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Message: Issues Common Shares in Satisfaction of Interest Payment
| February 3, 2009 |
| Iberian Minerals Corp.-Issues Common Shares in Satisfaction of Interest Payment |
| TORONTO, ONTARIO--(Marketwire - Feb. 3, 2009) - Iberian Minerals Corp. ("Iberian") (TSX VENTURE:IZN) announces that pursuant to the convertible subordinated debenture, as amended (the "Debenture") in the amount of $25,000,000 originally issued to Dundee Resources Limited ("Dundee") on July 26, 2006, Iberian has issued an aggregate of 2,356,557 common shares (the "Common Shares") in satisfaction of the January 26, 2009 interest payment of $754,098.36. The Common Shares are subject to a four-month and one day hold period under securities laws and are not freely tradable until the hold period expires on June 4, 2009. The number of common shares to be issued was calculated by dividing the interest payable to Dundee by the closing price of Iberian's common shares on the TSX Venture Exchange on January 25, 2009. The Debenture bears interest at a rate of 6% per annum, payable semi-annually on January 26th and July 26th in each year. About Iberian Minerals Corp. Iberian Minerals Corp. is a Canadian-based global copper and zinc 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 a copper-zinc project in the Andalucia region of Spain approximately 110 km north-west of Seville. Commissioning is underway on a 1.7 million tonnes per year underground mine and concentrator (1.5 million tonnes during ramp up) that will produce copper and zinc concentrates that also contain gold, silver and lead. |
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