Iberian Minerals Corp. Confirms Payment of Interest to Dundee Resources Limited

Iberian Minerals Corp. (TSX VENTURE:IZN)

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN SECURITIES LAW, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.


Pursuant to the convertible subordinated debenture (the "Debenture") in the
amount of $25,000,000 issued to Dundee Resources Limited ("Dundee") on July 26,
2006, Iberian Minerals Corp. ("Iberian") paid the July 26, 2007 interest payment
of $743,835.62 owing to Dundee by the issuance to Dundee of 473,780 common
shares in the capital of Iberian (the "Common Shares") as provided for in the
Debenture. The Debenture bears interest at a rate of 6% per annum, payable
semi-annually on January 26th and July 26th in each year. The number of Common
Shares was calculated by dividing the $743,835.62 payment owed by the market
price of the Common Shares. The Common Shares are subject to a four-month and
one day hold period under securities laws and are not freely tradable until the
hold period expires on December 9, 2007.


About Iberian Minerals Corp.

Iberian Minerals Corp., through its wholly owned subsidiary MATSA, is currently
proceeding with the re-opening of the Aguas Tenidas copper/zinc project located
in the Region of Andalucia, SW Spain. In January 2006, a feasibility report on
the project was prepared by SRK Consulting of Cardiff UK, which demonstrated the
technical feasibility and economic viability of the project (press release
January 20, 2006). Elements of this feasibility report have been updated by Adam
Wheeler and RSG Consulting Pty Ltd. (press release of May 22, 2007), which is
available at www.sedar.com. The Company has also signed a long-term offtake
agreement with Trafigura Beheer AG for the sale of all its metal concentrates
from Aguas Tenidas.


In addition to the Aguas Tenidas project the Company, through MATSA, holds an
extensive land position of exploration properties within the Iberian Pyrite
Belt.


Iberian Minerals Corp. trades on the TSX-V under the symbol IZN.

These securities 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.


This press release may include certain "Forward-Looking Statements" within the
meaning of the US Private Securities Reform Act of 1995. Other than statements
of historical fact, all statements are "Forward-Looking Statements" that involve
such various known and unknown risks, uncertainties and other factors. There can
be no assurance that such statements will prove accurate. Results and future
events could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements". All dollar amounts are in Canadian dollars unless
otherwise noted.

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