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Iberian Starts Up Copper Concentrate Production at Minas De Aguas Tenidas

08:36 EST Monday, December 22, 2008

TORONTO, ONTARIO--(Marketwire - Dec. 22, 2008) - Iberian Minerals Corp. ("Iberian" or the "Corporation") (TSX VENTURE:IZN) and its wholly owned subsidiary Minas Aguas Tenidas S.A. ("MATSA") are pleased to announce that the first copper concentrates have been produced at the Aguas Tenidas mine on December 21st, 2008. The Aguas Tenidas mine is located in the Andalucia region of Spain. The copper concentrate was produced out of the copper flotation circuit that has a design process capacity of 850,000 tonnes of ore annually.

The polymetallic circuit, which is designed to produce copper, zinc and lead concentrates, that also has a design process capacity of 850,000 tonnes of ore annually and is expected to be commissioned at the end of January 2009. MATSA has received process plant permits and approvals required to operate the concentrator and surface tailings disposal facility.

The first copper concentrates are expected to be shipped in January with zinc and lead concentrates expected to follow in February. Development of the underground mine is well advanced with completion in early December of the new primary haulage ramp. Approximately 55,000 tonnes of ore from mine development has been stockpiled in advance of the commissioning phase of the project. Underground exploration is continuing to upgrade inferred resources to measured and indicated categories for inclusion in the mine plan as well as delineation of the copper stockworks resources.

In commenting on this landmark occasion, Daniel Vanin, President and CEO of Iberian stated: "The operating and management team at Aguas Tenidas are to be commended for an excellent mine construction program, and successful mine start-up. We look forward to successful ramp up to full production levels. This mine is a significant accomplishment for Iberian and the Andalucia Region, and I would like to take this opportunity to thank the Aguas Tenidas management and construction teams, together with the Spanish and European contractors assisting in the mine construction, for their hard work, as well as the Autonomous Government of the Andalucia Region, and the Government of Spain for their support in helping make the Aguas Tenidas Mine a reality. I would like to also thank all the people of Iberian, past and present, and in particular, our directors and shareholders for their continuing support of the Company and its efforts."