Iberian Minerals Corp.-Update on Aguas Tenidas Stockwork Drilling Program

Iberian Minerals Corp. Iberian Minerals Corp. announces assay results from an additional underground and surface drilling as part of its 2008 copper stockworks drilling program on the Agua Tenidas mining project.

The stockwork program from the existing underground infrastructure is focused at the East end of the deposit between sections 690.790E and 690.960E. It will be extended to the East to section 691.200E where previous exploration from old surface and production drilling has indicated the presence of high grade copper stockwork mineralization.

The assay results shown in Table 1, detail the copper and other metals content of the drill sections received since the beginning of the drilling campaign.

The stockwork mineralization underlies the massive sulphide zone and was known in the past but was never systematically explored and has not been included in the Agua Tenidas resources. The stockwork occur along the extension of the deposit however the copper grade varies with the high grade zones occurring in the Eastern part of the deposit. This zone is being evaluated to determine its resource potential. There is also potential for mineralized zones to exist in the Western portion of the deposit that is planned to be drilled in the future.

The stockwork mineralization contains Chalcopyrite and Pyrite with a coarser grain than massive sulphide zones and has a lesser sulphur content. It occurs in the remnants of the fracture systems that was used by the hydrothermal solutions that formed the massive sulphides at the sea floor.

The surface program results from the hole AM-8 shows the down-dip continuity of the old Aguas Tenidas mine that produced 0.5 MT at 4% Cu and the continuity of the Aguas Tenidas horizon at 2.8 Km from the Eastern part of the deposit.

A drilling cross section of the Stockwork and a summary table of the entire drill program detailing the assay results from these drill holes, along with results from the drill holes previously reported (Press Releases dated April 29th 2008 and November 22nd , October 16th, and July 25th 2007) are available on the Company’s website www.iberianminerals.com or by clicking here

The drill core from this program was examined and logged, and samples selected, by Jose Malave B.Sc, Eur.Geol, chief geologist for the Aguas Tenidas project.

The selected samples were split, bagged and tagged under the supervision of the qualified person, and sent by bonded air courier to Omac Laboratories (Ireland) for analysis by 19 element Agua-Regia ICP-ORE assay and fire assay for gold.

Iberian Minerals Corp. is a Canadian-based global copper and zinc company with developing and producing interests in Spain, the Aguas Tenidas Project and Peru, the Condestable Mine. Iberian Minerals Corp. is well-funded with a strong, experienced management team and a significant partner in its largest shareholder, Trafigura Beheer B.V.