with the discovery of yet another significant gold zone 500 metres east of the Inca zone. Chip samples received to date from old workings range as high as 31.6 grams per tonne gold over 1.2 metres.

The company will release more detailed results once all assays and check assays are received from the laboratory.


BY ORDER OF THE BOARD

Terry Walker

PRESIDENT, DIRECTOR

The TSE 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

Contact: Robert A. Young: 1 877 626 2121
Vancouver office 604 681 7748