PBX Addresses Canadian Technical Information
Disclosure With the British Columbia Securities Commission

VANCOUVER, BRITISH COLUMBIA - International PBX Ventures Ltd. (PBX:TSX.V)

On January 13, 2012, the British Columbia Securities Commission (the "BCSC"), the securities regulatory authority in the Province of British Columbia, Canada, delivered a letter to International PBX Ventures Ltd. (the "Company") stating that it had conducted a review of the Company's recently filed January 10, 2012 technical report (the Report) supporting its November 30, 2012 news release disclosing a material change to its mineral resource estimate for its Copaquire property in Chile. Based upon this review, the BCSC identified a number of deficiencies in the Report and has requested the company to file a new technical report.

1. Mr. Zandonai, M.Sc. who has authored the Report is a member of good standing with the AusIMM (The Australasian Institute of Mining and Metallurgy), which was previously an acceptable membership designation according to Appendix A of the Companion Policy 43-101 CP to National Intstrument 43-101. However under new rules MAusIMM is no longer an accepted professional designation and a QP must either be an FAusIMM or an MAusIMMChartered Professional to which Mr. Zandonai is not.

Mr. Zandonai M.Sc. is also a Professional Member of the SME (Society for Mining, Metallurgy, and Exploration Inc.). However according to Appendix A of the Companion Policy 43-101 CP to National Instrument 43-101 only Registered Members of the SME qualify as QP. Because Mr. Zandonai is not currently a QP, the Company is preparing anew currentreport authored by Qualified Persons, as required by NI 43-101.

2. The Commission has also requested additional information to clarify the status of the 2009 PA and economic analysis and to indicate if the pending amended report will contain a current economic analysis for its Copaquire property.

Although the November 30, 2012 news release stated that summer 2011 drill programs objectives were to complete an initial resource on part of the Sulfato South copper zone, delineating a higher grade starter pit for the 2009 AMEC Engineering mine plan and gathering data for metallurgical, hydrological and geotechnical studies the Company would like to clarify apparent uncertainties on this issue in that the amended Report focuses on the geology and the exploration of new copper mineralized targets outlined at Sulfato South, Sulfato North and Marta zones during 2010 and 2011, and to an inferred resource on a small area within the Sulfato South copper zone. The Reportdid not include any updated economic analysis and omitted a summary of the updated preliminary assessment (PA) of the previous 2009 Preliminary Assessment report on Cerro Moly Zone titled �Preliminary Assessment on the Copaquire Property, Region I, Chile National Instrument 43-101 Technical Report� by AMEC Mining and Metals S.A. dated December 13, 2009. However, the Company believes its 2009 Cerro Moly PA remains relevant to the Copaquire Property, and anticipates anew current report willconfirm this and willincludea summary of the 2009PA. The new report authors will review the2009 PA and determine if itis still valid and if it should be carried forward in the Company's new current report.

The company is taking immediate steps to address these deficiencies and asks the public not to rely on the information in the technical report and mineral resource estimate until a new compliant technical report is filed.

Mr. Victor Jaramillo, M.Sc.A., P.Geo is the qualified person under National Instrument 43-101. Mr. Victor Jaramillo has reviewed and approved the scientific and technical information contained in this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF

INTERNATIONAL PBX VENTURES LTD.

�George Sookochoff�

George Sookochoff, President & CEO