July 3, 2009
[TSX: TVI]
TVI PACIFIC ANNOUNCES
COURT APPROVALS RELATING TO CLASS-ACTION PROCEEDINGS
TVI Pacific Inc. (TSX: "TVI" or
the "Company") announced today that the Settlement Agreement
previously entered into by the Company in relation to the class-action
proceedings commenced in Ontario by Joe Marcantonio and in Québec by
Florent Audette has been approved by the courts in Ontario and Québec.
Approval of the Settlement Agreement was granted by the Ontario Superior Court
on June 17, 2009 and by the Québec Superior Court effective June 22,
2009.
This news release should be read in
conjunction with the Company's prior news release on April 22, 2009, announcing
the Settlement Agreement and with the Notice of Class Actions and Proposed
Settlement issued on May 13, 2009, both of which have been posted on the
Company's website at www.tvipacific.com.
As noted in the Company's April 22, 2009,
news release and in the Notice of Class Actions and Proposed Settlement, the
settlement does not represent an admission of liability, wrongdoing or fault on
the part of any of the defendants (including TVI and its current directors).
All of the defendants have denied, and continue to deny, the allegations made
against them in the class action proceedings.
About TVI Pacific
Inc. (TSX: TVI)
TVI Pacific Inc. is a publicly traded
Canadian mining company focused on exploring for, developing and producing
precious and base metals within district-scale systems in the Philippines.
The Company's interest in the Canatuan Mine and its other Philippine assets are
held through its affiliate, TVI Resource Development (Phils.) Inc.
Further Information: Investor
Relations - 403-265-4356 or tvi-info@tvipacific.com
The Toronto
Stock Exchange has neither approved nor disapproved of the information
contained herein.
2000, 736 - 6 Avenue
S.W. Calgary, Alberta T2P 3T7 Tel: (403)
265-4356 Fax: (403) 264-7028
Website: http://www.tvipacific.com
E-mail: tvi-info@tvipacific.com