209 - 475Howe Street
Vancouver, BC Canada V6C 2B3
TEL: (604) 681-7748 • FAX: (604) 681-0568
Canadian Venture Exchange Symbol: PBX
EMAIL: [email protected]
WEB SITE: www.internationalpbx.com

OCTOBER 4, 2004

TIERRA de ORO, CHILE - INCA ZONE EXTENSION, NEW ZONE DISCOVERED

International PBX Ventures Ltd. is pleased to report additional assays from detailed surface mapping and sampling programs on its wholly owned, 4456 hectare Tierra de Oro property which covers the Sierra Chanchero gold camp containing over 35 linear km of gold bearing structural zones ranging from 50 to 350 metres in width.

The subject of this news release is assays from detailed chip sampling and residual soil surveys extending 500m north and 900m east of the previously explored INCA zone. This area contains old workings and test pits on structure veins which are part of the northern extension of eastern most “INCA main vein swarm” (see NRL March 16, 2004) and, 450 m to the east, a new zone of similar auriferous structures and veins from 0.5 to 3.0 metres wide. This new zone contains fewer old workings but can be traced along strike for over 400 metres through a strong gold-in-soil anomaly.

Twenty two “vein” and wall rock chip sample assays have been received from this area. The ‘vein’ assays range in value from 0.13 g/t to 31.9 g/t gold and in widths from 1.0 to 2.5 metres.

The weighted average gold grades of the ‘vein’ assays received from the 150 metre northern extension of the “east INCA main vein swarm” is 9.35 g/t over 1.6 metres. The weighted average gold grade of all fifteen new and previous assays from the 400m strike of the ‘main vein’ from this swarm sampled to date is 8.1 g/t over 1.7 metres.
‘Vein’ assays from the new zone are limited to five widely spaced old pits and range in gold grade from 0.19 g/t over 3.0m to 4.93 g/t over 1.7m.

Chip sample assays from the intervening wall rocks in both zones (i.e. areas between high-grade veins) range from 0.06 to 0.24 g/t gold and average about 0.2 g/t gold.

All samples were collected by experienced samplers and geologists under the supervision of T. Walker M. Sc. P. Geo., the designated qualified person as defined by National Policy Instrument NI43_101. All samples were analysed in Chile at the ALS-Patagonia Laboratory, Coquimbo.

BY ORDER OF THE BOARD

Terry Walker
DIRECTOR

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