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Sulphide Project Update: TVI Pacific signs five year off-take agreement with MRI Trading AG

November 11, 2008
    (TSX: TVI)

    CALGARY, Nov. 11 /CNW/ - TVI Pacific Inc. (TSX: "TVI" or the "Company")
is pleased to announce that the Company's Philippine affiliate, TVI Resource
Development (Phils.) Inc. ("TVIRD"), has entered into a five-year off-take
agreement with MRI Trading AG of Switzerland ("MRI Trading"), one of the
largest global copper concentrates trading houses. MRI Trading has agreed to
purchase all the copper concentrates produced from the Company's Sulphide
Project at the Canatuan mine and TVIRD has agreed to sell all copper
concentrate production from the Canatuan mine exclusively to MRI Trading.
Construction of the Sulphide Project at Canatuan is nearing completion and
start-up of mining and processing activities is scheduled for mid-November,

    Certain statements in this News Release constitute forward-looking
statements, including statements concerning the timing of commencement of
mining and processing activities at the Canatuan Sulphide Project and the
timing and availability of copper concentrates for shipping. Readers should
refer to the cautionary statement that appears at the end of this News

    "We are pleased to have signed an agreement with MRI Trading, one of the
most active international metals trading houses, as our off-take partner for
copper concentrates produced at Canatuan, " said Cliff James, President and
Chief Executive Officer of the Company. "This off-take arrangement marks a
significant milestone for the Company as we are within days of the scheduled
start-up of the second phase of operations at the Canatuan mine."
    The off-take agreement entered into with MRI Trading also provides for
payments to TVIRD on account of silver and gold, to the extent that nontrivial
amounts of such metals are included in the copper concentrates purchased by
MRI Trading. Copper concentrates produced at Canatuan are scheduled to be
available for shipment starting in early 2009. The current transportation
plans involve the trucking of copper concentrates approximately 30 kms from
the mine site to Santa Maria port. The off-take agreement provides that
concentrates will be shipped from that port by MRI Trading in lots of
approximately 5,000 tonnes. TVIRD intends to construct a purpose-built
warehouse at the port to house and handle the concentrates for export.

    About MRI Trading AG

    MRI Trading is a top-tier trader of concentrates and other non-ferrous raw
materials. It is part of the MRI Group of companies, a leading investment and
trading group in the commodities arena. The Group has a global presence
through its offices in Beijing and Shanghai, Santiago do Chile, Lubumbashi,
Johannesburg, New Delhi, and Brisbane.

    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 the Philippines. The Company's interest in the Canatuan Mine and
its other Philippine assets are held through its affiliate, TVI Resource
Development (Phils.) Inc.

    Certain information set out in this News Release constitutes
forward-looking information. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "intend", "could", "might",
"should", "believe", "scheduled" and similar expressions. Forward-looking
statements are based upon the opinions and expectations of management of the
Company as at the effective date of such statements and, in certain cases,
information received from or disseminated by third parties. Although the
Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions and that information received
from or disseminated by third parties is reliable, it can give no assurance
that those expectations will prove to have been correct. Forward-looking
statements are subject to certain risks and uncertainties (known and unknown)
that could cause actual outcomes to differ materially from those anticipated
or implied by such forward-looking statements. These factors include, but are
not limited to, such things as the occurrence of events that could have a
material adverse effect on the business, operations, property or financial
condition of the Company and its affiliates; the volatility of prices for
precious metals and base metals; commodity supply and demand; fluctuations in
currency and interest rates; inherent risks associated with construction
activities and the development of mining properties; inherent risks associated
with mining and processing operations; ultimate recoverability of mineral
reserves; timing, results and costs of construction, development and
processing activities; availability of transportation infrastructure for
copper concentrates produced at Canatuan; availability of financial resources
or third-party financing; new laws (domestic or foreign); changes in
administrative practices; changes in plans or budgets; and availability of
equipment and personnel. Accordingly, readers should not place undue reliance
upon the forward-looking statements contained in this News Release and such
forward-looking statements should not be interpreted or regarded as guarantees
of future outcomes. Forward-looking information respecting the anticipated
timing of commencement of mining and processing activities at the Canatuan
Sulphide Project and the anticipated timing of availability of copper
concentrates for shipping is based upon progress made to date on the
construction of the infrastructure required to support mining and processing
activities from the Sulphide zone at Canatuan, advice received from
third-party contractors with respect to the timing of various components of
the construction project, prior experiences of management with construction
and mining activities at Canatuan, the current development plan for Canatuan
and the Company's current budget and overall strategy for Canatuan, which
plans, budget and strategy are all subject to change). The forward-looking
statements of the Company contained in this News Release are expressly
qualified, in their entirety, by this cautionary statement. Various risks to
which the Company is exposed in the conduct of its business (including mining
activities) are described in detail in the Company's Annual Information Form
for the year ended December 31, 2007, which was filed on SEDAR on March 27,
2008 and is available under the Company's profile at www.SEDAR.com. Subject to
applicable securities laws, the Company does not undertake any obligation to
publicly revise the forward-looking statements included in this News Release
to reflect subsequent events or circumstances.

    The Toronto Stock Exchange has neither approved nor disapproved of the
    information contained herein.

For further information: Investor Relations - (403) 265-4356 or