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Iberian Receives Permanent Aguas Tenidas Permit

09:00 EDT Monday, August 10, 2009

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - Iberian Minerals Corp. (TSX VENTURE:IZN) today announced that on August 5, 2009, the Junta de Andalucia issued the final combined process plant permit for the Aguas Tenidas Mine, such that all principal permits for operations at Aguas Tenidas are now in place, and permanent The final process plant permit, as granted, is for the life of mine with no time limits. A final five year permanent permit is also in place for underground mining.

The Mine paste plant has also received a three month interim provisional permit, which will mature to permanent status on filing of additional material and administrative process.

Daniel Vanin, President of Iberian commented: "We have reached a milestone event. Permitting is always a time consuming process, and we are extremely pleased that our two interim permits for our copper and polymetallic circuits in the processing plant have now matured to permanent life of mine status. This achieves another key goal for our operation and Company."

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. Ramp-up continues on a 1.7 million tonnes per year underground mine and concentrator that will produce copper, zinc and 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", "except", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. 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. Assumptions upon which such forward-looking statements are based included that all required third party regulatory and governmental approvals will be obtained. Many of these assumptions are based on factors and events that are not within the control of Iberian 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 management information circular of Iberian dated November 20, 2007 and in the annual Management's Discussion and Analysis for Iberian filed with the applicable securities regulatory authorities and available at www.sedar.com. Although Iberian 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. Iberian 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Iberian Minerals Corp.
Laura Sandilands
Investor Relations and Corporate Communications
416-815-8558

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.