VANCOUVER, BC — May 15, 2008 – International Beryllium Corporation (TSX-V: 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. The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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.
International Beryllium Corporation
Anthony Dutton, CEO
(604) 689-1515 ext 111
Email: [email protected]
Website: www.internationalberyllium.com
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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 disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing operations and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
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