IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp.

May 15, 2008 09:15 ET

International Beryllium Corporation Closes Acquisition of Rare Earths Limited, LLC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - International Beryllium Corporation (TSX VENTURE:IB) ("IBC" or the "Company") is pleased to announce that it has successfully closed the acquisition of Rare Earths Limited, LLC ("REL"), a private Colorado-based mining and mineral exploration company.

This transaction is further to the Company's news release dated January 17, 2008, which announced the signing of a binding letter of intent to acquire REL. Pursuant to the letter agreement, IBC paid an aggregate of US$40,000 and issued one million common shares (the "IBC Shares") with a deemed value of US$0.50 per share and now holds all the issued and outstanding shares of REL. The IBC Shares are subject to a hold period which expires on September 10, 2008.

REL owns a comprehensive reference library detailing beryllium mines, deposits and occurrences worldwide; complemented by extensive geologic, topographic, and bathymetric databases and a world class library of satellite imagery.

"The REL acquisition is an important and strategically significant building block for IBC as we expand our footprint across the global beryllium mine to market value chain," said Anthony Dutton, President and CEO of IBC. "The principals of REL have unmatched geological and geotechnical experience and familiarity with virtually all known areas of beryllium mineralization around the world and are integral to our ongoing mineral asset acquisition program. We are very happy to have the benefit of their unrivalled experience and expertise as we continue to evaluate additional global mineral opportunities."

This acquisition was approved by the TSX Venture Exchange ("TSX-V") on February 28, 2008.

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

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 and automotive. International Beryllium's common shares are traded on the TSX Venture Exchange under the symbol IB.

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 and REL will grow into a strong vertically integrated international beryllium company (ii) IBC is looking forward to a successful integration and growth in market share and shareholder value for IBC; and (iii) IBC 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 IBC does not execute its business plan; (ii) the inability of IBC 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 IBC'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.

Contact Information