Iberian Minerals to Issue Shares to Insersa

Iberian Minerals to Issue Shares to Insersa

Monday, August 24th 2009

Iberian Minerals Corp. announced today that in connection with the previously announced purchase of the underground mining division of Insersa at Aguas Tenidas, which closed on July 31, 2009, the Company will issue a total of 1,459,073 registered shares (the “Insersa Shares”) on or about September 4, 2009. Failure to issue renders the Company liable to return to Insersa Euros 480,000, being the amount of the subscription price received for the Insersa Shares.

As noted in the press release of July 22, 2009, the exact number of shares to be issued was subject to calculation. The Insersa Shares are being issued at price of $0.485 each, for total consideration of $707,650.56. Conditional approval of the TSXV for the issuance of the Insersa Shares has been received.

For Swiss corporate purposes, the issuance of the Insersa Shares is currently being completed with registration before the appropriate authorities expected shortly.

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