The disclosure is directed the formulation and application of an anti-corrosion coating system for use on an associated metallic substrate, the coating composition including at least a sacrificial binder and particles of at least one metallic compound comprising a metal which is anodic relative to the metallic substrate. The associated method includes the steps of applying the coating system to the metallic substrate to form an initial coating, heating this initial coating to remove the sacrificial binder and continued heating under controlled atmospheric conditions sufficient to reduce the metallic compound(s) to elemental metal and form a corrosion suppressing alloy coating on the metallic substrate.