VANCOUVER, B.C. – International PBX Ventures Ltd. (“PBX” or the "Company") (TSX.V:PBX) provides its shareholders with the following update.

Oz Exploration Chile Limitada a subsidiary of Australian based Oz Minerals (“Oz”) has provided an update on its activities at the Copaquire project in Chile.  Copaquire is comprised of three seperate permit areas, Marta, Cerro Moly and Sulfato. OZ initial focus at Copaquire was to gain a broader geological understanding of the Copper;Molybdenum Porphyry system by undertaking a detailed geological mapping program to aid in assisting for location of targets outside of the main Sulfato area. The greater understanding and emphasis placed on the geology has in conjunction also recognized targets for water bearing aquifers which need to be tested to enable IPBX to complete a water exploration report by end Q1, 2013. To date Oz has completed approximately 4000 metres of drilling on geological targets and results are expected from this drilling later in February. Of interest to the long term viability of the project is that three of the four holes completed to date have intersected water with one potentially significant aquifer intersected in the course of drilling. Further test work will be conducted by IPBX at a later stage to further assess the aquifers potential...

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