Mr. Mark Smith reports

IBC ADVANCED ALLOYS ANNOUNCES ELECTION TO ISSUE SHARES IN SATISFACTION OF DEBENTURE INTEREST PAYMENT OBLIGATIONS

IBC Advanced Alloys Corp., in accordance with the terms of a debenture indenture entered into between the company and Computershare Trust Company of Canada dated June 6, 2018, as supplemented, and the terms of a convertible debenture indenture entered into between the company and Computershare dated June 6, 2018, as supplemented, has elected to issue common shares in the capital of the company to holders of 9.5 per cent unsecured debentures due June 6, 2023, and 8.25 per cent convertible unsecured debentures due June 6, 2023, respectively, in satisfaction of up to an aggregate total of approximately $132,581.58 interest payable to holders of debentures on June 6, 2023, assuming no further conversions of 8.25 per cent debentures.

Further to the short-form prospectus dated May 28, 2018 qualifying the distribution of the Debentures, the price of the Common Shares will be based on the volume-weighted average trading price per Common Share for the 20 consecutive trading days on the TSX Venture Exchange (the "TSXV") ending on fifth day prior to the Payment Date, being the 20 consecutive trading days from May 4, 2023 to June 1, 2023, provided that such price is not less than the closing market price on June 1, 2023.

The issuance of the Common Shares in lieu of cash is subject to the terms and conditions of the Indentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSXV.

About IBC Advanced Alloys Corp.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast(TM) family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".

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