Mr. George Sookochoff reports

INTERNATIONAL PBX VENTURES COMPLETES NON BROKERED PRIVATE PLACEMENT

International PBX Ventures Ltd. has closed its private placement financing previously announced in Stockwatch on Aug. 10, 2010. The full private placement was oversubscribed such that the previously announced non-brokered private placement of 1.5 million units at a price of 20 cents per unit for total gross proceeds of $300,000 resulted in total gross proceeds of $378,500 and the company's issuance of a total of 1,892,500 units. The units are subject to a hold period of four months and one day from the date of issuance.

Each unit consists of one common share of the company and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase a further common share at a price of 30 cents per share for a period of one year subject to an acceleration event, which shortens the exercise period to 30 days after the company gives notice to the warrantholders that the company's stock has traded for 10 consecutive days at 40 cents or higher.

The company paid total cash finders' fees of $3,000 in connection with the private placement.

The proceeds of the private placement will be used for continued exploration and working capital on its Copaquire copper-molybdenum-rhenium project located in Chile's copper-molybdenum-porphyry belt.