======================================================================= Re: News Releases - Wednesday, February 24, 2010 IBC Advanced Alloys Corp.

Files Amended Preliminary Short Form Prospectus and Increases Offering Amount to C$8,500,000 ======================================================================= NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES 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: 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 This news release was prepared by management of IBC, which takes full responsibility for its contents.

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 news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended.

Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Such forward-looking statements include, among others, the expectations and/or claims, as applicable., that: (i) IBC is creating a dynamic global beryllium and advanced alloys company (ii) IBC is undertaking global growth initiatives, (iii) IBC will acquire all of the shares of Beralcast. Actual results could differ from those projected in any forward-looking statements due to numerous factors.

Such factors include, among others: (i) the risk that IBC does not execute its business plan; (ii) the inability of IBC to keep pace with market requirements; (iii) IBC's inability to maintain key relationships with suppliers and customers; (iv) IBC not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for IBC's products not developing as expected; (vii) IBC's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; (ix) the inability to effectively market IBC's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IBC's business plans and strategies; (xi) the inability of IBC to complete the acquisition of Beralcast Corporation; and (x) the inability of IBC to complete the proposed financing on the terms outlined above or at all.

These forward-looking statements are made as of the date of this news release and IBC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Although IBC believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. ======================================================================= Copyright (c) 2010 IBC ADVANCED ALLOYS CORP (IB) All rights reserved.

For more information visit our website at http://www.ibcadvancedalloys.com/ or send mailto: =======================================================================