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Sulphide Project update: TVI Pacific initiates draw down on US$15 million bridge financing

April 14, 2008
    (TSX: TVI)

    CALGARY, April 14 /CNW/ - TVI Pacific Inc. (TSX: "TVI" or the "Company")
and its Philippine affiliate, TVI Resource Development (Phils.) Ltd.
("TVIRD"), today advised that the previously announced US$15 million bridge
financing facility ("the Facility") with LIM Asia Arbitrage Fund Inc. and LIM
Asia Special Situations Master Fund Limited (the "Lenders") has closed and the
first drawdown by TVIRD under the facility has been initiated.
    On March 13, 2008, the Company signed a US$15 million bridge financing
agreement with the Lenders for the purpose of obtaining working capital
funding for TVIRD, including funds to continue construction of the Sulphide
project at Canatuan. Background information concerning the Omnibus Loan and
Security Agreement is set out in the news release disseminated by the Company
on March 13, 2008 and in the Material Change Report filed by the Company on
March 24, 2008 with various securities regulatory authorities in Canada, a
copy of which is available on the SEDAR website at www.SEDAR.com.
    The Lenders have advised the Company that all conditions precedent set
out in the Omnibus Loan and Security Agreement were satisfied on Monday, April
14, 2008, and the Lenders are in the process of executing the first advance of
funds to TVIRD.
    "These funds will greatly assist the Company as we continue construction
at Canatuan to support the startup of Sulphide operations at the mine," said
Cliff James, President and CEO of TVI. "Management and the Board of Directors
of the Company are encouraged by the availability of funds from the Lenders
and the updated technical report on the Sulphide project reported by the
Company on April 7, 2008, which supports management's assessment of the robust
economics of the project. Our discussions continue with current and potential
financial partners regarding long-term funding for the Sulphide project and
other quality assets in the Company's portfolio."

    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.) Ltd. TVI's most advanced project, the Canatuan Mine,
currently produces gold and silver doré.

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

For further information: Clifford M. James, President and CEO, TVI
Pacific Inc.; Paul Moon, Director, Corporate Communications, (403) 265-4356