International Beryllium Completes Staking of Colorado Beryllium Mineral Claims
VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 16, 2008) – International Beryllium Corporation (TSX VENTURE:IB) (“IB”) is pleased to announce that it has completed staking of 517 mineral claims in the Lake George area of Colorado, a well known zone of beryllium mineralization that also includes the Boomer mine owned by IB. The staked area is approximately 10,585 acres (4,284 ha) and includes the former beryllium producing areas of China Wall, Redskin Gulch and other former producing claims and workings.
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Studies conducted by the U.S. Geological Survey and by the U.S. Bureau of Mines in the 1960s confirmed the extent and grades of the beryllium deposits in this area. Geochemical studies reported in U.S. Geological Survey Circular 597 showed the widespread beryllium mineralization in the area. Mineralogical properties and geologic characteristics of the beryllium deposits in the area are detailed in U.S. Geological Survey Professional Paper 400B and in 608A and 608B, while U.S. Bureau of Mines Report of Investigations 6828 describes individual deposits as well as the exploration programs and production.
“This area of Colorado has been extensively studied by impartial U.S. Governmental agencies, as well as by private and corporate concerns, which have confirmed the presence of beryllium mineralization. Additionally, the area is home to the Boomer Mine, recently acquired by IB, and which was historically the second largest beryllium mine in the U.S. during the early 1960s,” stated Lindsey Maness, IB’s Vice President of Exploration. “Further geochemical, geophysical and field geological investigations will be used to identify and delineate any additional ore zones that may be suitable for mining and to incorporate our findings into a thorough resource estimate for the entire Lake George area.”
“We are very pleased to have secured such a large and potentially valuable claim area so close to a known historical beryllium operation,” said Anthony Dutton, CEO and President of IB. “Such opportunities do not present themselves often and we are very excited to have successfully completed our claim program in such a well known area of beryllium mineralization. These claims will complement nicely our growing portfolio of beryllium properties and beryllium mineral claims and form an important component of our growth strategy going forward.”
About International Beryllium Corporation
International Beryllium Corporation is a global exploration and manufacturing company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, defence, electronics, specialty ceramics and automotive. International Beryllium’s common shares are traded on the TSX Venture Exchange under the symbol IB.
This news release was prepared by management of IB, which takes full responsibility for its contents. There can be no assurance that the proposed acquisition will be completed as described, or at all.
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) IB and Freedom will grow into a strong vertically integrated international beryllium company (ii) IB is looking forward to a successful integration and growth in market share and shareholder value for IB; and (iii) IB plans to pursue of additional downstream acquisition opportunities and expand its manufacturing and marketing footprint in both North American and international markets.
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 IB does not execute its business plan; (ii) the inability of IB to keep pace with market requirements; (iii) the Company’s inability to maintain key relationships with suppliers and customers; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for the Company’s products not developing as expected; (vii) the Company’s inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market the Company’s products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IB’s business plans and strategies. These forward-looking statements are made as of the date of this news release and the Company 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 the Company 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.
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