Beryllium Copper Alloys by IBC Advanced Alloys

 

IBC Advanced Alloys Corp. Files Preliminary Short Form Prospectus for a Unit Financing of up to $7 Million

Published Tuesday, May 31, 2011 5:00 pm

VANCOUVER, BC – May 31, 2011 - IBC Advanced Alloys Corp. (TSX.V:IB) ("IBC" or the “Company”) has
filed a preliminary short form prospectus with the securities regulatory authorities in all of the Provinces of Canada, except for the Province of
Québec, in connection with a best efforts offering of units (the "Units") of IBC (the "Offering") for gross proceeds of a minimum of $4 million and up to a maximum of $7 million. Euro Pacific Canada Inc. will lead the Offering with a syndicate of agents that
includes Raymond James Ltd. (collectively, the "Agents"). IBC has granted the Agents an over-allotment
option to sell up to an additional 15% of the Offering on the same terms and conditions, exercisable at any time following the closing of the Offering for a period of 30 days.

Each Unit will consist of one common share of IBC and one-half of one common share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of IBC for a period of 24 months following the date of closing of the Offering. Final pricing and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market and will occur immediately prior to the filing of the final short form prospectus in respect of the Offering.

The net proceeds from the Offering will be used to further expand IBC’s Engineered Materials operations (formerly
Beralcast Corporation) acquired in 2010; update Copper Alloys equipment and facilities; fund new business development initiatives; undertake the next phase of the Company’s nuclear fuels research initiative; for exploration and maintenance of the Company’s Juab County, Utah mineral property, including a summer 2011 drill program in Utah; and for general working capital purposes.

The Offering is subject to certain conditions including, but not limited to, the execution of a definitive agency agreement
with the Agents and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

About IBC Advanced Alloys Corp.

IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospective beryllium properties in 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”.

For additional information please contact:

IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110

Email: itootill@eragonlatrilogia.com

Website: www.eragonlatrilogia.com

Further information on this financing can be obtained from:

Russell N. Starr

Head of Institutional Equities and Director

EuroPacific Canada Inc.

+1 (416) 649-4272

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

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.

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; (x) fluctuating
beryllium prices may negatively impact IBC’s business plans and strategies; and
(xi) the inability of IBC to complete the acquisition of Beralcast Corporation.
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.

THIS NEWS RELEASE
IS NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES.