IZN InZinc Mining Ltd

Iberian Minerals Corp. (TSX VENTURE: IZN) today announced that its subsidiary, Compania Minera Condestable S.A. ("Condestable"), has executed required hedging in connection with the US$ 55 million senior secured debt facility which was completed on March 31, 2010.

The hedging has been executed using a zero cost collar hedging strategy whereby positions have been entered into to achieve a minimum hedge price and a maximum hedge price. This ensures that Condestable will realize a minimum price of $6,500 per FMT of copper and market price participation up to $8,760 per FMT of copper. There is no cost to the Company for this collar hedging strategy.

This hedging requirement is at a reasonable level of approximately 25% of forecast payable copper production from February 2012 to March 2013. During this period Condestable will realize the market copper price on the hedged copper volume so long as the market copper price is within the collar price range. The remaining 75% un-hedged copper volume will be fully exposed to copper market price fluctuations. The Company has no plans to hedge additional copper production at Condestable.

Existing and proposed hedging is set out in the following table:

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                       2010   2010   2011   2011   2012   2012   2013  TOTAL
                         S1     S2     S1     S2     S1     S2     S1
Existing Hedging
 Volumes
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Cu Forwards    FMT   10,200 10,275 10,275 10,350  1,750               42,850

Cu price       USD/t  4,419  4,419  3,583  3,408  3,408                3,933
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New Collar Hedging
 Volumes
Copper
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Volume         FMT                                2,500  3,000  1,500  7,000
Minimum price  USD/t                              6,500  6,500  6,500
Maximum price  USD/t                              8,760  8,760  8,760

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Cu % hedged             82%    83%    83%    83%    34%    24%    24%    62%
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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 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