VANCOUVER, BC, April 30, 2009 – IBC Advanced Alloys Corp. (TSX-V:IB) (“IBC” or the “Company”) is pleased to announce that Mr. Ian Slater has been appointed as an independent director of the Company effective April 29th, 2009. Mr. Slater replaces Mr. Simon Anderson who will remain as Company Secretary and Chief Financial Officer.
Ian Slater is a Chartered Accountant with over 18 years of experience in international finance in the global resource sector. Most recently, Mr. Slater was CEO and a director of Fortress Minerals, a publicly held Canadian gold exploration and development company focused on Russia, listed on the TSXV and managed by the Lundin Group of companies. Mr. Slater is currently CEO and a founding director of Slater Mining, an early stage publicly traded international mining venture.
Prior to joining Fortress Mr. Slater was the Managing Partner of Ernst & Young’s Canadian mining practice. Mr. Slater also brings many years of experience and expertise in Central Asia and Russia as a partner with Arthur Andersen where he led their Central Asian mining practice for six years. Based in Kazakhstan, Mr. Slater negotiated with governments at all levels on behalf of some of the resource industry’s largest companies.
“We are extremely happy to welcome Ian to the IBC team”, stated Anthony Dutton, President and CEO of IBC. “He brings excellent leadership qualities to the Company as well as particular Russian and Central Asian expertise. His experience and deep understanding of global mining transactions and negotiations will be invaluable to IBC as we expand our operations and evaluate additional strategic opportunities for growth.”
“I am very excited to be joining IBC’s board and I and look forward to providing assistance and guidance where I can,” said Mr. Slater. “IBC’s focus of vertical integration and downstream consolidation within the global beryllium and special alloys market is exactly the right strategy for the current economic climate and will also provide a strong foundation for future growth.”
The Company has granted 400,000 incentive stock options to Mr. Slater. The options are exercisable at a price of $0.15 over a period of five years.
About IBC Advanced Alloys Corp.
IBC Advanced Alloys Corp. is an integrated manufacturer and distributor of beryllium based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 65 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania and Indiana. Additionally, IBC owns prospective beryllium properties in Brazil and 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”.
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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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