IBC Advanced Alloys Corp. Files Amended Preliminary Short Form Prospectus and Increases Offering Amount to C$8,500,000

VANCOUVER, BC — February 24, 2010 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) announces that it has filed an amended and restated preliminary short-form prospectus (the “Amended Preliminary Prospectus”) with securities regulatory authorities in the provinces of British Columbia, Alberta, and Ontario in connection with a best efforts offering of units (the “Units”) of IBC (the“Offering”) to raise gross proceeds of up to C$8,500,000, subject to a 15% over-allotment option. The Offering will be led by Union Securities Ltd. and Pope & Company Limited (collectively, the “Agents”).

Each Unit will be priced at C$0.17 and will consist of one common share of IBC and one-half of one common share purchase warrant exercisable at C$0.25 (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of IBC for a period of 24 months (subject to acceleration) following the date of closing of the Offering, which is scheduled to occur on or before March 12, 2010. For their services rendered in connection with the Offering, the Agents will receive a cash commission equal to 7% of the gross proceeds raised under the Offering and broker warrants exercisable to acquire that number of units of the Company, having the same terms as the Units, at a price of $0.17 per unit as is equal to 7% of the total number of Units sold under the Offering, at any time until the date which is 24 months after the closing of the Offering. The amount of the offering has been increased from C$8,000,000 to C$8,500,000 due to investor interest and to ensure compliance with the terms of the Beralcast Corporation acquisition agreement.

The net proceeds from the Offering will be used to fund the announced acquisition of Beralcast Corporation, new business development initiatives, further exploration of mineral properties and for general working capital purposes, all as more particularly described in the Amended Preliminary Prospectus. 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 60 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

Further information on this financing can be obtained from:

Brock Daem and Jason Bedasse
Institutional Equity Sales
Union Securities Ltd.
1 (416) 777-0600

Grant White
Global Head, Capital Markets
Pope & Company Limited
1 (416) 588-6139