PMEA Blog

CALGARY, ALBERTA–(Marketwire - Jan. 16, 2008) - TVI Pacific Inc. (TSX:TVI) (”TVI” or the “Company”) announced today that its Philippine affiliate, TVI Resource Development (Phils.) Ltd. (”TVIRD”), and Atlas Consolidated Mining and Development Corp. (”ACMDC”) have agreed to extend their negotiations respecting the establishment of a joint venture for the development of TVIRD’s Canatuan sulphide project in the Philippines. The Company’s interest in the Canatuan Mine and its other Philippine assets are held through TVIRD.

On December 27, 2007, the Company announced that TVIRD and ACMDC had signed a memorandum of agreement under which TVIRD had received an advance in the amount of 42 million Philippine pesos (approximately US$1 million) from ACMDC, which is secured by an accommodation pledge of 10% of the outstanding capital stock of TVIRD. In connection with the advance, TVIRD granted an option to ACMDC to enter into a joint venture with TVIRD to develop the Canatuan sulphide project. The option, which is scheduled to expire on January 31, 2008 (extended from the intial expiry date of January 15, 2008), is subject to any extensions mutually agreed upon by the parties in writing. Additional information concerning the advance from ACMDC is set out in the news release disseminated by the Company on December 27, 2007.

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