International Prospect Ventures to Acquire 100% Interest in Pilbara Gold Properties and Appoints Robert Valliant to the Board of Directors

VAL-D'OR, QUEBEC--(Marketwired - Dec. 14, 2017) -

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International Prospect Ventures Ltd. (TSX VENTURE:IZZ) (the "Company") is pleased to announce that it has entered into a binding share exchange agreement (the "Valroc Agreement") to acquire 100% interest in Valroc Ventures Pty Ltd. ("Valroc"), the New South Wales, Australia company that the Company has an agreement with to jointly acquire, each as to an undivided 50% interest, certain applications for tenements located in Western Australia (the "Tenements"). Details of the West Australia tenement applications and the gold-bearing Pilbara region in which they are located have been previously announced by the Company in its news release of November 14, 2017 and on the Company website at www.iprospectventures.com.

Pursuant to the terms of the Valroc Agreement, the owner of Valroc will exchange with the Company all of the issued and outstanding shares of Valroc for 1,600,000 common shares in the capital of the Company on the terms and conditions set forth in the Valroc Agreement and Valroc will become a wholly-owned subsidiary of the Company such that the Company will then own a 100% interest in the Tenements upon the applications for such Tenements being granted.

Recent discoveries in the Pilbara of Western Australia point to an exciting new gold district that shows great potential. Although much has yet to be learned about the region's geology, the distribution of gold mineralization, and its economic potential, the 100% interest acquired by the Company will allow for aggressive exploration and advancement of the Tenements (once granted) under the experienced direction of the Company's team.

Completion of the transactions contemplated by the Valroc Agreement is conditional on the applications for the Tenements being granted and acceptance by the TSX Venture Exchange.

The Company's Board of Directors is also pleased to announce that Dr. Robert I. Valliant has been appointed by the Board as an additional director of the Company. Dr. Valliant holds an Honours BSc Degree in Geology from the University of Waterloo and a PhD in Economic Geology from the University of Western Ontario. He is President and a director of Tri Origin Exploration Ltd., previous Vice-President, Exploration of LAC Minerals Ltd., a director of Midland Exploration Inc., and a director of the Prospectors and Developers Association of Canada. Dr. Valliant has gained extensive mineral exploration and corporate experience working in Australia over the past 30 years.