Trafigura Beheer B.V. Launches Take-Over Bid for Iberian Minerals Corp.

GENEVA, SWITZERLAND--(Marketwire - Dec. 21, 2011) - Trafigura Beheer B.V. ("Trafigura") announced today that its indirect, wholly-owned subsidiary, Urion Mining International B.V. ("Urion"), has officially made an offer (the "Offer") to purchase all of the issued and outstanding registered shares ("Registered Shares") in the capital of Iberian Minerals Corp. ("Iberian") which it does not already own at a price of C$1.10 per Registered Share, in cash.

The Offer is open for acceptance until 8:00 p.m. (Toronto time) on January 23, 2012, unless withdrawn or extended. The Offer is subject to certain conditions, including that there shall have been validly deposited under the Offer and not withdrawn that number of Registered Shares which constitutes at least 66 2/3% of the outstanding Registered Shares not currently owned by Trafigura (calculated on a diluted basis) and that the lock-up agreement dated November 16, 2011 among Trafigura, certain investors in Iberian, all of the directors of Iberian and certain senior officers of Iberian shall have been complied with and not terminated.

The take-over bid circular of Urion, the directors' circular of Iberian and certain related materials (collectively, the "Offer Documents") were mailed to registered holders of Registered Shares and to registered holders of Iberian options and warrants on December 16, 2011. The Offer Documents are available for review on SEDAR under Iberian's issuer profile at www.sedar.com.

THIS NEWS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SECURITIES. THE SOLICITATION AND THE OFFER TO BUY REGISTERED SHARES OF IBERIAN IS MADE ONLY PURSUANT TO THE OFFER DOCUMENTS. IBERIAN SHAREHOLDERS AND OTHER INVESTORS SHOULD READ THE OFFER DOCUMENTS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER.