Iberian Minerals Corp.
TSX VENTURE : IZN

Iberian Minerals Corp.

November 18, 2008 09:15 ET

Iberian Minerals Corp. Announces Senior Management Appointment

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2008) - Iberian Minerals Corp. (TSX VENTURE:IZN) Iberian ("Iberian") announces that, as part of its continuing corporate development strategy, David Poynton has joined Iberian as Senior Vice-President, General Counsel and Corporate Secretary.

Mr. Poynton has over 20 years of legal experience in private practice, primarily focusing on the mining industry. With a solid background in corporate and commercial business law, ranging from day-to-day advice to structuring and implementation of complex domestic and global M&A and financing transactions, Mr. Poynton has a unique understanding of the industry, and the issues that face the industry.

Daniel Vanin, President and CEO of Iberian said: "We are excited to have David join our team, as we move forward in our goal to become a global intermediate base metal producer."

Mr. Norman Brewster, Chairman, added, " Mr. Poynton has invaluable skills and talents, both on the legal and business advice fronts, that will advance our interests in the global mining and metals concentrates markets."

In conjunction with his appointment Mr. Poynton has been granted 350,000 options to purchase shares of Iberian at a price of $0.80 per share. The options have a 5 year term and vest over 24 months, one-third immediately, one-third after 12 months, and one-third after 24 months. The appointment and issuance of options is subject to regulatory approval.

About Iberian Minerals Corp.

Iberian Minerals Corp. is a Canadian-based global copper and zinc company with developing and producing interests in Spain and Peru. The Company operates the 6,000 tonnes per day Condestable mine in Peru approximately 90 km south of Lima that produces copper and associated silver and gold in a concentrate. The Aguas Tenidas mine is a major copper-zinc project in the Iberian Pyrite Belt in Andalucia region of Spain approximately 110 km west of Seville. Construction is nearing completion on a 1.7 million tonne per annum underground mine and concentrator that will produce copper and zinc concentrates that also contain gold, silver and lead. Iberian Minerals Corp. is well-funded with a strong, experienced management team and a significant partner in its largest shareholder, Trafigura Beheer B.V.

This press release does not constitute an offer of the securities in the Unites States, Canada or elsewhere. The e securities of Iberian have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt there from.

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 management information circular of Iberian dated November 20, 2007 and in the annual Management's Discussion and Analysis 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.

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

Contact Information

  • Iberian Minerals Corp.
    Victoria Vargas, Vice President Investor Relations
    and Corporate Communications
    (416) 815-8558