Iberian Minerals Corp.
TSX VENTURE : IZN

Iberian Minerals Corp.

May 27, 2009 14:13 ET

Iberian Minerals Files Short Form Prospectus

TORONTO, ONTARIO--(Marketwire - May 27, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES.

Iberian Minerals Corp. (TSX VENTURE:IZN) announced today that it has filed a preliminary short-form prospectus to qualify the common shares of the Company ("Common Shares") issuable upon the exercise of the 76,925,000 special warrants of the Company ("Special Warrants") issued on May 26, 2009.

Each Special Warrant is exercisable into one Common Share. The Company has agreed to use its best efforts to obtain a receipt for a final short-form prospectus qualifying for sale the Common Shares underlying the Special Warrants. In the event that a receipt for a final short-form prospectus is not received on or before July 27, 2009, each unexercised Special Warrant will thereafter entitle the holder thereof to receive, at no additional cost, 1.1 Common Shares (instead of one Common Share).

Iberian also announced that the TSX Venture Exchange has conditionally accepted notice of the proposed re-domicile of the Company by way of continuance to Switzerland. The Company's intention to effect the continuance was previously announced on May 11, 2009 and the continuance is to be considered at the Company's Annual and Special Meeting of Shareholders on June 10, 2009.

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 management information circular of Iberian dated November 20, 2007 and 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.
    David Poynton, Senior Vice-President,
    General Counsel and Corporate Secretary
    416-815-8558
    or
    Iberian Minerals Corp.
    Laura Sandilands
    Investor Relations and Corporate Communications
    416-815-8558