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Iberian Minerals Moves to TSX Venture Tier 1

09:00 EDT Monday, October 04, 2010

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2010) - Iberian Minerals Corp. (TSX VENTURE:IZN) is pleased to announce that it has satisfied the TSX Venture Exchange's ("TSXV") requirements for listing as a Tier 1 issuer pursuant to Policy 2.5 -- Tier Maintenance Requirements and Inter-Tier Movement and, accordingly, the TSXV has approved Iberian's graduation to Tier 1. Effective October 4, 2010, Iberian's tier classification will change from Tier 2 to Tier 1.

Mr. Daniel Vanin, President & CEO of Iberian stated: "The acceptance by the TSXV of Iberian's application for status as a Tier 1 issuer reflects our accomplishments to date at both our Condestable Mine in Peru, and our Aguas Tenidas Mine in Spain. We believe this graduation recognizes Iberian's profile as an up and coming, mid-sized, base metals producer".

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