209- 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

Aug 23, 2004

HORNITOS PROPERTY, CHILE- OPTION AGREEMENT NEGOTIATED

International PBX Ventures Ltd. has entered into an option agreement with Aldershot Resources Ltd. to explore its Hornitos property in Region III, Chile. Hornitos covers a portion of the Atacama fault system in an area prospective for large Iron Oxide Copper Gold (IOCG) deposits. The property is in an area of very active exploration by both senior producers and junior exploration companies.

Aldershot can earn a 65 per cent interest in Hornitos by making cash payments of $370,000 and expending $1.3 million in exploration work, of which $260,000 is required to be spent in the first year of a four year agreement.

BY ORDER OF THE BOARD

Gary Medford

Director

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