IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp.

November 23, 2009 09:30 ET

IBC Advanced Alloys Signs Letter of Intent With Kazatomprom

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2009) - IBC Advanced Alloys Corp. (TSX VENTURE:IB) ("IBC" or the "Company") is pleased to announce that it has signed a letter of intent (the "LOI") with Kazatomprom, the national atomic company of Kazakhstan. The LOI is expected to strengthen the companies' existing relationship by addressing long-term supply agreements, co-investment opportunities as well as initiatives to support IBC's beryllium enhanced nuclear fuel project.

Under the terms of the LOI, Kazatomprom and IBC have outlined the terms of three specific initiatives. First, the companies have agreed to negotiate a binding three-year supply agreement whereby Kazatomprom's wholly owned subsidiary, Ulba Metallurgical Plant, will supply beryllium and beryllium alloys to IBC on pre-agreed terms. Second, Kazatomprom and IBC agree to explore strategic partnerships, which may include direct or indirect investment that will support the growth of the beryllium business for the benefit of both parties. Third, the companies have agreed to assess the feasibility of a Kazakhstan based high volume beryllium oxide production facility to support IBC's growing nuclear fuels initiative.

The LOI is intended to advance the memorandum of understanding (the "MOU") signed by both parties on the April 20 of this year. The MOU was recognition by Kazatomprom and IBC as to the benefits of exploring and developing a long-term strategic vision for the global beryllium business and for establishing areas of mutual cooperation.

"We are very pleased to have signed this LOI with Kazatomprom," stated Anthony Dutton, President and CEO of IBC, "as it confirms our mutual cooperation and support for the global beryllium business and demonstrates significant progress since our meeting in Almaty earlier this year. Kazatomprom and IBC are firmly committed to the future of the beryllium business, both in terms of the existing market as well as new growth opportunities," continued Dutton, "and we look forward to strengthening our relationship with our Kazakh colleagues as we develop our global beryllium business together."

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 59 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil 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) IBC, Kazatomprom and Ulba will develop a strategic relationship; (iii) that the strategic relationship if developed will improve manufacturing and marketing efficiencies while broadening the opportunities for beryllium metal and beryllium-based alloys and intermediate products; (iv) that the development of strategic relationship and joint initiatives that will expand IBC's global reach and bring Kazatomprom and IBC closer together.

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; and (ix) the inability to effectively market IBC's products, including the establishment of viable relationships with third parties; (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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

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