International Prospect Ventures Announces Annual Shareholder Meeting Results

At the meeting shareholders elected five directors, being Dr. Scott Jobin-Bevans, Glenn J. Mullan, Dr. Robert I. Valliant, Martin J. Walter and Dr. C. Jens Zinke. Shareholders appointed MNP LLP as the Company's auditor for the ensuing year.

Andrew Pepper has been a valued and long-standing director of the Company since February 18, 2010, and did not stand for re-election as a director at the meeting. The board very sincerely thanks Mr. Pepper for his hard work, dedication and efforts to the business and affairs of the Company over the past many years and wishes him all the very best in his future endeavours.

The Board welcomes Mr. Martin Walter as a director of the Company. He has over 20 years of exploration and mine geology experience on precious metal projects worldwide. He is currently Chief Executive Officer at Nubian Resources Ltd. He has also served as a Director of, and led a number of junior mining and development companies listed on the Toronto Stock Exchange including Forrester Resources Corp., Treasury Metals Inc. and Aquiline Resources Inc. Mr. Walter holds a BSc. Degree in Geology from the University of Ballarat, Australia and an MBA from the University of Toronto.

Following the shareholder meeting, the Board reconstituted its Audit Committee and its Compensation and Corporate Governance Committee. The Board also appointed officers for the ensuing year as follows:

The Company's Board has granted incentive stock options to its directors, officers, employees and consultants entitling the purchase of an aggregate 665,000 common shares at a per share price of $0.115 for a period of 5 years.

For additional information, please contact:

Glenn J. Mullan
Chairman of the Board
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9 Tel.: 819-824-2808, x204
Email: glenn.mullan@goldenvalleymines.com

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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