IBC Syndicates $8M Short Form Financing

VANCOUVER, BC — December 3, 2009 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) is pleased to announce that further to its news release of November 30, 2009 announcing an $8 million offering (the “Offering”) and filing of a preliminary short form prospectus with regards to the Offering, it has now formed a syndicate of agents. The Offering will be led by Pope & Company Limited with the syndicate including Dundee Securities Corp. and Union Securities Ltd.

A short form prospectus has been filed with the 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 for gross proceeds of up to $8,000,000, subject to a 15% over-allotment option.

Each Unit will consist of one common share of IBC and one-half of one transferrable common share purchase warrant (each whole warrant, a“Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of IBC for a period of 24 months (subject to acceleration) following the date of closing of the Offering. Final pricing and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market and will occur immediately prior to the filing of the final short form prospectus in respect of the Offering.

The net proceeds from the Offering will be used to fund the proposed acquisition of Beralcast Corporation, new business development initiatives, further exploration of mineral properties and for general working capital purposes.

The Offering is subject to certain conditions including, but not limited to, the execution of an 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 59 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:

Russell N. Starr
Head of Institutional Sales and Trading
Pope & Company Limited
(416) 588-6419

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