IBC Advanced Alloys Corp.
TSX VENTURE : IB

IBC Advanced Alloys Corp.

June 12, 2008 08:30 ET

International Beryllium Acquires 100% of the Boomer Mine in Colorado

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) - INTERNATIONAL BERYLLIUM CORPORATION (TSX VENTURE:IB) ("IB" or the "Company") is pleased to announce that it has exercised its rights under a trust agreement signed on the 1st of September 2007 and acquired a 100% interest in the Boomer mine located in Park County, Colorado. It is comprised of two patented mining claims: the Boomer and East Boomer lodes consisting of 20.560 acres. The Boomer mine was historically the second largest producing beryllium mine in the United States from 1948 until 1963 and was the largest beryllium ore producer in 1958. An additional 33-1/3% interest in the adjacent 9.395-acre J.S. Lode also was acquired.

The Boomer mine, located in Section 21 of Township 11 South, Range 72 West (T11S R72W), lies within the Lake George beryllium area, a prolific beryllium-producing area of South Park, Park County, Colorado. It is well-supplied with electricity, water and telephone, and is readily accessible along an established road system. The Boomer mine produced a majority of the beryllium ore (beryl and bertrandite) mined in Colorado from 1948 until 1969 and over 50% of the total US production during that period according to the U.S. Bureau of Mines Minerals Yearbooks. Mining operations were discontinued in the early 1970s due to a legal dispute between the operating partners.

USGS Scientists, Dr. Wallace R. Griffitts and Dr. Charles C. Hawley, who evaluated the Boomer mine in the 1960s (e.g., USGS Professional Papers 608-A & B and USGS Circular 597), were of the opinion that the Boomer mine retained more than 50% of its mineable reserves. Ore reserves will have to be confirmed by systematic drilling, geochemical sampling, and by geophysical and geological evaluations. The Company confirms that the previous reserves are now a historical resource.

"We are delighted to have secured 100% ownership of the Boomer Mine and to integrate it into our growing international portfolio of high impact beryllium mineral properties," said Anthony Dutton, CEO and President of IB. "Our current mineral focus is to continue to source, evaluate and acquire additional high quality properties and to grow our global resource base. Available data indicates the Boomer mine will become a significant and valuable asset for IB which will be confirmed by a work program in the near future."

According to Lindsey Maness, IB's VP Exploration, "The unusually rich Boomer mine has historically been an excellent source of easily-extracted high-grade beryllium ore. Recent preliminary investigations, including several site visits and an ongoing analysis of all available data, including USGS notes," continued Maness, "strongly suggest the Boomer mine has significant potential as an economic beryllium producer."

About International Beryllium Corporation

International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, defence, electronics, specialty ceramics and automotive. International Beryllium's common shares are traded on the TSX Venture Exchange under the symbol IB.

This news release was prepared by IB management, 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) IB and Freedom will grow into a strong vertically integrated international beryllium company (ii); IB is looking forward to a successful integration and growth in market share and shareholder value for IB; and (iii) IB plans to pursue of additional downstream acquisition opportunities and expand its manufacturing and marketing footprint in both North American and international markets.

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 IB does not execute its business plan; (ii) the inability of IB to keep pace with market requirements; (iii) the Company's inability to maintain key relationships with suppliers and customers; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for the Company's products not developing as expected; (vii) the Company'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 the Company's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IB's business plans and strategies. These forward-looking statements are made as of the date of this news release and the Company 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 the Company 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-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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