Iberian Minerals Corp.: Press Release

Iberian Minerals Corp. (TSX VENTURE:IZN) is pleased to report on the ongoing
development at the Aguas Tenidas copper/zinc project located in Andalucia, SW
Spain. Several recent key developments onsite include the completion of the
pilot plant, now installed, which is operational and capable of treating 240kg
of material per hour. As well installation of tertiary mills is completed along
with the completed assembly of the regrinding mills onsite, onsite assembly of
the SAG and ball mills is ongoing.


The Company is extremely pleased that these long lead time critical pieces of
equipment are in place at the project.


Civil works on the north stockpile tunnel have been completed, polishing pond
infrastructure is complete, general warehousing infrastructure is complete, and
the UVR4 ventilation shaft construction is complete. Additionally the Company
has recently initiated construction of the tailings deposit facility, commenced
the main electrical substation civil works, and begun the installation of
flotation cells. Development of the Santa Barbara ramp continues in competent
rhyolite rock.


MATSA has approved a 4500m stockwork drilling program designed to test the
extent of the copper stockworks in the eastern end of the Aguas Tenidas
mineralization. Additional to the underground program there will be several
surface holes drilled to test the extent of the stockworks system under the
central and western portions of the known mineralization at Aguas Tenidas.


The technical update information above has been provided by Mr. Americo
Villafuerte, General Manager at Aguas Tenidas and COO for the Company. Mr. Jose
Malave B.Sc, the Geology and Exploration Manager at Aguas Tenidas and a
"qualified person" as such term is defined under National Instrument 43-101, has
reviewed and verified the technical information contained in this press release
and has approved the contents of this press release.


FORWARD LOOKING STATEMENTS:

This news release contains certain "forward-looking statements" and
"forward-looking information" under applicable securities laws concerning
Iberian's transactions with Trafigura. 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 transactions will be
completed, that all required third party regulatory and governmental approvals
for transactions will be obtained and all other conditions to completion of the
transactions will be satisfied or waived. Many of these assumptions are based on
factors and events that are not within the control of Iberian or Trafigura 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 failure to reach definitive agreements in
respect of the contemplated transactions, as well as 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.
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