Ms. Rhonda Bennetto reports

TVI PACIFIC YEAR END RESULTS REINFORCE SOLID FINANCIAL AND OPERATIONAL PERFORMANCE

TVI Pacific Inc. has released audited, consolidated financial and operational results for the year ended Dec. 31, 2010. This news release should be read in conjunction with the audited consolidated financial statements that have been prepared for the first time in accordance with International Financial Reporting Standards (IFRS) and management's discussion and analysis for the years ended Dec. 31, 2010, 2009 and 2008, and filed with certain securities regulators in Canada on March 18, 2011, and also available on the company's website and SEDAR.

Financial snapshot for the years ended Dec. 31, 2010, and 2009:

• Increase in net revenue to $76,732,792 from $66,964,817;
• Steady operating cash flow of $28,459,281 compared with $28,087,630;
• Reliable net earnings before one-time finance charges (1) of $18,653,907 compared with $18,317,842;
• Earnings per share before one-time finance charges (1) were 3.7 cents compared with 1.9 cents for 2009 (2);
• Two thousand ten production cash cost of 99 cents per copper pound equivalent.

(1) One-time finance charges mainly relate to $7.4-million penalties and related charges incurred in the early termination of a loan facility.

(2) Due to the company's conversion to IFRS, the 2009 EPS number has been adjusted from four cents to 1.9 cents. Please refer to note 4 of the consolidated financial statements.

On Feb. 7, 2011, TVI completed its 20th shipment of copper concentrate of 4,997 dry metric tonnes for gross revenue of $10.7-million (subject to final price adjustments).

2010 financial summary

Although net revenue increased year over year, it was lower for the last three quarters due to a change in the shipment schedule, from every four weeks to approximately every six weeks. This was implemented to allow for the planned interruptions in production that were a result of the commissioning process of the zinc circuit.

The surplus of funds from operations for the year ended Dec. 31, 2010, was attributable to revenue from the copper concentrate shipments during the year. A portion of the cash flow surplus and proceeds from the short-term loans were used in the final voluntary prepayment of the term facility in June, 2010.

At Dec. 31, 2010, the company held $8.9-million in cash and cash equivalents that it can reinvest into further growth in the company. The company also held $10.5-million in various short-term debt instruments at an average interest rate of 2.17 per cent. TVI has no long-term debt.

      OPERATIONAL SNAPSHOT QUARTER OVER QUARTER AND YEAR-TO-DATE 2010

                                                 Quarters ended  Year ended
                        March 31,  June 30, Sept. 30,  Dec. 31,    Dec. 31,
                             2010      2010      2010      2010        2010

Copper pound equivalent
(Cu lb eq) produced     8,841,433 5,035,688 6,249,498 5,185,333  25,311,952
Copper produced (lb)    6,930,404 4,111,496 5,140,344 3,740,813  19,923,057
Gold produced (oz)          2,321     1,184     1,379     1,432       6,316
Silver produced (oz)      220,400    76,571    97,676   119,652     514,299
Production cash cost
(U.S. $/Cu lb eq) (1)        0.56      1.13      1.02      1.57        0.99
Average copper price
received (U.S. $/lb)         3.28      3.22      3.30      3.89        3.40

(1) See MD&A for definition of this non-IFRS measure.

2010 operations summary

The average daily throughput for the year ended Dec. 31, 2010, was 2,204 dry metric tonnes per day. TVI is currently targeting an average daily throughput of 2,300 dry metric tonnes per day, which results in a remaining life of mine of approximately 2.5 years.

With its continuous improvement programs, TVI will continue to optimize its throughput in an effort to offset the declining feed grades.

The table details key operating statistics for the Canatuan sulphide mine for the year ended Dec. 31, 2010.

                                                 Quarters ended  Year ended
                          Mar 31,  June 30, Sept. 30,  Dec. 31,    Dec. 31,
                             2010      2010      2010      2010        2010

Total tonnes processed    203,480   187,845   218,525   194,585     804,435
Average tonnes processed
per day                     2,261     2,064     2,375     2,115       2,204
Ore copper grade (%)         1.75      1.22      1.21      1.04        1.31
Copper recovery (%)         88.14     81.41     88.43     83.91       85.93
Concentrates produced
(dry weight -- tonnes)     15,826    10,110    12,680     9,684     48,300
Average daily
concentrates produced
(dry weight -- tonnes)        176       111       138       105         133
Concentrate copper grade
(%)                         19.86     18.45     18.39     17.52       18.71
Concentrate gold grade
(g/t)                        4.56      3.64      3.38      4.60        4.07
Concentrate silver grade
(g/t)                      433.15    235.57    239.60    384.29      331.19
Off take
Copper concentrates
shipped
(dry weight -- tonnes)     15,514    10,533    10,528    10,181      46,756

2011 outlook

Balabag

A second, phase 2 drilling program of 55 new holes began at Balabag on July 26, 2010, and includes further infill drilling in the core area of the Tinago vein and step-out drilling in the down dip mineralized zones identified in phase 1. Phase 2 also includes infill drilling at the Miswi vein and infill and extension drilling at the Lalab vein. The phase 2 drilling program is on schedule with 36 holes completed to date and three presently drilling. An internal feasibility study has been launched and TVI expects to come to a decision regarding a bootstrap mine development plan during the first half of 2011. Social and environmental baseline studies are currently under way along with additional metallurgical testing.

Siennalynn

The stage 1 drilling program under way was designed to assess the extent and quality of the near-surface mineralization and to begin drilling a number of prospects that had potential for new copper resources. It is anticipated that this drilling, along with assays and evaluations, will be completed in the second quarter of 2011.

North Zamboanga tenement area

In December, 2009, the Tamarok MPSA was granted to the original claim holder with whom TVIRD has a contract to acquire full rights to the MPSA at TVIRD's election.

Review of regional data surveys previously conducted over the Tamarok-Tapisa tenements show several interesting clusters of combined geochemical and structural anomalies. TVIRD has initiated with the National Commission on Indigenous Peoples the FPIC process for these tenements in order to secure exploration permits to drill such anomalies.

Drilling is expected to begin on identified targets in the Tamarok area in the second quarter of 2011.

Zamboanga tenement airborne geophysical surveys

As of Dec. 31, 2010, over 6,546 line kilometres (4,067 line miles) have been flown acquiring magnetic/radiometric data covering 119,017 hectares (294,096 acres) of the North Zamboanga tenements. Processing and interpretation of the data are expected to be completed by early 2011. These high-quality data will assist the company in identifying specific exploration targets for future program planning.

A second helicopter survey over the GCTA and a portion of the North Zamboanga tenements is a combination of versatile time-domain electromagnetic (VTEM) and magnetic data. This survey was delayed due to the appropriate equipment being unavailable until late 2010. At the time of writing the VTEM acquisition is nearing completion. These data will assist in the location of mineralization in the vicinity of the Canatuan operations with the goal of providing additional mill feed and mine life.

Other non-core opportunities

TVI is constantly evaluating non-core opportunities for additional revenue. These include possible joint ventures, equipment and facility optimization options, and cost-saving initiatives that can be monetized.

Subsequent events

On March 10, 2011, an arrangement was completed pursuant to which TVI acquired all of the outstanding TG World common shares. Pursuant to the arrangement, TVI Pacific issued approximately 61.5 million shares to acquire ownership and control of the 134,335,870 TG World common shares not owned by TVI Pacific immediately prior to the arrangement. TG World is now a wholly owned subsidiary of TVI Pacific.

We seek Safe Harbor.