TVI Pacific announces second shipment of copper concentrates produced at Canatuan



    (TSX: TVI)

    CALGARY, May 4 /CNW/ - TVI Pacific Inc (TSX: "TVI" or the "Company")
announced today that its Philippine operating affiliate, TVI Resource
Development (Phils.), Inc. ("TVIRD"), completed an additional shipment of
copper concentrates from the Canatuan Mine on May 2, 2009.

    Certain statements in this News Release constitute forward-looking
statements, including statements respecting the intended use of funds
generated from the sale of copper concentrates produced at Canatuan and the
anticipated timing and quantities of future shipments of copper concentrates
from Canatuan.

    In accordance with the offtake arrangement between TVIRD and MRI Trading
AG ("MRI"), a second shipment of approximately 3,251 dry metric tonnes ("dmt")
of copper concentrates was shipped from the TVIRD warehouse facility at the
Santa Maria Port in Siocon, Zamboanga del Norte, destined for for a major
Chinese smelter. TVIRD is owed a partial payment, amounting to approximately
US$2.3 million, for the copper concentrates shipped on May 2, 2009. Under the
offtake agreement, final payment for the remaining sale price of the
concentrates is due once the final details relating to the weight, assays and
prices are determined. Funds generated from the concentrate shipments are
intended to be allocated towards working capital and operating costs in
continuing mine operations.
    TVIRD completed its first 5,351-tonne shipment of copper concentrates
from the warehouse facility at the Santa Maria Port on March 27, 2009, for
which TVIRD has received a provisional payment equal to 90% of the estimated
value of that shipment, amounting to approximately US$4.9 million. Under the
offtake agreement, final payment for the first shipment is due once the final
details relating to the weight, assays and prices are determined.
    The offtake agreement provides that MRI will purchase all of the copper
concentrates produced at Canatuan over the anticipated life of the sulphide
operation. To date, the Canatuan Mine has produced approximately 10,560 dmt of
copper concentrate. Of this production, 8,602 dmt have been shipped through
the offtake agreement with MRI and 1,958 dmt are currently stored at the TVIRD
facilities, waiting for subsequent shipment arrangements. It is anticipated
that the next shipment to MRI may be made near the end of May 2009, while
future shipments averaging approximately 5,000 dmt each, are expected to occur
approximately every four to six weeks thereafter, depending on specific
shipping and marketing arrangements.

    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", "to be", "will be" and similar expressions.
Forward-looking statements in this News Release are based upon the opinions
and expectations of management of the Company as at the effective date of such
statements. Although the Company believes that the expectations reflected in
such forward-looking statements are based upon reasonable assumptions, 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 volatility of prices for
precious metals and base metals, commodity supply and demand, fluctuations in
currency and interest rates, inherent risks associated with the exploration
and development of mining properties, ultimate recoverability of mineral
reserves, timing, results and costs of exploration and development activities,
availability of financial resources or third-party financing, new laws
(domestic or foreign), changes in administrative practices, changes in
exploration plans or budgets, and availability of equipment and availability
of 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 intended use of
funds generated from the sale of copper concentrates produced at Canatuan is
based upon TVIRD's current budget and overall strategy for Canatuan, which
plans, budget and strategy are all subject to change, current and anticipated
financial obligations of TVIRD, including the terms and repayment schedules
associated with the term loan facility between TVIRD and LIM Asia
Multi-Strategy Fund Inc. and LIM Asia Special Situations Master Fund Ltd..
Forward-looking information respecting the anticipated timing and quantities
of future shipments of copper concentrates from Canatuan, is based upon
current production of copper from the Canatuan mine, the terms of the third
party offtake agreement for the purchase of copper concentrates produced at
Canatuan, the processing capabilities of the Canatuan mine, the availability
of transportation for the shipment of copper concentrates produced at
Canatuan, estimates of the size of the copper reserves at Canatuan, the
current development plan for Canatuan, TVIRD'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 and its affiliates are exposed
in the conduct of their business (including mining activities) are described
in detail in the Company's Annual Information Form for the year ended December
31, 2008, which was filed on SEDAR on March 26, 2009 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:

For further information: Investor Relations, (403) 265-4356 or
tvi-info@tvipacific.com


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