May 6 , 2003
IVU-V UPDATE

EL TABACO, CHILE DRILL PROGRAM TO COMMENCE

A 5000 metre drill program is scheduled to commence tomorrow on the company's copper-gold-silver property in Chile. The program will include 20 to 25 holes using a universal drill rig capable of both reverse circulation and diamond drilling. The program will be supervised by Terence Walker, MSc.,P.Geo. , a Qualified Person (NI43-101), and is expected to last about six weeks. First assay results should be available in about two weeks.

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