Iberian Minerals Corp.
TSX VENTURE : IZN

Iberian Minerals Corp.

June 11, 2009 08:31 ET

Iberian Minerals Announces AGM Results

TORONTO, ONTARIO--(Marketwire - June 11, 2009) - Iberian Minerals Corp. (TSX VENTURE:IZN) announced today that shareholders approved the proposal to continue the Corporation under the laws of Switzerland at the annual and special meeting of shareholders held yesterday afternoon. With approximately 58% of outstanding shares represented in person or by proxy at the meeting, over 99% of the votes cast were in favour of the continuance. The Corporation is proceeding to immediately file the necessary paperwork in both Switzerland and Canada to effect the continuance, which is expected to be completed within the next 7 to 10 days.

Daniel Vanin, President and Chief Executive Officer, stated: "We are pleased that our shareholders have approved this continuance, which we believe will be of great benefit to the Iberian group of companies and all shareholders going forward."

In addition, shareholders approved the election of each of management's nominees for the Board of Directors, being incumbent directors Daniel Vanin, Norman Brewster, Jeremy Weir, Jesus Fernandez, Murray John, Lionel J. Gunter and Phillipe Blavier, and one newly elected director, David Poynton, who is the Senior Vice-President, General Counsel and Corporate Secretary of Iberian.

In connection with the Corporation's previously announced private placement offering of 76,925,000 special warrants, Iberian is pleased to announce it received a final receipt dated June 5, 2009 for its short-form prospectus to qualify the common shares issuable upon the exercise of such special warrants. Accordingly, the penalty provision included as a term of the special warrants will not be payable. In connection with such offering, the Corporation has been advised that Trafigura Beheer B.V. has acquired 47,493,000 common shares in addition to those shares previously disclosed as being acquired, bringing Trafigura's aggregate holdings in Iberian to 154,582,163 common shares, or approximately 45.93% of the outstanding shares of the Corporation.

About Iberian Minerals Corp.

Iberian Minerals Corp. is a Canadian-based 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 concentrates that also have associated silver and gold. 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 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