Toronto, Ontario – June 25, 2008 – Iberian Minerals Corp. (IZN–TSXV) (“Iberian”) Iberian

is pleased to announce that it has entered into an amended and restated credit agreement
(“Amended Credit Agreement”) with Trafigura Beheer B.V. (“Trafigura”).
The Amended Credit Agreement provides for an unsecured facility of up to US$125 million
which is to be used by Iberian to fund development requirements of the Aguas Tenidas project
(the “Development Advances”) and for the purposes of funding margin calls, if any, associated
with the hedging requirements pursuant to the previously announced project financing (the
“Aguas Tenidas Project Financing”) entered into in connection with the development of the
Aguas Tenidas mine (“Margin Advances”). The Amended Credit Agreement provides for
multiple drawdowns and bears interest at LIBOR + 1% per annum and repayable in cash upon
the maturity date. Any outstanding principal amount plus applicable interest relating to
Development Advances is due upon on the initial draw down on Aguas Tenidas Project
Financing. Any outstanding principal amount plus applicable interest relating to Margin
Advances is due when all permitted hedging arrangements required pursuant to the Aguas
Tenidas Project Financing have been terminated. Iberian shall have the right to prepay any
amount outstanding under the Amended Credit Agreement without penalty. The Amended
Credit Agreement also provides for mandatory repayment in certain conditions. No structuring
fee or other financing fee is payable by Iberian in connection with the entering into of the
Amended Credit Agreement.

Pursuant to Multilateral Instrument 61-101 ("MI 61-101"), the entering into of the Amended
Credit Agreement is a "related party transaction" as Trafigura currently holds 105,420,691
Common Shares representing approximately 41.5% of the issued and outstanding shares of
the Corporation. The Corporation is exempt from the formal valuation requirement of MI 61-
101 in connection with entering into of the Amended Credit Agreement in reliance on section
5.5(c) of MI 61-101 as no securities of the Corporation are listed or quoted for trading on the
Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the
NASDAQ Stock market or a stock exchange outside of Canada and the United States.
Additionally the Corporation is exempt from obtaining minority shareholder approval in
connection with entering into of the Amended Credit Agreement in reliance on section 5.7(1)(f)
as the Amended Credit Agreement is on reasonably commercial terms that are not less
advantageous to the Corporation than if the loan were obtained from an arm’s length party; the
Amended Credit Agreement is not convertible into common shares; and no principal amount or
interest is repayable in common shares of the Corporation.

About Iberian Minerals Corp.
Iberian Minerals Corp. is a Canadian-based global copper and zinc company with developing
and producing interests in both Spain, the Aguas Tenidas Project and Peru, the Condestable
Mine. Iberian Minerals Corp. is well-funded with a strong, experienced management team and
a significant partner in it's largest shareholder, Trafigura Beheer B.V.

This press release does not constitute an offer of securities in the United States, Canada or
elsewhere. The securities of Iberian have not been, registered under the United States
Securities Act of 1933, as emended, or any state securities laws, and may not be offered or
sold in the United States or to U.S. persons unless registered or exempt therefrom.

FORWARD LOOKING STATEMENTS:
This news release contains certain “forward-looking statements” and “forward-looking
information” under applicable securities laws. Except for statements of historical fact,
certain information contained herein constitutes forward-looking statements. Forwardlooking
statements are frequently characterized by words such as “plan”, “except”,
“project”, “intend”, “believe”, “anticipate”, “estimate”, and other similar words, or
statements that certain events or conditions “may” or “will” occur. Forward-looking
statements are based on the opinions and estimates of management at the date the
statements are made, and are based on a number of assumptions and subject to a
variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking statements.
Many of these assumptions are based on factors and events that are not within the
control of Iberian and there is no assurance they will prove to be correct. Factors that
could cause actual results to vary materially from results anticipated by such forwardlooking
statements include changes in market conditions and other risk factors
discussed or referred to in the management information circular of Iberian dated
November 20, 2007 and in the annual Management’s Discussion and Analysis for Iberian
filed with the applicable securities regulatory authorities and available at
www.sedar.com. Although Iberian has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions, events or
results not to be anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Iberian undertakes no
obligation to update forward-looking statements if circumstances or management’s
estimates or opinions should change except as required by applicable securities laws.
The reader is cautioned not to place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy
of this release.