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

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. 

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.
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