Zinc

[Lone Clone]

Iberian Minerals Corp.: Aguas Tenidas Receives Operating Permit for Tailings Facility
Mon Jun 25, 1:31 PM

http://ca.news.finance.yahoo.com/s/25062007/28/link-finance-news-iberian-minerals-corp-aguas-tenidas...

TORONTO, ONTARIO--(CCNMatthews - June 25, 2007) - Iberian Minerals Corp. (TSX VENTURE: IZN.V) is pleased to announce that MATSA (Minas de Aguas Tenidas SAU), its wholly owned Spanish subsidiary, today received the permit required to operate the planned tailings facility at its Aguas Tenidas zinc/copper project in SW Spain.

The permit is subject to various conditions usual for a permit of this type, including the posting of a guarantee by MATSA with the applicable regulatory authorities, certain insurance requirements and various technical baseline and ongoing monitoring studies. Certain technical approvals are also required at various stages to ensure the integrity of the construction process and operation of the facility over the life of the project.

The Company is delighted with the level of support it has received for the Aguas Tenidas project from all sectors of Andalucian society. It is also pleased to note the very co-operative manner in which the regional authorities have handled the process of granting this permit. This process resulted in a number of design improvements for the tailings facility at a lower initial capital cost than had been originally forecast.

The Aguas Tenidas tailings facility, designed by Golders & Associates, will contain high density, cemented, paste tailings. This commercially proven process is more stable and environmentally friendly (low water usage) than conventional slurry tailings.

The receipt of this permit was one of the last outstanding pre-conditions for the bank project financing package currently being negotiated for Aguas Tenidas.

About Iberian Minerals Corp.

Iberian Minerals Corp., through its wholly owned subsidiary MATSA, is currently proceeding with the re-opening of the Aguas Tenidas copper/zinc project located in the Region of Andalucia, SW Spain. In January 2006, a feasibility report on the project was prepared by SRK Consulting of Cardiff UK, which demonstrated the technical feasibility and economic viability of the project (press release January 20, 2006). The project has sufficient reserves for a 13 year operating life at a production rate of 1.60 million tonnes annually. As press released May 22nd, 2007 the Company plans to have available for release shortly an updated technical report. The Company has also signed a long-term offtake agreement with Trafigura Beheer AG for the sale of all its metal concentrates from Aguas Tenidas.

The Company is in the process of arranging a financing package for the project through a combination of project bank debt, subordinated debt, and equity.

In addition to the Aguas Tenidas project the Company, through MATSA, holds an extensive land position of exploration properties within the Iberian Pyrite Belt.

Iberian Minerals Corp. trades on the TSX-V under the symbol IZN. As of June 22nd, 2007 there were 167,954,103 shares issued and outstanding.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are in Canadian dollars unless otherwise noted.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Peter Miller or Norm Brewster
Iberian Minerals Corp.
[phone]