Iberian Minerals Corp. Press Releases

Iberian Minerals Reports Second Quarter 2010 Results and Updates 2010 Guidance

Thu, 26 Aug 2010 16:45:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 08/26/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced financial and operating results for the second quarter ended June 30, 2010, with comparative figures for the second quarter ended June 30, 2009. The Q2 2010 interim consolidated financial statements and related notes, and Management Discussion and Analysis may be found on www.sedar.com. Unless stated otherwise, all reported figures are in U.S. dollars. The Company reported net income of $90.5 million for Q2 2010, representing $0.27 per share, and net income of $80.6 million for the six months ended June 30, 2010.

Effective April 1, 2010, Iberian changed its reporting currency to U.S. dollars. All comparative figures have been re-stated from Canadian dollars to U.S. dollars using prevailing exchange rates in the comparative periods.

Summarized results for the three and six months ended June 30, 2010:


Financial:

Three months ended June 30, 2010

- Recorded net income of $90.52 million or $0.27 per registered share which
  included:

  - Sales of $51.70 million and gross margin of $(13.72) million;

  - A realized loss of $24.39 million on commodity hedges in the period
    (included in sales);

  - An unrealized non-cash gain of $131.11 million on derivative financial
    instruments outstanding, as a result of the reduction of metal prices
    over the period.

- Cash flow provided by operations before changes in non-cash working
  capital was $1.49 million. Cash flow used in operations after changes in
  non-cash working capital was $16.59 million.

Six months ended June 30, 2010

- Recorded net income of $80.61 million or $0.24 per registered share which
  included:

  - Sales of $107.49 million and gross margin of $(20.99) million;

  - A realized loss of $45.23 million on commodity hedges in the period
    (included in sales);

  - An unrealized non-cash gain of $118.96 million on derivative financial
    instruments outstanding, as a result of the reduction of metal prices
    over the period.

- Cash flow from operations before changes in non-cash working capital was
  $12.56 million. Cash flow used in operations after changes in non-cash
  working capital was $15.77 million.

Operational - CMC:

Three months ended June 30, 2010

- Condestable Mine continued to process copper ore at budgeted rates. The
  copper ore grade was slightly lower than expected at 1.18% versus 1.23% in
  the second quarter of 2009. The copper ore grade of 1.18% in the second
  quarter of 2010 improved from the first quarter 2010 copper ore grade of
  1.10%.

- CMC processed 550,708 tonnes of ore in the period versus 530,201 tonnes
  for the same period of the prior year (increase of 4%).

- Copper concentrate shipments in the period were 23,014 DMT versus 24,309
  DMT in the prior year (decrease of 5%).

- Contained copper production in the period was 5,829 tonnes versus 5,973
  tonnes in the prior year (decrease of 2%).

- The Cash Operating Cost (non-GAAP measure; see Note 1) for the period was
  $1.02 per payable pound of copper versus prior year of $0.90. This was an
  improvement from the first quarter 2010 Cash Operating Cost of $1.06.

Six months ended June 30, 2010

- Copper ore grade was lower than expected at 1.14% versus 1.23% in 2009.

- CMC processed 1,102,391 tonnes of ore in the period versus 1,064,839
  tonnes for the same period of the prior year (increase of 4%).

- Copper concentrate shipments in the period were 44,296 DMT versus 48,649
  DMT in the prior year (decrease of 9%).

- Contained copper production in the period was 11,164 tonnes versus 12,087
  tonnes in the prior year (decrease of 8%).

- The Cash Operating Cost for the period was $1.04 per payable pound of
  copper versus prior year of $0.85.

Other

- Completed the previously announced purchase from Corianta S.A. of all
  remaining interest in the Raul Mine, which forms part of the Condestable
  operation (the "Raul Transaction"). The purchase price was $28.00 million.
  As such, CMC is no longer obligated to make royalty payments that it was
  previously required to pay in connection with the lease of the Raul Mine.

- Completed the closing of a $55.00 million senior secured debt facility
  which ultimately funded the Raul Transaction (the "CMC Facility").

Operational - MATSA (no comparables for the same period in 2009):

Three months ended June 30, 2010

- MATSA processed 381,795 tonnes of ore in the period.

- Produced 20,659 DMT of copper concentrate and 9,718 DMT of zinc
  concentrate. Contained metal was 4,465 tonnes of copper and 4,633 tonnes
  of zinc.

- The Cash Operating Cost was $2.38 per payable pound of copper. It was
  higher than anticipated for steady state as the production rate in the
  period was below current design capacity of 1.7 Mtpa at an average of 90%.
  The copper circuit operated on target while the poly-metallic circuit
  realized improvements and produced a separate copper concentrate in the
  second quarter.

Six months ended June 30, 2010

- MATSA processed 739,357 tonnes of ore in the period.

- Produced 40,062 DMT of copper concentrate and 15,677 DMT of zinc
  concentrate. Contained metal was 9,631 tonnes of copper and 7,566 tonnes
  of zinc.

- The Cash Operating Cost was $2.30 per payable pound of copper. It was
  higher than anticipated for steady state as the production rate in the
  period was below current design capacity of 1.7 Mtpa at 87%.

Other

- Received from the relevant authority of the Junta de Andalucia in Spain,
  the environmental authorization which permits the use of six new reagents
  for the operation of the new modular copper/lead flotation separation
  circuit at the Aguas Tenidas Mine. The reagents have been received on site
  and the bulk copper/lead separation circuit started in early April.

- Completed the closing of a $50.00 million senior secured, revolving debt
  facility which has resolved the previously announced funding shortfall.

- Received the EUR10.09 million grant from Junta de Andalucia in Spain (the
  "Grant"). The Grant, which was finalized in February this year, relates to
  the "Programa de Incentivos para el Fomento de la Innovacion y el
  Desarollo Empresarial en Andalucia" (Incentive Program for the Promotion
  of Innovation and Business Development in Andalucia) and was awarded based
  on satisfying certain employment and financial conditions, which Iberian
  has completed.

Summarized Financial Results

For accounting purposes, to September 30, 2009, MATSA was in a pre-production phase. As such, sales and costs and expenses of mining operations incurred in this phase were not recognized in the operating statement for the comparative periods (three and six months ended June 30, 2009). Commercial production at MATSA was declared with effect from October 1, 2009. Sales and costs of expenses of mining operations for MATSA have been recognized in the operating statement of the Company in the current periods (three and six months ended June 30, 2010).


                            Three months ended June   Six months ended June
                                                30,                     30,
----------------------------------------------------------------------------
                                   2010        2009        2010        2009
----------------------------------------------------------------------------
                                      $           $           $           $
Sales                            51,695      25,482     107,494      50,581
Costs and expenses of mining
 operations                      46,411      13,432      90,685      25,936
Mine site amortization           19,002       6,128      37,799      12,227
----------------------------------------------------------------------------
Gross margin                    (13,718)      5,922     (20,990)     12,418

Expenses
Administrative expenses and
 other                            3,832       2,710       7,705       5,260
Foreign exchange (gain)/loss      5,856      (4,117)     (7,222)     (2,954)
Unrealized loss (gain) on
 derivative financial
 instruments                   (131,114)     58,890    (118,955)    128,374
----------------------------------------------------------------------------
Total expenses                 (121,426)     57,483    (118,472)    130,680

Net income (loss) before
 income taxes                   107,708     (51,561)     97,482    (118,262)

Non-controlling interest             92        (345)         92        (685)

Income tax expense                1,256       2,732       2,678       6,052
Future income tax recovery       15,844     (14,665)     14,100     (36,681)
----------------------------------------------------------------------------
Net income (loss)                90,516     (39,283)     80,612     (86,948)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Basic earnings (loss) per
 share ($)                         0.27       (0.13)       0.24       (0.31)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Diluted earnings (loss) per
 share ($)                         0.22       (0.13)       0.20       (0.31)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Key operating statistics

Condestable:

CMC operating statistics
                                          Three months            Six months
Periods ended June 30,      Unit       2010       2009       2010       2009
----------------------------------------------------------------------------

Ore mined                      t    552,706    530,883  1,104,033  1,058,210
Ore processed                  t    550,708    530,201  1,102,391  1,064,839

Copper ore grade               %       1.18       1.23       1.14       1.23
Concentrate grade              %         25         25         25         25
Copper recovery rate           %         90         91         89         92

Copper concentrate           DMT     23,014     24,309     44,296     48,649

Copper contained in
 concentrate                   t      5,829      5,973     11,164     12,087
Gold contained in
 concentrate                  oz      4,020      4,414      7,279      9,100
Silver contained in
 concentrate                  oz     65,662     59,502    131,708    119,988

Payable copper contained
 in concentrate                t      5,571      5,684     10,668     11,507
Payable gold contained in
 concentrate                  oz      3,318      3,984      6,269      8,189
Payable silver contained
 in concentrate               oz     63,821     53,123    122,966    108,206

----------------------------------------------------------------------------
Cash Operating Cost per lb
 of payable copper           USD $     1.02 $     0.90 $     1.04 $     0.85
----------------------------------------------------------------------------

MATSA:

MATSA operating statistics
----------------------------------------------------------------------------
                                                  Three months    Six months
Periods ended June 30,                      Unit          2010          2010
----------------------------------------------------------------------------

Copper ore
----------
Ore mined                                      t       293,732       578,944
Ore processed                                  t       276,580       558,266

Copper ore grade                               %          1.79          1.84
Concentrate grade                              %            21            22
Copper recovery rate                           %            82            84

Copper concentrate                           DMT        18,322        37,725

Copper contained in concentrate                t         3,949         8,487
Silver contained in concentrate               oz        58,337       122,808

Payable copper contained in concentrate        t         3,766         8,110
Payable silver contained in concentrate       oz        40,664        86,420

Polymetallic ore
----------------

Ore mined                                      t       114,392       176,051
Ore processed                                  t       105,215       181,091

Copper ore grade                               %          1.38          1.30
Copper concentrate grade                       %            22            22
Copper recovery rate                           %            41            41

Zinc ore grade                                 %          7.02          6.68
Zinc concentrate grade                         %            48            48
Zinc recovery rate                             %            60            62

Copper concentrate                           DMT         2,337         2,337
Copper/lead bulk concentrate                 DMT             -         6,071
Zinc concentrate                             DMT         9,718        15,677

Copper contained in concentrate                t           516         1,144
Zinc contained in concentrate                  t         4,633         7,566
Silver contained in concentrate               oz       138,607       211,702

Payable copper contained in concentrate        t           502         1,070
Payable zinc contained in concentrate          t         3,856         6,312
Payable silver contained in concentrate       oz        71,088       125,999

----------------------------------------------------------------------------
Cash Operating Cost per lb of payable
 copper                                      USD          2.38          2.30
----------------------------------------------------------------------------

Outlook and updated 2010 guidance

CMC

CMC set two priorities entering 2010. The first priority was to complete the Raul Transaction, which occurred on March 31, 2010. The purchase of the Raul mine lease and royalty provides Iberian with greater control over the mining operation at CMC and eliminates the Raul royalty payments. In connection with the completion of the Raul Transaction, CMC successfully completed the CMC Facility. The second priority was to improve reliability of the mining operations by investing approximately $3.30 million in capital costs to improve the secondary crushing. This project is progressing on target, with secondary crushing expected to be operational in Q2 2011.

It is expected that CMC will process 2.2 million tonnes of ore in 2010, in line with Iberian's 2010 guidance. The projected contained copper production for 2010 is now expected to be 23,500 t, approximately 5% lower than prior 2010 guidance of 24,500 t, primarily due to lower than expected copper ore grade realized in the first quarter. It is expected, for the balance of 2010, that CMC will have access to higher copper ore grades from the Karina vein and will thus achieve an average copper ore grade for the second half of 2010 of 1.20%. The forecast copper ore grade for 2010 is now expected to be approximately 1.17%. Cash Operating cost guidance for 2010 is forecast to be $1.03 per payable pound of copper for 2010 as compared to guidance previously issued of $0.85. The increase reflects lower than expected copper production and higher operating costs realized during the year.

MATSA

At MATSA, having successfully dealt with financing needs in the second quarter, the immediate priority is the completion of the 30% plant expansion. It is expected that the expansion will be completed by the end of Q3 2010. The Company expects that MATSA will operate at the expanded production rate in Q4 of 6,000 tpd of processed ore (equivalent of 2.2 Mtpa of processed ore). The expansion required the presentation of a revised Study and Unified Environmental Report to local Spanish authorities. This was presented in April 2010. It is expected that the local authorities will complete the review and authorization process in time for the planned start-up in Q3. While the Company does not anticipate any issues obtaining such authorization from local authorities, the impact of any negative developments in this regard would be a delay in the ability to operate the processing plant at the forecasted expanded rate.

As previously reported, the copper/lead bulk separation circuit was started in early April following completion of enhancements and after receiving permits for the use of six new reagents for the operation of the new modular copper/lead flotation separation circuit at the Aguas Tenidas Mine. As a result of the enhancements MATSA has been able to produce copper concentrate and low quality lead concentrate from the poly-metallic circuit. Due to lead concentrate quality issues, the lead concentrate produced was not saleable. MATSA has undertaken further enhancements as part of the plant expansion project with the expectation that the lead concentrate will be commercially saleable by the end of 2010. However, for purposes of the revised 2010 guidance issued below, the Company is not expecting any credit for such lead concentrate.

The Company issues the following updated 2010 guidance for MATSA:


----------------------------------------------------------------------------
                       Unit                                    Year       Q4
----------------------------------------------------------------------------

Ore processed          MT                        1.7 to 1.8 million  550,000

Copper concentrate     DMT                                   92,000   26,000
Zinc concentrate       DMT                                   52,000   25,000
Lead concentrate       DMT                                        -        -
Contained copper       t                                     21,000    5,500
Contained zinc         t                                     25,000   12,000
Contained lead         t                                          -        -
Fine silver            oz                                   580,000  100,000

Cash Operating Cost    $ per lb of payable copper              2.05     1.70

----------------------------------------------------------------------------

About Iberian Minerals Corp.

Iberian Minerals Corp. is a Canadian listed global base metals company with interests in Spain and Peru. The Condestable Mine, located in Peru approximately 90 km south of Lima, operates at 2.2 million tonnes per year producing copper, and associated silver and gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia region of Spain approximately 110 km north-west of Seville and operates a 1.7 million tonnes per year underground mine and concentrator that produces copper, zinc and lead concentrates that also contain gold and silver. Plans are underway for a plant expansion resulting in a capacity of 2.2 Mtpa at Aguas Tenidas.

Note 1 - The Cash Operating Cost per pound of payable copper is a non-GAAP performance measure. It includes cash operating costs, including treatment and refining charges ("TC/RC"), freight and distribution costs, and is net of by-product metal credits (zinc, gold and silver). The Cash Operating Cost per pound of payable copper indicator is consistent with the widely accepted industry standard established by Brook Hunt and is also known as the C1 cash cost.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Minerals Q2 2010 Results Conference Call

Tue, 17 Aug 2010 09:15:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 08/17/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced that a conference call concerning second quarter financial and operating results will be held on Friday, August 27th at 8am EDT.


Conference Call Information:

Participant dial-in number(s):       416-340-2217 / 866-696-5910
Participant pass code:               8211671

Conference Call Replay:

Dial-in number(s):                   416-695-5800 / 800-408-3053
Pass code:                           5710203

The conference call replay will be available until 11:59 p.m. EDT on August 31, 2010.

For further information on the conference call, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

Iberian Minerals Corp. is a Canadian listed global base metals company with interests in Spain and Peru. The Condestable Mine, located in Peru approximately 90 km south of Lima operates at 2.2 million tonnes per year producing copper, and associated silver and gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia region of Spain approximately 110 km north-west of Seville and operates a 1.7 million tonnes per year underground mine and concentrator that produces copper, zinc and lead concentrates that also contain gold and silver. Plans are underway for a plant expansion resulting in a capacity of 2.2 Mtpa at Aguas Tenidas.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Minerals Announces Granting of Options

Wed, 21 Jul 2010 08:30:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 07/21/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) announced today that a total of 900,000 options to acquire registered shares of the Company have been granted to certain directors at an exercise price of $0.56 per registered share. The options are non-assignable and have a five-year term.

Following the grant, there are a total of 10,610,000 options to acquire registered shares outstanding pursuant to Iberian's Stock Option Plan.

For further information, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

FORWARD LOOKING STATEMENTS:

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558
www.iberianminerals.com

Iberian Minerals Closes Private Placement of Convertible Debentures

Fri, 25 Jun 2010 08:30:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/25/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced that it has closed its previously announced private placement of 7% convertible debentures due December 31, 2011 (the "Debentures") in the aggregate principal amount of $3,609,750 (the "Offering") to certain insiders of Iberian. The Debentures are convertible into registered shares of Iberian (the "Shares") at a conversion rate of $0.56 per share and, if fully converted, would convert into 6,445,982 Shares.

At any time prior to the maturity date, if the volume weighted average price of the Shares on the TSX Venture Exchange for any consecutive 20 day period is equal to or greater than a 60% premium to the conversion rate, then Iberian shall have the right to accelerate the conversion of the Debentures upon delivery of written notice to the holders. The Debentures are unsecured.

The TSX Venture Exchange has conditionally approved the Offering and the listing for trading of the Shares issuable upon conversion of the Debentures.

Pursuant to Multilateral Instrument 61-101 ("MI 61-101"), each insider subscription is a "related party transaction". Iberian is exempt from the formal valuation requirement of MI 61-101 in connection with the insider subscriptions in reliance on section 5.5(b) of MI 61-101 as no securities of Iberian 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, Iberian is exempt from obtaining minority shareholder approval in connection with the insider subscriptions in reliance on section 5.7(1)(a) of MI 61-101 as the fair market value of the insider subscriptions does not exceed 25% of Iberian's market capitalization. The Offering closed less than 21 days after the date of the required material change report in order to address the Company's immediate corporate operations funding requirements.

About Iberian Minerals Corp.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Minerals Announces Granting of Options

Mon, 21 Jun 2010 16:45:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/21/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) announced today that a total of 995,000 options to acquire registered shares of the Company have been granted to an officer and certain employees at an exercise price of $0.56 per registered share. The options are non-assignable, have a five-year term and vest over a three year period as to one-third each year, commencing one year after the date of grant.

Following the grant, there are a total of 9,710,000 options to acquire registered shares outstanding pursuant to Iberian's Stock Option Plan.

For further information, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Receives EUR10,093,472 Grant from Junta De Andalucia

Wed, 09 Jun 2010 08:29:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/09/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) is very pleased to report that the previously announced grant of EUR10,093,472 from the Junta de Andalucia has been received in full by Minas de Aguas Tenidas, S.A.U. ("MATSA"). The grant, which was finalized in February this year, relates to the "Programa de Incentivos para el Fomento de la Innovacion y el Desarollo Empresarial en Andalucia" (Incentive Program for the Promotion of Innovation and Business Development in Andalucia) and was awarded based on satisfying certain employment and financial conditions, which Iberian has completed.

Daniel Vanin, President & CEO of Iberian said "We are very pleased with the final receipt of this grant, which was awarded last year. Iberian and the team at MATSA are proud to be part of the success of the region, creating new jobs and opportunities for local people. The government continues to be very supportive of projects in Andalucia, and we are looking forward to being an integral part of the region's economy for many years to come."

For further information please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Minerals Announces Private Placement of Convertible Debentures

Tue, 08 Jun 2010 08:30:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/08/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced that it will conduct, on a non-brokered basis, a private placement of 7% redeemeable convertible debentures due December 31, 2011 (the "Debentures") in the aggregate principal amount of approximately $3.5 million (the "Offering") to certain insiders of Iberian. The Debentures shall be convertible into registered shares of Iberian (the "Shares") at a conversion rate of $0.56 per share.

At any time after the closing of the offering and prior to the maturity date, if the volume weighted average price of the Shares on the TSX Venture Exchange for any consecutive 20 day period is equal to or greater than a 60% premium to the conversion rate, then Iberian shall have the right to accelerate the conversion of the Debentures upon delivery of written notice to the holders. The Debentures are unsecured, and the Offering is expected to close on or around June 15, 2010.

Jeffrey Hillis, Iberian's Chief Financial Officer, stated: "We are pleased to have addressed the previously reported 2010 corporate funding shortfall. Having reviewed various options that were presented to us, it was concluded that this transaction, being the least dilutive, is most advantageous for Iberian at the present time."

The Offering is subject to the approval of the TSX Venture Exchange.

For further information on the conference call, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Minerals Reports First Quarter 2010 Results

Wed, 19 May 2010 17:46:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 05/19/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced financial and operating results for the first quarter ended March 31, 2010, with comparative figures for the first quarter ended March 31, 2008. The Q1 2010 interim consolidated financial statements and related notes, and Management Discussion and Analysis may be found on www.sedar.com. The Company reported a net loss of $10.01 million for Q1 2010, representing $0.03 per share.

Summarized results for the period ended March 31, 2010:

Financial:


--  Net loss was $10.01 million or $0.03 per share, compared with $60.49
million or $0.24 per share for the same period of 2009. The loss in 2010
was primarily due to an unrealized loss on derivative financial
instruments of $12.35 and a gross margin of $(7.56) million partially
off-set by a foreign exchange gain of $13.60 million.

--  Sales in the period were $58.04 million compared to $31.24 million for
the same period of 2009.

--  Cash flow from operations before changes in non-cash working capital was
$11.83 million compared with $12.52 million for the same period of 2009.
Cash flow from operations after changes in non-cash working capital was
$0.17 million compared with $3.01 million for the same period of 2009.


Operational - Condestable:

--  Operations at the Condestable Mine remained in a steady state however
the copper ore grade was lower than expected at 1.10% versus 1.23% in
the first quarter of 2009.

--  CMC processed 551,683 tonnes of ore in the period versus 534,638 tonnes
for the same period of the prior year (increase of 3%).

--  Copper concentrate shipments in the period were 21,283 tonnes versus
24,339 tonnes in the prior year (decrease of 13%).

--  Contained copper production in the period was 5,335 tonnes versus 6,114
tonnes in the prior year (decrease of 13%).

--  Operating costs for the period, C1 and C3, were US$ 1.06 and US$ 1.59
per payable pound of copper versus prior year C1 and C3 of US$ 0.81 and
US$ 1.04 respectively.

Other

--  CMC completed the previously announced purchase from Corianta S.A. of
all remaining interest in the Raul Mine, which forms part of the
Condestable operation (the "Raul Transaction"). The purchase price was
US$ 28.00 million. As such, CMC is no longer obligated to make royalty
payments that it was previously required to pay in connection with the
lease of the Raul Mine.

--  CMC completed the closing of a US$ 55 million senior secured debt
facility which ultimately funded the Raul Transaction.


Operational - MATSA (no comparables for the same period in 2009):

--  MATSA processed 285,212 tonnes of ore in the period.

--  Shipments in the first quarter were 19,403 tonnes of copper concentrate,
5,959 tonnes of zinc concentrate and 6,071 tonnes of copper-lead bulk
concentrate. Contained metal was 4,538 tonnes of copper and 2,933 tonnes
of zinc.

--  Operating costs for the first quarter, C1 and C3, were US$ 2.23 and US$
3.18 per payable pound of copper. C1 and C3 cost figures were higher
than anticipated for steady state as the production rate in the period
was below nameplate capacity of 1.7 Mtpa at 84%. The copper circuit
operated on target while the poly-metallic circuit was below target on
throughput and zinc recovery; however improvement in the poly-metallic
circuit was realized in the quarter versus the fourth quarter of 2009 as
throughput and zinc recovery increased by 97% and 25% respectively.

Other

--  MATSA received from the relevant authority of the Junta de Andalucia in
Spain, the environmental authorization which permits the use of six new
reagents for the operation of the new modular copper/lead flotation
separation circuit at the Aguas Tenidas Mine. The reagents have been
received on site and the bulk copper/lead separation circuit started in
early April.

--  Subsequent to the end of the first quarter, MATSA completed the closing
of a US$ 50.00 million senior secured, revolving debt facility which has
resolved the previously announced funding shortfall.

Summarized Financial Results

For accounting purposes, to September 30, 2009, MATSA was considered to be in a pre-production phase. As such, sales and costs and expenses of mining operations incurred in this phase were not recognized in the operating statement for the comparative period (three months ended March 31, 2009). Commercial production at MATSA was declared with effect from October 1, 2009. Sales and costs of expenses of mining operations for MATSA have been recognized in the operating statement of the Company in the current period (three months ended March 31, 2010).


----------------------------------------------------------------------------
Three months ended March 31,                              2010         2009
----------------------------------------------------------------------------
$            $
Sales                                                   58,037       31,238
Costs and expenses of mining operations                 46,043       15,563
Mine site amortization                                  19,558        7,590
----------------------------------------------------------------------------

Gross margin                                            (7,564)       8,085

Expenses
Administrative expenses and other                        4,027        3,176
Foreign exchange (gain)/loss                           (13,602)       1,445
Unrealized loss on derivative financial
instruments                                            12,352       87,646
----------------------------------------------------------------------------
Total expenses                                           2,777       92,267

Net loss before income taxes                           (10,341)     (84,182)

Non-controlling interest                                     -         (424)
Income tax expense                                       1,479        4,132
Future income tax recovery                              (1,814)     (27,400)
----------------------------------------------------------------------------
Net loss                                               (10,006)     (60,490)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Basic (loss) income per share ($)                        (0.03)       (0.24)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Diluted (loss) income per share ($)                      (0.03)       (0.24)
----------------------------------------------------------------------------
----------------------------------------------------------------------------


Key operating statistics
---------------------------------------------

Condestable:

----------------------------------------------------------------------------
Three months
Three months ended March 31,                   Unit       2010         2009
----------------------------------------------------------------------------

Ore mined                                         t    551,326      527,327
Ore processed                                     t    551,683      534,638

Copper ore grade                                  %       1.10         1.23
Concentrate grade                                 %         25           25
Copper recovery rate                              %         88           93

Copper concentrate                              DMT     21,283       24,339

Copper contained in concentrate                   t      5,335        6,114
Gold contained in concentrate                    oz      3,259        4,686
Silver contained in concentrate                  oz     66,046       60,487

Payable copper contained in concentrate           t      5,097        5,824
Payable gold contained in concentrate            oz      2,951        4,205
Payable silver contained in concentrate          oz     59,144       55,083

C1 cost per lb of payable copper                USD $     1.06   $     0.81
C3 cost per lb of payable copper                USD $     1.59   $     1.04
----------------------------------------------------------------------------


MATSA:

----------------------------------------------------------------------------
March 31,     December
Three months ended,                            Unit        2010     31, 2009
----------------------------------------------------------------------------

Copper ore
---------------------------------------------
Ore mined                                         t     285,212      322,275
Ore processed                                     t     281,685      321,951

Copper ore grade                                  %        1.88         1.84
Concentrate grade                                 %          23           23
Copper recovery rate                              %          86           81

Copper concentrate                              DMT      19,403       20,398

Copper contained in concentrate                   t       4,538        4,800
Silver contained in concentrate                  oz      64,471       51,536

Payable copper contained in concentrate           t       4,344        4,596
Payable silver contained in concentrate          oz      45,756       31,862

Polymetallic ore
---------------------------------------------
Ore mined                                         t      61,659       56,881
Ore processed                                     t      75,875       38,507

Copper ore grade                                  %        1.27         1.20
Copper/lead bulk concentrate grade                %          10           12
Copper recovery rate                              %          66           62

Zinc ore grade                                    %        6.11         6.57
Zinc concentrate grade                            %          49           49
Zinc recovery rate                                %          64           51

Copper/lead bulk concentrate                    DMT       6,071        2,368
Zinc concentrate                                DMT       5,959        2,473

Copper contained in concentrate                   t         629          274
Zinc contained in concentrate                     t       2,933        1,218
Silver contained in concentrate                  oz      73,095       20,605

Payable copper contained in concentrate           t         568          250
Payable zinc contained in concentrate             t       2,456        1,020
Payable silver contained in concentrate          oz      54,911       18,321

----------------------------------------------------------------------------
C1 cost per lb of payable copper                USD $      2.23  $      2.61
C3 cost per lb of payable copper                USD $      3.18  $      3.34
----------------------------------------------------------------------------

Outlook

The outlook for CMC is positive in that it will continue to produce copper concentrate at similar levels to 2009. CMC set two priorities entering 2010. The first priority was to complete the Raul Transaction, which occurred on March 31, 2010. The purchase of the Raul mine lease and royalty generally allows for greater control over the mining operation and eliminates the Raul royalty payments. In connection with this, CMC successfully completed the CMC Facility. The second priority is to improve reliability of the operation by investing US$ 3.30 million in improvement of secondary crushing. This project is progressing on target.

It is expected that CMC will process 2.2 million tonnes of ore in 2010, in line with 2010 guidance. The projected contained copper production for 2010 is now expected to be 24,000 t or 2% lower than prior 2010 guidance issued, primarily due to lower than expected copper ore grade realized in the first quarter. It is expected, for the balance of 2010, CMC will have access to higher copper ore grades from the Karina vein.

At MATSA both circuits at the processing plant are operational and processing results continue to improve as evidenced by the first quarter operating results.

Enhancements to the poly-metallic circuit were concluded in the first quarter of 2010 which have allowed production of a separate copper concentrate and low quality lead concentrate, rather than a bulk concentrate, since early April 2010. The planned process plant expansion to increase capacity to the equivalent of 2.2 million tonnes per annum is underway and is on target for expected completion in August 2010 with the anticipated increase in production of 30% expected to commence in September 2010.

At the outset of 2010, MATSA set three significant short term priorities.

First, a projected funding shortfall for 2010 of between approximately US$ 40.00 million and US$ 45.00 million was identified. MATSA successfully addressed this funding requirement through the closing of the US$ 50.00 million Senior Facility which was completed in April 2010.

Second, MATSA sought to successfully complete and implement the current enhancements to the poly-metallic circuit. The modular installation was completed and commissioned in Q1 2010. The effective use of this circuit is dependent on additional reagents being used. MATSA received from the relevant authority of the Junta de Andalucia, in Spain, the environmental authorization which permits the use of six new reagents for the operation of the new modular copper/lead flotation separation circuit at the Aguas Tenidas Mine. The bulk separation circuit was started in early April and MATSA is now achieving separation and is producing a copper concentrate and a low quality lead concentrate from the poly-metallic circuit, although further optimization is being undertaken.

Finally, during 2010, MATSA seeks to successfully complete and implement the planned processing plant expansion. Currently, the Company is on track to be operating at the 2.2 Mtpa level by the end of the third quarter of 2010. The capital cost estimate for the expansion is expected to be approximately US$ 15.00 million and consists of mine and processing equipment that is comparable in nature to that currently employed in the operations. The ability to operate at the increased level will depend on added employment, successful completion of certain labour arrangements, and applications to the government authorities for the necessary permits to allow operations at the increased level of 2.2 Mtpa. There can be no assurance as to the fact or timing of, or conditions attached to any government permits or authorizations. While the Company does not anticipate any issues relating to an end of Q3 operation at 2.2 Mtpa, the impact of any negative developments in this regard would be the inability to expand the processing plant, either in whole or in part.

The Company projects that MATSA is now on track to process between 1.8 million and 1.9 million tons of ore for 2010 versus 2010 guidance previously issued of 1.9 million to 2.0 million, or a reduction of approximately 5%.

About Iberian Minerals Corp.

The C1 cash cost per pound of payable copper includes cash operating costs, including treatment and refining charges ("TC/RC"), freight and distribution costs, and is net of by-product metal credits.

The C3 cost per pound of payable copper includes C1 and additional costs such as site amortization, royalties and interest costs.

C1 and C3 indicators are consistent with the widely accepted industry standard established by Brook Hunt. Prior C1 and C3 figures have been restated where necessary to conform to this standard.

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. Forward-looking 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. Assumptions upon which such forward-looking statements are based included that all required third party regulatory and governmental approvals will be obtained. 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the annual Management's Discussion and Analysis and Annual Information Form 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

Iberian Minerals to Host Conference Call for Q1 2010 Results

Wed, 19 May 2010 16:30:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 05/19/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced that a conference call concerning first quarter financial and operating results will be held on Friday, May 21st, at 8am EDT.


Conference Call Information:

Participant dial-in number(s):          416-695-7806 / 888-789-9572
Participant pass code:                  5846645

Conference Call Replay:

Dial-in number(s):                      416-695-5800 / 800-408-3053
Pass code:                              7133470

The conference call replay will be available until 11:59 p.m. EDT on May 28, 2010.

For further information on the conference call, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated April 30, 2009. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558
www.iberianminerals.com

Iberian Minerals Conference Call Rescheduled

Mon, 12 Apr 2010 09:04:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 04/12/10 -- Iberian Minerals Corp. (TSX VENTURE: IZN) today announced that a conference call concerning year-end financial results and recent corporate developments will be held on Tuesday April 13th, at 9am EST.


Conference Call Information:

Participant dial-in number(s):          416-340-2217 / 888-696-5910
Participant pass code:                  8045327

Conference Call Replay:

Dial-in number(s):                      416-695-5800 / 800-408-3053
Pass code:                              1285222

The conference call replay will be available until 11:59 p.m. EST on April 17, 2010.

For further information on the conference call, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

Iberian Minerals Corp. is a Canadian listed global base metals company with interests in Spain and Peru. The Condestable Mine, located in Peru approximately 90 km south of Lima operates at 2.2 million tonnes per year producing copper, and associated silver and gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia region of Spain approximately 110 km north-west of Seville and operates a 1.7 million tonnes per year underground mine and concentrator that produces copper, zinc and bulk copper/lead concentrates that also contain gold and silver.

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. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 the Corporation 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 forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled "Risk Factors" in the Corporation's annual information form dated April 30, 2009. Although the Corporation 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. The Corporation 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.

Contacts:
Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558