TVI Pacific Affiliate Forms Joint Venture with Filipino Company to Explore Greater Canatuan Tenement

Calgary-based copper producer TVI Pacific Inc. announced that its Philippine affiliate, TVI Resource Development Philippines, Inc. (TVIRD) has entered into a heads of terms agreement with Dacon Corporation of the Philippines. The agreement covers the establishment of an joint venture to conduct exploration, development and production of mineral deposits in the area covered by TVIRD’s application for exploration permit No. 61 project, otherwise known as the Greater Canatuan Tenement. The joint venture interest will be 70% TVIRD and 30% Dacon, with TVIRD acting as the operator. The partners will fund an exploration program in the Greater Canatuan Tenement for a period of two years amounting to a maximum of US$2 million, to be shared in accordance with their interests in the joint venture.