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Gold/Mining/Energy : IBI CORP IBIC (CDN) -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth A Rice who wrote (230)	3/5/1999 9:45:00 AM
From: Chris K.	Read Replies (1) \| Respond to of 422

IBI CORPORATION GRANTED CDN REINSTATEMENT TORONTO, ONTARIO-- IBI Corporation announced today that the Canadian Dealing Network (CDN) has approved the reinstatement of IBI's quotation on the CDN system. Quotation of the Company's shares under the symbol IBIC and its rights under the symbol IBIC.RTS will be available starting March 5, 1999. IBI Corporation's quotation on the CDN System will be subject to IBI continuing to meet CDN's quotation requirements on an ongoing basis, including the requirement that IBI maintain financial resources sufficient to carry out its business plan. Currently, IBI has financial resources to fund its operations for Phase I of its exploration program in Uganda, which is expected to be completed within approximately six months. Pursuant to a further letter agreement with International Mining and Development, IBI is required to fund Phase II of the Uganda project in the amount of US$450,000 by June 30, 1999 and a further US$496,560 by December, 1999 (total US$1,200,000 to earn a 70% interest in the property). The Phase I program now under way in Mbale district, Uganda is focused on increasing the quantity of reserves and defining the grade of the Busumbu phosphate and Namekara vermiculite deposits. IBI Corporation has 181,838,445 shares issued. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Olav Svela or Jon W. Kieran, Investor Relations (416) 868-1079 Hume, Kieran Inc. e-mail: olav@humekieran.on.ca

To: Elizabeth A Rice who wrote (230)	3/5/1999 9:54:00 AM
From: Elizabeth A Rice	Respond to of 422

Canadian Company Press Release IBI CORPORATION GRANTED CDN REINSTATEMENT TORONTO, ONTARIO-- IBI Corporation announced today that the Canadian Dealing Network (CDN) has approved the reinstatement of IBI's quotation on the CDN system. Quotation of the Company's shares under the symbol IBIC and its rights under the symbol IBIC.RTS will be available starting March 5, 1999. IBI Corporation's quotation on the CDN System will be subject to IBI continuing to meet CDN's quotation requirements on an ongoing basis, including the requirement that IBI maintain financial resources sufficient to carry out its business plan. Currently, IBI has financial resources to fund its operations for Phase I of its exploration program in Uganda, which is expected to be completed within approximately six months. Pursuant to a further letter agreement with International Mining and Development, IBI is required to fund Phase II of the Uganda project in the amount of US$450,000 by June 30, 1999 and a further US$496,560 by December, 1999 (total US$1,200,000 to earn a 70% interest in the property). The Phase I program now under way in Mbale district, Uganda is focused on increasing the quantity of reserves and defining the grade of the Busumbu phosphate and Namekara vermiculite deposits. IBI Corporation has 181,838,445 shares issued. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Olav Svela or Jon W. Kieran, Investor Relations (416) 868-1079 Hume, Kieran Inc. e-mail: olav@humekieran.on.ca