Sulphide Project Update

11/12/2008



TVIRD signs 5-year off-take agreement with MRI Trading AG

TVI Resource Development (Phils.) Inc. (TVIRD) has entered
into a five-year off-take agreement with MRI Trading AG of Switzerland, one
of the largest global copper concentrates trading houses. MRI Trading has agreed
to purchase all the copper concentrates produced from the TVIRD’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, 2008.

Crushed
copper ore (top of photo) emerges from crusher circuit.

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