January
3 , 2003
IVU-V UPDATE
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."
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
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