CALGARY, ALBERTA — (MARKET WIRE) — 09/28/11 — TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF) (“TVI” or the “Company”) announced today that its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. (“TVIRD”), completed its 24th shipment of copper concentrate produced at the Canatuan mine on September 26, 2011.
— 5,369 dry metric tonnes (“dmt”) of concentrate was shipped containing 23.7% copper;
— Gross revenue of US$14.8 million will be received for the shipment; and
— Inventory of 1,255 dmt of copper concentrate is currently in storage.
The Company’s 24th shipment of 5,369 dmt of copper concentrate left the port of Santa Maria in Siocon, Zamboanga del Norte, in accordance with the off-take arrangement between TVIRD and MRI Trading AG (“MRI) on September 26, 2011. TVIRD expects to earn gross revenues of approximately US$14.8 million from MRI for this shipment (pending final assay and price adjustments). Approximately 1,255 dmt of copper concentrate remains in inventory.
Copper production remains steady at the Canatuan mine, achieving copper concentrate grade levels between 23 and 25 percent. It is anticipated that future shipments of copper concentrate will continue every six to eight weeks.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded resource company focused on the production, development, exploration and acquisition of resource projects in the Philippines. TVI produces copper and zinc concentrates from its Canatuan mine, is developing its Balabag gold-silver property for anticipated production in the second half of 2012 and is carrying out an exploration program at its Tamarok copper-gold property. TVI also has oil interests in various stages of discovery, drilling and exploration in Alaska, Niger and off-shore Philippines.
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Source: TVI Pacific Inc.
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