IBI CORP V.IBI

NEWS REPORT IBI-- here we go

[Boazz]

IBI INVESTOR RELATIONS BULLETIN June 29, 2007 Grey Crown's President to Chair Uganda Government Minerals Sector Group Paul Sherwen, president and chief operating officer of IBI's affiliate company, Grey Crown Resources Limited, was elected chairman of a Government of Uganda working group for the mineral and petroleum sector, during the recent meeting of the Presidential Investors Round Table (PIRT), held at Entebbe. In addition to his position with Grey Crown, Mr. Sherwen is also Chairman of the Uganda Chamber of Mines He is also managing director of Busitema Mining Cie Ltd., which owns the Tira Gold mine, which Grey Crown is currently in the final stages of acquiring. The core of the working group consists of: managing director, Stanbic Bank (U) Ltd, Mr Ktilli Mbathi; Minister for Minerals and Energy, Daudi Migereko; Minister of State for Minerals and Energy, Kamanda Bataringaya; and Minister of Finance, Esra Suruma; as well as representatives of the Uganda Investment Authority. One of the responsibilities of the group will be to prepare a brief for the government on further actions that need to be taken to improve investment in the minerals sector in Uganda. One of a number of proposals discussed called for infrastructure improvements, such as roads and electricity, in areas designated for minerals production. As a means of improving investment in the minerals sector, it was also proposed that designation of identified minerals lands be made after completion of the current aerial minerals survey of the country At a press conference during the PIRT meeting, Uganda President Yoweri Museveni announced that a special Shs8 billion program is being developed to facilitate the land acquisition process, in regard to certain designated lands, for investors in Uganda's minerals sector. The Uganda Investment Authority, headed by Dr. Maggie Kigozi, will administer the program. Some Facts About IBI's Incentive Stock Option Plan The Company has received a number of inquiries about its recent approval of the issuance of incentive stock options. The options are to be allocated to the directors, officers, senior management and consultants of the Company and its Ugandan subsidiaries, Canmin Resources Limited and Canmin Gold Limited, on a basis to be determined by the board. Complete details are in the Company's news release of June 20, 2007, on the IBI wesbite at https://www.ibinvest.com in the News Releases section, so I will not review the particulars in this Bulletin. Based on some shareholder questions and comments, it is worthwhile to review a few key points about this particular stock options issuance. The options are only exercisable at $0.10 per share, which means that should anyone holding the options wish to exercise them, they will be paying double the current (average June 2007) IBI market price for each share involved The options cannot be exercised within the first four months subsequent to issuance IBI's Incentive Stock Options must, in fact, be paid for - they are not a "free stock bonus plan". In this regard, all proceeds forthcoming from any exercising of the options will go directly as cash to IBI treasury Clearly, for anyone to gain in any manner from the options, the market share price of the Company's stock would have to exceed $0.10. In other words, IBI's share price would need to be more than double what it is today. These options, therefore, are not the equivalent of "cheap shares" for management. Anyone can buy IBI stock in the market today for about one-half of the mandatory options' share price No current IBI director or member of management has exercised any stock options since the inception and approval of the plan by IBI's shareholders in 1998. Moreover, all options allocated prior to the current allocation have expired in late 2002. In respect of the directors, none has received a penny of remuneration for serving in that capacity, which for most dates from late 1999 Incentive stock option plans are a common practice in public companies and are considered by Canadian regulatory authorities as a stock issue, and, as such, are subject to all pertinent rules and regulations. The issuance of the IBI options and their allocation, for example, is subject to the rules of the TSX Venture Exchange and must be in compliance with these rules The options will be allocated among eight qualified persons The rules of the Exchange (and typical practice of listed companies) allow a company to have outstanding options totaling 10% of issued shares - namely 28,000,000. With 17,000,000 options, the total is only 60% of what is common practice. If you have further questions about this issue, please contact us. Mining - A Positive Place to be in 2007 A review of global trends in the mining industry, published by PricewaterhouseCoopers, entitled Mine - Ride the Wave, portrays an upside world outlook in 2007 for astutely operated mining companies. In its 100+ pages, Mine notes that high commodity prices continue to drive improved results across a key range of performance indicators for the mining industry. The report indicates that although costs are rising for producers, nevertheless, "Margins are expected to remain high for the near future, driven by exceptional demand sustaining the current commodity price levels...New supply is coming on stream for many commodities, but is struggling to catch demand, partially as a result of under-investment in the 1990s....There remains confidence that demand will exceed supply leading to a continuation of high commodity prices for the time being." Mine - Ride the Wave also observes, "The mining industry is amongst the global leaders in terms of increased reporting on a whole range of equally important non-financial indicators, which can often directly impact the company's bottom line and market value." Mine foresees a strong 2007: "We predict that 2007 should bring with it both record financial results and further consolidation within the industry. The industry leaders continue to spread out from their geographical homes to operate assets globally." IBI shareholders who have an opportunity to read this report may notice a familiar family name on Mine's index of key contributors - Paul Fitchett CA. Paul is the son of IBI's president and CEO, Gary A. Fitchett. If you would like a copy of the full report, please e-mail me and we will forward you an electronic copy. Uranium Predicted to Hit $255 per lb in 2008 Writing for the Energy and Capital newsletter recently, Keith Kohl says, "The recent record prices for uranium are only the beginning. The growing nuclear industry will ensure the demand for yellowcake. And by next year, we're going to see uranium break over $255 a pound." In his article, Mr. Kohl notes that, currently, uranium mines are only producing 62 percent of global demand for uranium and that stockpiles and other sources are thereby being depleted. The article also reviewed the fact that more and more nuclear plants are scheduled to come on line in the future and that nuclear power is the clean way to generate electrical power on a global scale. He also notes, "Uranium prices right now are cheap. The truth is that uranium is only five percent of the cost of running a nuclear reactor. Oil-powered plants spend roughly 40 percent of their money for fuel...The thing is that when uranium hits $255 a pound in 2008, it'll still be cheap for those plants." IBI Corporation has uranium rights to 1938 square kilometres of prospective lands in Uganda. The Company is currently proceeding with a groundwork reconnaissance program, in relation to these lands, directed by Hans Hansen, managing director of IBI's operations in Uganda, and supervised by IBI's qualified geologist in Uganda, Nathan Walukawu, utilizing a 15-person crew. Samples from this program are sent to a laboratory in South Africa for analysis. Feedback: If you have any comments or questions about this issue of the IBI Investor Relations Bulletin, or about the Company in general, please e-mail or call me using the contact information at the bottom of this page. 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. For further information, please contact: Dennis C. Mellersh - Investor Relations Tel:(416) 754 - 4454 e.mail: D. [e-mail] IBI Corporation [e-mail] questions anyone??????