Iberian Minerals Corp.
TSX VENTURE : IZN

Iberian Minerals Corp.

July 07, 2011 10:01 ET

Iberian Minerals Hires Project Manager For Sotiel Mine

TORONTO, ONTARIO--(Marketwire - July 7, 2011) - Iberian Minerals Corp. (TSX VENTURE:IZN) today announced the hiring of Guy Lauzier as Project Manager at the Sotiel Mine. Guy will also be heading up the team responsible for the expansion of the processing plant at Aguas Tenidas.

The Company has engaged engineering and construction companies who will be undertaking a variety of works at both Sotiel and Aguas Tenidas this summer in anticipation of making a formal decision regarding production at Sotiel.

The primary focus is de-watering of the existing mine, which will allow access to the underground. A water treatment plant will be installed on site in conjunction with the de-watering of Sotiel. Work has begun in surveying, geology evaluation, and underground exploration which will be necessary to validate historical resources to 43-101 compliant standard, as previously reported on May 5th.

Outside contractors will be undertaking survey work for roads and potential ramp locations. Regional and structural geology are also being compiled to aid in interpretation of the Sotiel deposits.

"Adding Guy Lauzier to the team is an important first step in bringing the Sotiel Mine to a production decision. There is much work to be done this summer, and we are confident that Guy will effectively lead the teams at both Sotiel and Aguas Tenidas." said Daniel Vanin, President and Chief Executive Officer of Iberian.

Guy Lauzier, an engineer with over thirty years in a background in mine and plant construction, has been involved in several projects in Southern Europe.

For further information, please contact the Investor Relations Department, or visit our website, www.iberianminerals.com.

About Iberian Minerals Corp.

Iberian Minerals Corp. is a Canadian listed 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, and associated silver and gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia region of Spain approximately 110 km north-west of Seville and operates a 2.2 million tonnes per year underground mine and concentrator that produces 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", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital, operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. 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 ad 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. Many of these assumptions are based on factors and events that are not within the control of the Corporation 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 section entitled "Risk Factors" in the Corporation's annual information form dated March 29, 2010. Although the Corporation 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. The Corporation 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
    www.iberianminerals.com