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Iberian Minerals Announces Stock Options and Issues Update on Aguas Tenidas Hedging

09:01 EDT Monday, September 21, 2009

TORONTO, ONTARIO--(Marketwire - Sept. 21, 2009) - Iberian Minerals Corp. (TSX VENTURE:IZN) announced today that 100,000 options to acquire commons shares of the Company have been issued to an employee of a subsidiary company at a exercise price of $0.55 per common share. The options are non-assignable and have a five-year term and vest over three years as to one-third each year, commencing one year after the date of grant.

There are now a total of 10,070,000 options to acquire common shares outstanding pursuant to the Company's Stock Option Plan.

Hedging Update - Aguas Tenidas Mine

The Company has completed a refinement of its short-term hedge position. To summarize, on existing copper hedges:

- Rolled September positions of 4,750 mt @ $4,943 to Feb. 2010

- Fixed current QPs as follows:

-- Sep. '09 - 425 mt @ $6,012

-- Nov. '09 - 525 mt @ $6,111

-- Nov. "09 - 275 mt @ $6,270

with an overall impact to reduce net copper hedges in 2009 by 3,525 mt. For the balance of 2009, the Company has 1,725 mt of copper from the Aguas Tenidas Mine hedged at an average of $6,208. Consequently the 2010 positions have increased by 4,750 mt. Total hedgeable copper production in 2010 is 20,100 mt at an average of $4,116 which is now 78% of budgeted hedgeable copper production for 2010.

As noted previously, the Company will continue to monitor and adjust its hedge book as is considered expedient from time to time