TVIRD has moved to infill drilling (at 25-metre spacing) on the Tinago-Miswi-Lalab veins at its Balabag Property, located in the Zamboanga Peninsula in Southern Philippines, to delineate to determine if minerals are present in sufficient quantities to support a second mine.

The Balabag property is located approximately 75km East-Northeast of the Canatuan Mine.

A preliminary scoping study to assess the Tinago-Miswi-Lalab mineralized zone is expected to be completed mid this year.

TVIRD also reported encouraging metal values from its now completed 50-metre spacing exploration drilling program at Balabag. The results noted in the most recent assays include intercepts of 8.25 metre-thick veins averaging 29.79 grams per tonne gold and 1,534.95 grams per tonne silver (including 103.92 grams per tonne gold and 5234.30 grams per tonne silver over approximately one metre); 8.05 metres averaging 11.34 grams per tonne gold and 661.83 grams per tonne silver; and 8.52 metres averaging 6.71 grams per tonne gold and 130.05 grams per tonne silver.

Meanwhile work continues on TVIRD's longer term North Zamboanga Tenements - Tamarok and Tapisa.

Recent reconnaissance surveys by TVIRD, involving semi-detailed geological mapping and sampling over portions of the Tapisa and Tamarok tenement applications in the Northern Zamboanga Peninsula, Philippines, support previously reported historical findings and have identified additional copper and gold prospective occurrences.

TVIRD has mapped 17.5km of drainage system and collected 314 rock/channel samples. Sampling results over this prospect yielded 38 metres averaging 0.705% copper and 0.35 grams per tonne gold.

Recent exploration work also identified a number of new occurrences. The nearby Silawa-Tigon Creek area prospect has more than 110 metres of nearly contiguous channel sampling of dioritic outcrops averaging 0.3% copper. The results of assays undertaken over significant intervals on these prospects are considered encouraging by the company's management.

The Tamarok APSA is located approximately 50km north-northeast of TVI's Balabag property. The Tapisa prospect is located immediately east of the Tamarok prospect.

The Tamarok and Tapisa tenement applications are being pursued on a priority basis. An exploration program consisting of fieldwork and 800 metres of drilling to test prospective targets is planned following receipt of governmental approvals.