NEWS RELEASE

IBI COMMISSIONING NI 43-101 TECHNICAL REPORT ON URANIUM

Toronto –Friday, March 13, 2009 
#2009 – 335

IBI Corporation, ["IBI" – TSX Venture], a junior international mining and investment company, reports it plans to commission a NI 43-101 Technical Report (“Report”) on the Company’s properties pertaining to uranium.

Dr. James Misener P.Eng, president of Paterson, Grant & Watson Ltd., IBI’s geophysical consultant, will be principal author of the Report.

IBI has a 100% interest in approximately 2,000 square kilometres of properties in Uganda and an option for a 90% interest in the Ruhuhu property in Tanzania. The properties in Uganda have shown indications of uranium mineralization based on interpretation of the recently released (2009) Uganda countrywide Airborne Radiometric and Magnetic Survey. The Tanzania property (Ruhuhu Property) has shown initial uranium mineralization based on detailed airborne radiometric surveys of the property as well as preliminary geological studies and ground exploration.

Dr. James Misener P.Eng, Qualified Person for IBI Corporation, has reviewed and approved this news release.

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IBI Corporation Overview

Uranium :

Following a decision to focus on high-value minerals exploration and development in Uganda and East Africa, IBI sold its Namekara Vermiculite Mine in Uganda to Rio Tinto for US $5 million in March 2007, with final closing in March 2008. IBI subsequently has focused primarily on developing opportunities for the exploration and development of uranium in Uganda and Tanzania. IBI’s prospective uranium land portfolio is comprised of approximately 2,100 square kilometres in Uganda and Tanzania and the Company is seeking to add more uranium lands.

Gold:

IBI has accelerated its program of investing in promising gold opportunities, most notably through its 20% ownership position in Grey Crown Resources Limited. Grey Crown owns and operates the producing Tira Gold Mine in Uganda and has also built a prospective gold lands portfolio of 1,271 square kilometres in the South East Uganda Greenstone Belt. The Belt is an extension of the Lake Victoria Greenstone Belt where several prominent majors, including Barrick Gold and AngloGold Ashanti, are currently producing gold from significant proven reserves.

General:

In February 2009, IBI entered into a joint venture agreement with Venus Capital Resources Limited in which IBI holds a 20% carried interest in 12 exploration license properties comprising 3,442 square kilometres, and regarding which, Venus is the project operator. The properties are contemplated for uranium, gold, and rare earth minerals exploration.

Reader Advisory:

Statements in this document may contain forward-looking information. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, but not limited to, any potential benefits from the proposed 43-101 Report. The reader is cautioned not to place undue reliance on this forward-looking information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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For further information, please contact:

Gary A. Fitchett CA - President and CEO Relations
Tel: (905) 985-6510
e.mail: G.Fitchett@IBInvest.com

 

Dennis C. Mellersh - Investor
Tel: (416) 754-4454
e.mail: D.Mellersh@IBInvest.com

http://www.IBInvest.com

IBI’s External Investor Relations Services are provided by Hawlen Bay Consulting Corp.

Robert Allen CEO Toll-Free Number 1-888-825-2103