IZN InZinc Mining Ltd

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.

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