IBC Advanced Alloys Corp. Announces Closing of $10.35 Million Offering Including a Full Exercise of the Over-Allotment Option

VANCOUVER, BC — March 23, 2010 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) is pleased to announce that it has closed its previously announced short-form prospectus offering, raising gross proceeds of C$10,350,000 for the Company. Union Securities Ltd. and Pope & Company Limited (collectively, the “Agents“) acted as Agents for the Company with respect to the sale of 60,882,354 units (“Units“) of IBC at a price of C$0.17 per Unit (the “Unit Offering“). In connection with the Unit Offering, the Company granted the Agents an over-allotment option to require IBC to issue up to an additional 15% of the Units actually sold at the closing of the Unit Offering, which the Agents exercised in order to increase the number of Units sold from 52,941,177 to 60,882,354.

Each Unit is priced at C$0.17 and consists of one common share of IBC (a “Unit Share“) and one-half of one common share purchase warrant exercisable at C$0.25 (each whole warrant, a “Warrant“). Each Unit Warrant entitles the holder to purchase one common share of IBC for a price of C$0.25 per common shares until 4:00 pm (Pacific Standard Time) on March 23, 2012 subject to acceleration of the exercise period in certain circumstances. If following the closing of the Unit Offering, the Company’s closing price is C$0.50 or more per common share for 20 consecutive trading days on the TSX Venture Exchange, or an equivalent stock exchange (the “Accelerating Event“), the exercise period of the Unit Warrants may be reduced to expire on the date that is 30 days following the Accelerating Event.

The Agents were paid a cash commission of C$724,500.00 in connection with the Unit Offering and received an aggregate of 4,261,764 broker warrants to acquire up to 4,261,764 common shares at a price of C$0.17 per common share until March 23, 2012.

This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy, securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available

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 65 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the western US and Brazil 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: [email protected]
Website: www.ibcadvancedalloys.com