Iberian Minerals Corp.

Iberian Minerals Corp.

July 18, 2007 16:15 ET

Iberian Minerals Corp Reports on an Accident at Its Aguas Tenidas Project in Spain

TORONTO, ONTARIO--(Marketwire - July 18, 2007) - Iberian Minerals Corp. ("Iberian") (TSX VENTURE:IZN) regrets to announce there was a fatality this morning at its Aguas Tenidas project in Spain.

The accident occurred underground in stope access 840-670 as the result of a rockfall in an area previously 'made safe' by scaling.

Jose Francisco Caro Ruiz was a driller employed by Insersa, the mining contractor to Minas de Aguas Tenidas SAU. He was 43 years old and leaves his wife and 18 year old son. His loss is deeply mourned by the management and staff at the mine.

A full investigation to determine the cause of the accident has commenced by the health and safety authorities in Spain and its findings are expected in 10 to 15 days time.

Underground operations at Aguas Tenidas have been suspended until after the funeral.

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). Elements of this feasibility report have been updated by Adam Wheeler and RSG Consulting Pty Ltd. (press release of May 22, 2007), which is available at www.sedar.com. 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.

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.

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.

Contact Information

  • Iberian Minerals Corp.
    Peter Miller or Norm Brewster
    (416) 815-8558