Optical and X-Ray proximity printing systems are resolution limited by diffraction and beam dispersion. Parallel dispersion free ion beam systems are therefore ideal to transfer stencil mask patterns onto all sorts of nonideal substrates. A feasibility study was performed with the existing Alpha ion projector of the Society for the Advancements of Microelectronics in Austria operated in the MIBL (Masked Ion Beam Lithography) mode with approximate to 10x10 mm(2) exposure field. Structures as small as 0.2 mu m in diameter could be transfered even with a gap of 1 mm between stencil mask and substrate. The widening of resist lines with 10% increase in dose was evaluated to be 14 nm for 2800 mu m gap and 4 nm for 300 mu m gap. This excellent exposure latitude favourably compares with synchrotron based X-ray lithography, where a widening of 20 nm with 10% overexposure has been reported for a 40 mu m gap, and 10 nm for 10 mu m gap. Promising applications of the MIBL technique include the fabrication of flat panel displays based on vacuum electronics (field emitter displays), surface acoustic wave and microoptic devices and - in combination with reactive ion etching - the fabrication of micro electro mechanical systems (MEMS). Prospects for MIBL steppers of printing fields > 100x100 mm(2) are discussed.