Breaking News

Iberian Minerals Announces AGM Results

08:31 EDT Thursday, June 11, 2009

TORONTO, ONTARIO--(Marketwire - June 11, 2009) - Iberian Minerals Corp. (TSX VENTURE:IZN) announced today that shareholders approved the proposal to continue the Corporation under the laws of Switzerland at the annual and special meeting of shareholders held yesterday afternoon. With approximately 58% of outstanding shares represented in person or by proxy at the meeting, over 99% of the votes cast were in favour of the continuance. The Corporation is proceeding to immediately file the necessary paperwork in both Switzerland and Canada to effect the continuance, which is expected to be completed within the next 7 to 10 days.

Daniel Vanin, President and Chief Executive Officer, stated: "We are pleased that our shareholders have approved this continuance, which we believe will be of great benefit to the Iberian group of companies and all shareholders going forward."

In addition, shareholders approved the election of each of management's nominees for the Board of Directors, being incumbent directors Daniel Vanin, Norman Brewster, Jeremy Weir, Jesus Fernandez, Murray John, Lionel J. Gunter and Phillipe Blavier, and one newly elected director, David Poynton, who is the Senior Vice-President, General Counsel and Corporate Secretary of Iberian.

In connection with the Corporation's previously announced private placement offering of 76,925,000 special warrants, Iberian is pleased to announce it received a final receipt dated June 5, 2009 for its short-form prospectus to qualify the common shares issuable upon the exercise of such special warrants. Accordingly, the penalty provision included as a term of the special warrants will not be payable. In connection with such offering, the Corporation has been advised that Trafigura Beheer B.V. has acquired 47,493,000 common shares in addition to those shares previously disclosed as being acquired, bringing Trafigura's aggregate holdings in Iberian to 154,582,163 common shares, or approximately 45.93% of the outstanding shares of the Corporation