IBX Announces Closing of Second Private Placement

December 19, 2008

Vancouver, BC � December 19, 2008  INTERNATIONAL BARYTEX RESOURCES LTD. (�the Company�) (TSX-V: IBX) is pleased to announce that it has closed the second private placement to Sea Wave Investment Ltd. (�Sea Wave�) of 3,226,370 shares at a price of $0.12 CDN for gross proceeds of $387,164 to the Company.  This current share placement will result in 24.4% of the Company being held by Sea Wave on a diluted basis (including 3.2 million warrants exercisable at $1.25 CDN currently held by Sea Wave) and Sea Wave will become a control party to the Company.

This private placement by Sea Wave, together with its initial private placement which closed on November 19, 2008, are part of the Agreement entered into by Touch Lucky Investments Ltd. (�TLIL�) to purchase 100% interest in the Company�s subsidiary, East China Capital Holdings Ltd. (�ECCH�), which holds a 75% interest in the Shituru Copper project located at Likasi in the Democratic Republic of Congo (�DRC�).  Given the completion of the sale, the Company�s total share of the ECCH sale proceeds will be $10.710M USD.

The Company is of the opinion that the sale of its portion in ECCH and the Shituru Copper project is in the best interest for the shareholders and management is optimistic that the resulting cash will leave the Company financed to pursue and capitalize on other business opportunities. 

The shares issued from the current private placement and those from the initial placement which closed on November 19, 2008 are subject to a 4 month hold and may not be traded before then except as permitted by, and subject to, applicable securities laws and the TSX Venture Exchange.  The sale of ECCH remains subject to the completion of a due diligence review by TLIL. 

For further information contact:

On behalf of the Board of Directors
INTERNATIONAL BARYTEX
RESOURCES LTD.

�Leo King�
Leo King
President and Director

Some statements in this news release contain forward-looking information.  These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.