TVI Pacific Inc. Completes 28 th Shipment of Copper Concentrate
N E W S R E L E A S E
TSX: TVI OTCQX: TVIPF May 10, 2012
TVI Pacific Inc. Completes 28th Shipment of Copper Concentrate
CALGARY, ALBERTA - 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 28th shipment of copper concentrate produced at the Canatuan mine, on May 7, 2012.
- 5,622 dry metric tonnes (dmt) of concentrate was shipped containing 18.93% copper;
- Gross revenue of US$12.4 million will be received for the shipment; and
- Inventory of 1,807 dmt of copper concentrate is currently in storage.
The 28th shipment of 5,622 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 May 7, 2012. TVIRD expects to earn gross revenue of approximately US$12.4 million from MRI for this shipment (pending final assay and price adjustments). Remaining in inventory is approximately 1,807 dmt of copper concentrate.
Production remains steady at the Canatuan mine, achieving copper concentrate grade levels between 18 and 25 percent. TVIRD anticipates that future shipments of copper concentrate will continue approximately every eight weeks.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded Canadian company that is 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 pre-developing its Balabag gold and silver project, and is carrying out exploration programs on its other North Zamboanga tenements. TVI also has an interest in an offshore Philippine oil property.
Raina Vitanov Laureen Dukart Vice President, Investor & Corporate Relations Investor Relations Coordinator TVI Pacific Inc. TVI Pacific Inc.
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