TABACO COPPER GOLD SILVER PROPERTY - CHILE
The Company, through its wholly owned subsidiary
Minera IPBX Limitada-Chile, has entered into an agreement
to acquire the "Tabaco" copper-gold-silver skarn/porphyry
property. Upon completion of a due diligence period expiring
June 30, 2002 the Company may enter into a formal agreement
by paying $US 10,000 with additional option payments of $US90,000
over 18 months. Upon completion of an exploration program
satisfactory to the Company, a 100 percent interest in the
property can be acquired upon payment of $US 2,000,000 in
stages within four years.
The property supported high grade underground copper production
in the 1960's and recent sampling has indicated appreciable
gold and silver mineralization that was overlooked. Results
from 48 holes previously drilled has encouraged the Company
to re-evaluate the property as an open pit possibility.
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
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