Toronto - Monday, November 24, 2008                                                                       #2008--- 319

IBI Corporation, ["IBI" - TSX Venture] , junior international mining and investment company, announces the appointment, effective December 15, 2008, of Hawlen Bay Consulting Corp. as IBI's external investor relations organization. This appointment is subject to TSX Venture Exchange approval.

 

In making the announcement, Gary A. Fitchett, president and CEO of IBI commented, "For the past 18 months, IBI has been focused on building the Company's fundamentals regarding uranium and gold exploration and development in Uganda and East Africa. The Company now has strong land positions in both uranium and gold; demonstrated interest from potential joint venture partners; and the development of IBI's 20%-owned affiliate, Grey Crown Resources Limited, is proceeding well. Accordingly, it is now appropriate to more fully communicate IBI's potential to the attention of the overall investment community through a more formal and expanded external investor relations program."

 

Fitchett added, "Hawlen Bay will be working closely with Dennis Mellersh, IBI's director of communications and investor relations, in developing a communications campaign focused on a select audience of private investors, investment clubs, fund managers, brokers, and analysts."

 

Discussing its new role with IBI, Robert Allen, chief executive officer of Hawlen Bay, commented, "Hawlen Bay is excited to be assisting IBI Corporation in its investor relations program as we believe IBI's potential will be of significant interest to the overall investment community. We are looking forward to working with IBI to help the Company achieve its market objectives."

IBI Corporation Overview: In late 2006, IBI signed an agreement to sell its world-class Namekara Vermiculite Mine in Uganda to Rio Tinto for US$ 5 million. IBI subsequently began focusing primarily on the exploration and development of uranium in Uganda and East Africa with the capital thus generated. Additionally, IBI 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 developed a gold lands portfolio of 1,251 square kilometres in the gold-prospective South East Uganda Greenstone Belt, an extension of the well-known prolific Lake Victoria Greenstone Belt.
 

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, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. 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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