CALGARY, ALBERTA--(CCNMatthews - June 1, 2007) - TVI Pacific Inc.
(TSX:TVI) ("TVI" or the "Company") announces that at its annual and
special meeting held yesterday shareholders approved by an overwhelming
majority the adoption by TVI of a shareholder rights plan, as well as
certain amendments to the Company's by-laws and stock option plan.
Details regarding the shareholder rights plan and these amendments are
set forth in the management proxy circular of TVI dated April 12, 2007, a
copy of which has been filed and is available from the SEDAR website at
www.sedar.com.
The objectives of the shareholder rights plan are to ensure, to the
extent possible, that all shareholders are treated equally and fairly in
connection with any take-over bid or similar proposal to acquire common
shares of the Company. The plan was not adopted in response to, or in
anticipation of, any known proposal to acquire control of TVI.
The plan has been implemented and is effective immediately pursuant
to the terms and conditions of a Shareholder Rights Plan Agreement
between TVI and Computershare Trust Company of Canada, as rights agent.
The complete text of this agreement will be filed and available from the
SEDAR website at www.sedar.com.
About TVI Pacific Inc. (TSX:TVI)
TVI Pacific Inc. is a publicly traded Canadian mining company
focused on exploring for and producing precious and base metals within
district scale systems in Asia.
In the Philippines, TVI's most advanced project, the Canatuan Mine
(the first foreign-invested, new, mining project in the Philippines
since the passage of the Philippine Mining Act of 1995) began mining and
milling operations in mid-2004, producing gold and silver dore through
its affiliate TVI Resource Development (Phils.) Ltd. ("TVIRD"). In 2006,
TVIRD received a completed NI 43-101 feasibility study on the Canatuan
Sulphide project prepared by Norwest Corporation. The report has been
filed with certain securities regulatory authorities in Canada and is
available at the SEDAR website at www.sedar.com.
The Norwest study addresses the copper-zinc bearing massive sulphide
zone, or lower portion of the Canatuan Deposit. Construction of the
Sulphide Project at Canatuan is now underway. In addition, TVIRD holds a
2.5% NSR on the Philippine-based Rapu Rapu project operated by
Lafayette Mining Ltd. Exploration in the Philippines is being conducted
at Canatuan, in an effort to expand TVIRD's mineral resource base and to
find new deposits, at Balabag and at other areas which management of
TVI view as compelling exploration properties.
In China, TVI's wholly-owned Chinese subsidiary, Hunan Pacific
Geological Exploration Inc. ("HPGEI"), was the first foreign mining
company to be granted both WOFE status and a Qualified Explorer License.
The exploration program in China is focused primarily within the Golden
Triangle area, a prospective metallogenic region in China's
south-western provinces of Yunnan, Guizhou and Guangxi Autonomous Region
and prospective areas in the Tibet Autonomous Region. HPGEI has 2,394
sq kms of land under application in China in the Golden Triangle and in
the Tibet A.R.
TVI also has a Drilling Segment consisting of Exploration Drilling
Corporation ("EDCO"), a wholly-owned subsidiary of TVI Pacific Inc.
based in the Philippines, and Hunan Pacific Drilling ("HPD"), a segment
of HPGEI based in China, which generates revenue from contract drilling.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.