Iberian Minerals Ltd.

Iberian Minerals Ltd.

November 17, 2014 12:20 ET

Iberian Minerals Closes $275,000 Non-Convertible Secured Debenture

CALGARY, ALBERTA--(Marketwired - Nov. 17, 2014) - Iberian Minerals Ltd., formerly Solid Resources Ltd., ("Company") (TSX VENTURE:IML)(OTCQB:SLDRF) announced today the closing of the non-convertible secured debentures in the principal amount of CDN $275,000, which was previously announced on November 5, 2014, subject to final approval of the TSX Venture Exchange. The debentures mature on October 31, 2015 and bear interest at the rate of 15% per annum.

Further to its news releases dated August 13, 2014, August 15, 2014 and November 5, 2014, the Company has amended the terms of debentures sold pursuant to a previous debt offering such that the maturity date of such debentures has been extended to mature on October 31, 2015. All other terms of the debentures remain the same and there will be no further shares issued than as contemplated in the original debenture issuance. The original debentures will rank equally with those being sold under the Company's second debt offering.

The Company can redeem the debentures at any time upon ten days prior written notice. The payment of the debentures is secured by a security interest granted by the Company in respect of all present and after-acquired personal property of the Company, excluding the shares held of its foreign subsidiaries.

The subscribers in the latest debenture will be entitled to receive a bonus of an aggregate of 275,000 shares. The bonus shares are subject to resale restrictions in Canada that expires four months plus one day from the closing date.

Finders acting in connection with the Offering received aggregate fees of Cdn $17,500.

The Company intends to expend the proceeds of the private placement for general corporate and working capital purposes.

About Iberian Minerals

Iberian Minerals is a Canadian junior mining company focused in Spain on the exploration and development of rare and industrial metals. The Company is currently studying the re-opening of the Cehegín iron ore concessions in south-eastern Spain and is applying for an exploitation permit on its Alberta-1 tantalum/tin and lithium property in north-western Spain. For further information go to www.iberianminerals.ca.

Neither the 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.

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