Dear Stakeholders

Regarding the Ordinance On Open Pit Mining Ban

On November 1, 2011, TVI announced that an Ordinance had been filed to ban new open pit mining (and cause the closure process of existing mines beginning one year from now) in the province of Zamboanga del Norte, home to TVI’s Canatuan operations.   While Canatuan will continue operating without disruption during this period, it is the opinion of our external legal counsel that this Ordinance is contrary to provisions under the Local Government Code of 1991 and the Philippine Mining Act of 1995 and is therefore unconstitutional.

On November 9, 2011, TVI launched an action in court for a temporary restraining order and/or preliminary injunction against any officers, agents, employees, representatives and anyone acting on behalf and within the control of Zamboanga del Norte from implementing an ordinance banning open pit mining in the province.  TVI will seek to exhaust “all legal remedies” to nullify the provincial ordinance.  This Ordinance does not affect our Balabag gold project as it is in a different province.

There will be a great deal of ongoing coverage on this issue.  To keep you as up-to-date as possible, we have created a new page on our web site called “TVI Opposed To Open Mining Ban”.  You can reach this page by clicking on the red “Ordinance” indicator on the right hand side of our home page here www.tvipacific.com

This new page will be updated with formal TVI statements, external press coverage, media clips, photos, rallies that may be held in protest to the ban, and anything else pertaining to the Ordinance as events unfold. 

Regards,
Rhonda

Rhonda Bennetto | VP Investor & Corporate Relations

desk        403.233.6506
mobile    403.389-4633
skype      rbennetto

TVI Pacific    A Philippine Resource Company
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