IBC Advanced Alloys Corp. Receives Receipt for Final Short-Form Prospectus

VANCOUVER, BC — March 16, 2010 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) is pleased to announce that it has filed and obtained a receipt for its short-form prospectus (the “Prospectus“) with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario to qualify the securities offered under the Prospectus. The Company has also entered into an agency agreement with a syndicate of agents led by Union Securities Ltd. and Pope & Company Limited (collectively, the “Agents“) under which the Agents have agreed to sell, on a best efforts basis, up to 60,882,354 units (the “Units“), at a price of C$0.17 per Unit for aggregate gross proceeds of up to C$10,350,000 (the “Offering“) after exercising an over-allotment option.

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 Warrant entitles 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 23, 2010 or such other date as may be agreed upon by the Company and the Agents.

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 (“Agents’ Unit”) of the Company, having the same terms as the Units, at a price of $0.17 per Agents’ 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. Each Agents’ Unit is comprised of one common share and one-half of one share purchase warrant (each whole warrant an “Agents’ Warrant”). Each Agents’ Warrant is exercisable into a common share on the same terms and conditions as the warrants that comprise the Units.

The net proceeds from the Offering will be used to fund the previously announced acquisition of Beralcast(r) Corporation, new business development initiatives, further exploration of mineral properties and for general working capital purposes, as described in the Prospectus.

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

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