Iberian Minerals Corp.: Update on Aguas Tenidas Stockworks Drilling-67 Metres of

Iberian is pleased to announce assay results from an additionalfour drill holes as part of its 2007 copper stockworks drillingprogram. These drill holes, along with the drill holes previouslyreported (Press Releases dated July 25th and October 16th2007) in this exploration program have delineated a zoneof copper stockwork mineralization 200m long and between10 and 50 m in thickness, that underlies the Aguas Tenidasmineralization. The Company is continuing its explorationprogram in order to determine the extents and true widthsof the stockwork mineralization.

 Section 690880E                                                   Ag    AuHole #     From     To Length Cu(%)  Pb(%) Zn(%) (g/t) (g/t)     CommentATSW-11   14.7m  46.5m  31.7m 0.29   2.98  8.15  65.9   0.9 Polymetallic          58.2m  97.8m  39.6m 1.64   0.13  0.65  11.4   0.1    Copper MSATSW-12   28.4m  55.7m  27.3m 0.84   3.43  9.52 105.3   1.8 Polymetallic         101.8m 143.5m  41.7m 2.32      -  0.01   0.9     -    StockworkIncl.    131.5m 143.5m  12.0m 3.24      -  0.02     -     -    StockworkSection 690860E                                                   Ag    AuHole #     From     To Length Cu(%)  Pb(%) Zn(%) (g/t) (g/t)     CommentATSW-13    1.3m  21.0m  19.7m 0.24   3.82 11.65  77.7   0.7 Polymetallic          51.0m 118.0m  67.0m 3.24   0.03  0.04   6.3   0.1    StockworkIncl.     58.1m  84.2m  26.1m 5.04   0.03  0.07   9.5   0.1    StockworkATSW-14    0.0m  15.9m  15.9m 0.18   3.60  9.94  62.5   0.5 Polymetallic          22.1m  78.3m  56.2m 1.32   0.25  1.21  19.0   0.3    Copper MS          58.1m  76.3m  18.2m 2.34   0.26  0.68  20.0   0.3    Copper MS

Note 1: The dips on the above holes were as follows: ATSW-11-32 degrees S, ATSW-12 -70 degrees S, ATSW-13 -70 degreesS and ATSW-14 -45 degrees S.

Note 2: The approximate distances to the top of the copperstockwork mineralisation below the Aguas Tenidas polymetallicmassive sulphide mineralisation are as follows: ATSW-1125m, ATSW-12 75m, ATSW-13 31m and ATSW-14 69m.

Note 3: The drill intercepts reported above are linear measurementsof the drill core, the true widths have not yet been determined.

The results of the current drill program are now being re-assessedto determine the value of increasing the resources directedtowards exploring and evaluating the copper stockworks atAguas Tenidas.

The Company's geologists and management have determinedthat:

1. The limited amount of drilling completed so far, indicatesthat the copper grades in the stockwork (high angle holes)appears to increase towards the E-W trending Northern Fault,that marks the northern boundary of the 2,500 metre longAguas Tenidas massive sulphide deposit.

2. The known stockwork zones have: i) an irregular crescentshape, ii) a minimum strike length of 200 metres, and iii)a vertical component of at least 150 metres. True widthsvary from 20-50 metres, depending on the distance from theNorthern Fault.

3. It is has not yet been determined if the stockworks arecontinuous beneath the entire length of the Aguas Tenidasdeposit.

4. The copper mineralisation (chalcopyrite) is coarse andprimarily found in partially silicified near vertical veinsor vein swarms within the stockworks. Gold and silver valuesare generally lower than other sections of the Aguas Tenidasdeposit.

A summary of the stockworks' investigation drilling programundertaken to date, including results released today andpreviously on July 25th and October 16th, are:

 ------------------------------------------------------------------------------------------------------------------------------------------------------2007 Copper Stockwork Drilling Program (From East to West)                                       Ag       AuHole #    From     To Length Cu(%)   (g/t)    (g/t)           Dip   Section---------------------------------------------------------------------------ATSW-2   71.3m  91.3m  20.0m 0.89     7.7        -   14 degrees S   690960EATSW-3   51.5m  82.0m  30.5m 0.88    11.7      0.1   33 degrees S   690960EIncl.    51.5m  68.5m  17.0m 1.19    19.8      0.1   33 degrees S   690960EATSW-4   59.7m 137.8m  78.1m 1.15     5.7      0.1 46 degrees S E   690960EIncl.   101.8m 117.8m  16.0m 1.61     2.3      0.1 46 degrees S E   690960E------------------------------------------------------------------------------------------------------------------------------------------------------ATSW-5   84.5m 102.6m  18.1m 1.35     3.4      0.1   24 degrees S   690940E------------------------------------------------------------------------------------------------------------------------------------------------------ATSW-6   85.5m  93.5m   8.0m 2.11    12.8      1.2   14 degrees S   690920EATSW-7   71.5m 125.5m  54.0m 2.03     4.4      0.1   50 degrees S   690920EIncl.    79.5m 101.5m  22.0m 3.26     7.5      0.1   50 degrees S   690920E---------------------------------------------------------------------------ATSW-8   70.7m 108.7m  38.0m 1.82     7.5      0.1   43 degrees S   690900EIncl.    76.6m 100.6m  24.0m 2.17     8.7      0.1   43 degrees S   690900EATSW-9   81.0m  81.7m   6.0m 2.40    12.0      0.3   21 degrees S   690900EATSW-10  62.6m 162.0m  99.4m 1.99     4.5        -   70 degrees S   690900EIncl.   132.0m 154.0m  22.0m 3.65     1.9        -   70 degrees S   690900E------------------------------------------------------------------------------------------------------------------------------------------------------ATSW-11  58.2m  97.8m  39.6m 1.64 Massive Sulphide   32 degrees S   690880EIncl.    80.2m  96.1m  15.9m 2.13 Massive Sulphide   32 degrees S   690880EATSW-12 101.8m 143.5m  41.7m 2.32     0.9        -   70 degrees S   690880EIncl.   131.5m 143.5m  12.0m 3.24       -        -   70 degrees S   690880E------------------------------------------------------------------------------------------------------------------------------------------------------ATSW-13  51.0m 118.0m  67.0m 3.24     6.3      0.1   70 degrees S   690860EIncl.    58.1m  84.2m  26.1m 5.04     9.5      0.1   70 degrees S   690860EATSW-14  22.1m  78.3m  56.2m 1.32 Massive Sulphide   45 degrees S   690860EIncl.    58.1m  78.3m  18.2m 2.34 Massive Sulphide   45 degrees S   690860E------------------------------------------------------------------------------------------------------------------------------------------------------

Note1: The drill intercepts reported above are linear measurementsof the drill core, the true widths have not yet been determined

The drill core from this program was examined, logged, andsamples selected, by Jose Malave B.Sc, P.Geol, chief geologistfor the Aguas Tenidas project. The selected samples weresplit, bagged and tagged under the supervision of the qualifiedperson, and sent by bonded air courier to Omac Laboratories(Ireland) for analysis by 19 element Agua-Regia ICP-OREassay and fire assay for gold. QA/QC procedures were designedunder the guidance of Mike O'Neill B.Sc, P.Geo, EurGeol(Independent qualified person), which included the submissionof systematic duplicates, blanks and both low and high gradestandard samples within the batches submitted to Omac Laboratories.In conjunction with this, 10% of all samples were submittedto ALS Chemex in Vancouver for external laboratory checkassays.

Mr. Michael Newbury, who is a director of the Company andis a "qualified person" as such term is defined under NationalInstrument 43-101, has reviewed and verified the technicalinformation contained in this press release and has approvedthe contents of this press release.

About Iberian Minerals Corp.

Iberian Minerals Corp., through its wholly owned subsidiaryMATSA, is currently proceeding with the re-opening of theAguas Tenidas copper/zinc project located in the Regionof Andalucia, SW Spain. In January 2006, a feasibility reporton the project was prepared by SRK Consulting of CardiffUK, which demonstrated the technical feasibility and economicviability of the project (press release January 20, 2006).Elements of this feasibility report have been updated byAdam Wheeler and RSG Consulting Pty Ltd. (press releaseof May 22, 2007), which is available at .In addition to the proposed purchase of approximately 92%of the issued and outstanding shares of Compania MineraCondestable ("CMC") from Tafigura Beheer B.V. Amsterdam("Trafigura") the Company has also signed a life of mineofftake agreement with Trafigura for the sale of all itsmetal concentrates from Aguas Tenidas.

In addition to the Aguas Tenidas project the Company, throughMATSA, holds an extensive land position of exploration propertieswithin the Iberian Pyrite Belt.

FORWARD LOOKING STATEMENTS:

This news release contains certain "forward-looking statements"and "forward-looking information" under applicable securitieslaws. Except for statements of historical fact, certaininformation contained herein constitutes forward-lookingstatements. Forward-looking statements are frequently characterizedby words such as "plan", "except", "project", "intend","believe", "anticipate", "estimate", and other similar words,or statements that certain events or conditions "may" or"will" occur. Forward-looking statements are based on theopinions and estimates of management at the date the statementsare made, and are based on a number of assumptions and subjectto a variety of risks and uncertainties and other factorsthat could cause actual events or results to differ materiallyfrom those projected in the forward-looking statements.Assumptions upon which such forward-looking statements arebased included that transactions will be completed, thatall required third party regulatory and governmental approvalswill be obtained. Many of these assumptions are based onfactors and events that are not within the control of Iberianand there is no assurance they will prove to be correct.Factors that could cause actual results to vary materiallyfrom results anticipated by such forward-looking statementsinclude changes in market conditions and other risk factorsdiscussed or referred to in the annual Management's Discussionand Analysis for Iberian filed with the applicable securitiesregulatory authorities and available at .Although Iberian has attempted to identify important factorsthat could cause actual actions, events or results to differmaterially from those described in forward-looking statements,there may be other factors that cause actions, events orresults not to be anticipated, estimated or intended. Therecan be no assurance that forward-looking statements willprove to be accurate, as actual results and future eventscould differ materially from those anticipated in such statements.Iberian undertakes no obligation to update forward-lookingstatements if circumstances or management's estimates oropinions should change except as required by applicablesecurities laws. The reader is cautioned not to place unduereliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibilityfor the adequacy or accuracy of this release.