Iberian Minerals Corp.
TSX VENTURE : IZN

Iberian Minerals Corp.

October 26, 2009 08:57 ET

Iberian Minerals Declares Commercial Production at Aguas Tenidas

TORONTO, ONTARIO--(Marketwire - Oct. 26, 2009) - Iberian Minerals Corp. (TSX VENTURE:IZN) announced today that it has declared commercial production at the Aguas Tenidas Mine in Spain. As such, for accounting purposes, effective October 1, 2009, all revenue and expenses will be accounted for as part of the income statement of the Corporation.

Daniel Vanin, President, commented:

"This is truly an important day and event for our Company.

Aguas Tenidas is producing saleable copper, zinc and bulk copper/lead concentrates, and the plant is performing well at this time. Both circuits are fully functional. As such, we are declaring commercial production for the Mine. I would like to thank all of our employees for helping the Company achieve this important milestone as well as all our shareholders for their continuing support.

We expect that the modular installation previously announced will further enhance the plant's capability, and allow copper/lead separation of bulk concentrates to begin in Q1 of 2010. Following this enhancement, the plant will produce four concentrates from our two circuits, with the copper concentrate from the copper and polymetallic circuits being mixed prior to shipment to port."

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 in the Andalucia region of Spain approximately 110 km north-west of Seville operates a 1.7 million tonnes per year underground mine and concentrator that produces copper, zinc and bulk copper/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 annual Management's Discussion and Analysis and Annual Information Form 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.

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.

Contact Information

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