NOTICE IS HEREBY GIVEN that a Special General Meeting (the "Meeting") of the shareholders of International PBX Ventures Ltd. ("PBX" and the "Company") will be held on Friday, August 3, 2012 at Suite 200 - 475 Howe Street, Vancouver, British Columbia, Canada, at 10:00 a.m. PST.

Further to the Company's news release dated May 23, 2012, wherein it was announced that PBX had signed a definitive Joint Venture Option Agreement (the "Agreement") with OZ Exploration Chile Limitada, a wholly owned subsidiary of OZ Minerals Limited (ASX:OZL) of Melbourne, Australia ("OZ Minerals"), on PBX's Copaquire copper molybdenum property ("Copaquire") in northern Chile. The terms of the Agreement allow OZ Minerals to earn a 90% interest in Copaquire by making cash payments of $90 million and drilling up to 35,000 meters. The Agreement is subject to shareholder and regulatory approval.

The Special Meeting is being called to consider, and if found to be acceptable, to approve the Agreement. All holders of the Company's common shares of record on July 3, 2012, will be eligible to vote at the Special Meeting. The Information Circular in connection with the Agreement and an Instrument of Proxy will be mailed to shareholders of PBX in accordance with corporate and securities laws and posted to SEDAR and the Company's website. Once the Information Circular is available, the board of directors encourages shareholders to review the detailed information in its entirety.

The Instrument of Proxy must be signed by the Registered Shareholder or by his or her attorney authorized in writing, or, if the Registered Shareholder is a corporation, by an officer or director thereof as an authorized signatory. The completed Instrument of Proxy must be deposited at the office of CIBC Mellon Trust Company at least 48 hours before the time of the meeting (excluding Saturdays, Sundays and holidays), or any adjournment thereof.

DATED at Vancouver, British Columbia this 5th day of June, 2012.

ON BEHALF OF THE BOARD OF DIRECTORS OF

INTERNATIONAL PBX VENTURES LTD.

Signed: "J.Caddy"

JEREMY CADDY

Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.