IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp.

July 07, 2009 09:30 ET

IBC Advanced Alloys Appoints Nuclear Fuels Expert Joel Gingold to Its Nuclear Fuels Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2009) - IBC Advanced Alloys Corp. (TSX VENTURE:IB) ("IBC" or the Company) is pleased to announce that it has appointed Joel Gingold, an independent nuclear fuel consultant, to the IBC nuclear fuels advisory board. The advisory board's role is to assist the Company with its strategic plan to commercialize the nuclear fuel technology currently being developed by Purdue and Texas A&M Universities in partnership with IBC.

Mr. Gingold's career has focused principally on all aspects of nuclear fuels. In 2005, he retired as Vice President and General Manager of Stoller Nuclear Fuel Division of NAC International. In this capacity he performed a variety of assignments in nuclear fuel fabrication and fuel performance for utilities, industry associations, government agencies, consulting firms and other organizations. Prior to NAC's acquisition of Stoller Nuclear Fuel in 1997, Mr. Gingold served as Vice President of Stoller Corporation and Manager of its Nuclear Fuel Division and served on Stoller's board of directors.

Mr. Gingold's distinguished career in nuclear fuels has given him an excellent understanding of nuclear fuel design issues, fuel procurement, quality assurance and nuclear fuel performance. He has worked with numerous major utilities on nuclear fuel related assignments and government agencies in the U.S., Western and Eastern Europe, Asia and Latin America. Mr. Gingold has also been involved with uranium enrichment, fabrication, spent fuel management and other fuel cycle services for utilities, producers and government agencies. He currently works as a consultant with a variety of nuclear industry participants, including the UxC Consulting Company, headquartered in Roswell, Georgia.

IBC signed a collaborative research agreement with Purdue University in August 2008 to advance the university's existing nuclear fuels research program and to develop a new type of beryllium oxide enhanced nuclear fuel that has higher thermal conductivity and is therefore potentially longer lasting, more efficient and safer than current uranium-based nuclear fuels. The objective of the research is to commercially develop a nuclear fuel for optimal use in both current and future nuclear reactors.

"I am very pleased to be joining IBC's advisory board and to support their nuclear fuels initiative," said Mr. Gingold. "I know from long experience that reactor safety and fuel performance are two of the most important issues facing the nuclear industry today affecting consumers, fabricators and regulators alike. IBC's advanced UO2 - BeO high conductivity fuel," continued Gingold, "has the potential to enhance reactor safety and to improve fuel performance by running cooler and lasting longer than conventional nuclear fuels. I am looking forward to working with IBC to advance this important industry initiative."

"We are delighted to have Joel join IBC and our advisory board," said Anthony Dutton, President and CEO of IBC. "We are committed to high conductivity nuclear fuels and their potential contribution to a more efficient, economically sound and safer nuclear power industry. We look forward to working with Mr. Gingold," continued Dutton, "as we advance this initiative on behalf of shareholders and the nuclear fuels industry."

Mr. Gingold received his Bachelor's Degree in Electrical Engineering from Rensselaer Polytechnic Institute and graduated from the U.S. Navy Advanced Nuclear Power School. He has authored numerous papers and articles on all aspects of the nuclear fuel cycle including utilization of high burn-up and MOX fuel and on the factors affecting the reliability of nuclear fuel.

IBC has granted incentive stock options to Mr. Gingold, for the purchase of 100,000 common shares of the Company, at an exercise price of $0.15. The options have a five-year term and vest in accordance with the policies of the TSX Venture Exchange, expiring July 3, 2014.

The options are being granted pursuant to the terms of the Company's 2008 stock option plan and are subject to TSX Venture Exchange policies and approval.

About IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp. is an integrated manufacturer and distributor of beryllium based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 61 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania and Indiana. Additionally, IBC owns prospective beryllium properties in Brazil and the Western US covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB".

This news release was prepared by management of IBC which takes full responsibility for its contents.

Legal Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectations and/or claims, as applicable, that: (i) IBC is creating a dynamic global beryllium and advanced alloys company; (ii) the target company is an attractive high-growth opportunity for IBC; (iii) the proposed acquisition will successfully consolidate IBC's growing manufacturing and distribution base; and (iv) the proposed acquisition will increase the diversity and reach of its specialty alloys business.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that IBC does not execute its business plan; (ii) the inability of IBC to keep pace with market requirements; (iii) IBC's inability to maintain key relationships with suppliers and customers; (iv) IBC not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for IBC's products not developing as expected; (vii) IBC's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; (ix) the inability to effectively market IBC's products, including the establishment of viable relationships with third parties; and (x) fluctuating beryllium prices may negatively impact IBC's business plans and strategies. These forward-looking statements are made as of the date of this news release and IBC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although IBC believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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