Iberian Minerals Corp. Announces Release of Funds from Escrow

Iberian Minerals Corp. (TSX VENTURE:IZN) ("Iberian") is pleased to announce that
it received on Wednesday, Sept. 5th 2007, the sum of $3,830,084.19 from Dundee
Resources Limited ("Dundee") as a result of satisfying the final release
condition of the previously completed private placement of Special Warrants to
Dundee. These conditions were met by: i) the receipt of permits and licences to
construct and operate a tailings deposit and a processing plant at the Aguas
Tenidas project, and ii) the conversion of 30,000,000 subscription rights into a
similar number of Iberian common shares, which was completed on November 17th
last year. This sum represents the gross proceeds, plus accrued interest, from
the sale of an aggregate of 2,846,154 Special Warrants by Iberian to Dundee at a
price of $1.30 per Special Warrant, which was completed on September 19th 2006.


As a result of satisfying the escrow release conditions, each Special Warrant
held by Dundee shall automatically convert into one common share of Iberian (a
"Share"), one quarter of one Series 1 common share purchase warrant (the "Series
1 Warrant") and one quarter of one series 2 common share purchase warrant (the
"Series 2 Warrant"). Each whole Series 1 Warrant will entitle the holder at any
time for a period of two years from the date of issuance thereof (the "Initial
Exercise Period") to acquire one Share at an exercise price of $2.20. Each whole
Series 2 Warrant will entitle the holder at any time for a period of two years
from the date of issuance thereof to acquire one Share at an exercise price of
$2.60. Notwithstanding the foregoing, each whole Series 2 Warrant is exercisable
by the holder for an additional two years from the last day of the Initial
Exercise Period if, during the Initial Exercise Period, Iberian becomes classed
as a Tier 1 company on the TSX-V, lists on the Toronto Stock Exchange or is
otherwise permitted by applicable regulations to issue common share purchase
warrants exercisable for four years.


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.


This press release includes 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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