Janina Resources Limited
TSX VENTURE : JAN

November 01, 2007 18:45 ET

Janina Resources Limited Proposed Business Combination With Horn Rare Metals Ltd.

Janina Resources Files Draft Filing Statement for Proposed Business Combination

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2007) - Janina Resources Limited (TSX VENTURE:JAN) ("Janina" or the "Company") is pleased to announce that it has filed with the TSX Venture Exchange (the "TSXV") for initial comments a draft preliminary filing statement with respect to its proposed business combination with Horn Rare Metals Ltd. ("Horn") as previously announced on April 18, 2007. Upon completion of the proposed business combination, Janina will change its name to International Beryllium Corp.

Horn, is a private company incorporated under the laws of British Columbia, held 51% by Vangold Resources Ltd. (TSX VENTURE:VAN) and 49% by Firebird Global Master Fund Ltd. ("Firebird"). Firebird is affiliated with New York based Firebird Management LLC, which manages over US$2 billion in seven funds, with a particular focus on the former Soviet Union and other emerging markets.

Horn controls a 90% interest in seven beryllium mines located in Uganda and has the rights to hold a 100% interest in two beryllium mines located in Brazil. Horn has commissioned NI 43-101 technical report on the Brazilian properties. Janina will file the technical report with the TSXV and on SEDAR with the final version of the filing statement. All properties are formerly operating open pit artisanal mines situated within known prospective areas for beryllium. The Company intends to evaluate additional beryllium properties in Brazil and Uganda as well as in other established and prospective beryllium producing areas globally.

Beryllium is one of the lightest of all rare metals with one of the highest melting points of all light metals. It is also non-magnetic with excellent thermal conductivity; these and other favourable characteristics give Beryllium a wide and expanding market over a growing range of applications. These include the satellite, aerospace and defence industries and extensive use for cooling systems, shields and moderators in nuclear reactors. In addition, there is a growing market demand from automotive, electronics, home appliances, instrumentations and control systems, telecommunications products, wireless and computer components as well as in core internet network applications.

Anthony Dutton, Janina's CEO stated, "Following completion of the proposed business combination, the Company plans to implement a vertically integrated strategic plan to capitalize on the significant international opportunities identified by management."

On behalf of the Board of Directors of Janina Resources Limited.

Anthony Dutton, Director, CEO & President

The TSX Venture Exchange has in no way approved or disapproved the contents of this news release.

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