August 2009

2

Forward Looking Statements

This presentation contains certain “forward-looking statements” and “forward-looking information” under applicable securities laws.

Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward-looking

statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, and

other similar words, or statements that certain events or conditions “may” or “will” occur. Forward looking information may include,

but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and

their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital,

operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the

realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government

regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title

disputes or claims, and limitations of insurance coverage. Forward-looking statements are based on the opinions and estimates of

management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and

uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking

statements. Many of these assumptions are based on factors and events that are not within the control of the Corporation and there is

no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such

forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled

“Risk Factors” in the Corporation’s annual information form dated April 30, 2009. Although the Corporation has attempted to identify

important factors that could cause actual actions, events or results to differ materially from those described in forward-looking

statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be

no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from

those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances

or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to

place undue reliance on forward-looking statements.

Unless otherwise stated, the information contained in this presentation is as of August 1, 2009.

3

Iberian Minerals – Key Messages

• Base metals producer – copper, lead, and zinc in concentrate with gold

and silver credits

• Project debt at Aguas Tenidas paid off

• Stable countries of operation (Peru and Spain)

• Goal for future growth through mergers and acquisitions, with plans to

be multi-mine

• Unique story for investors

“Growing Iberian Minerals as a

major iconic name in the base

metals industry”

Iberian Minerals - Key Goals

4

Continue to…

• maintain Condestable in steady state of production

• ramp-up Aguas Tenidas with a view to achieving commercial

production

• review and assess corporate and asset opportunities - base metals in

North/South America or Europe/Middle East/Africa region

• assess and structure hedging/financial transactions to attain best

overall group benefits

• leverage the Trafigura relationship

• focus on key values for social and environmental responsibilities

• focus on broad recognition, and the growth of Iberian as an iconic

name in the base metals industry

...and above all, to enhance value for all shareholders.

5

Corporate Summary

• Toronto Venture Exchange listed: IZN

• Headquartered in Toronto, with offices in Geneva, Seville and Lima

• Operations in Peru and Spain

• More than 1,750 employees and contract workers worldwide

Common Shares 336.6M

Warrants1 26.0M

Options 8.4M

Debenture2 20.0M

Fully Diluted 391.0M

52 week range $0.97 - $0.19

Month range (June) $0.35 - $0.50

Market Cap June 30 $163.3M

Average daily volume (3month) 911,147

Major Shareholder

Trafigura Beheer B.V 45.2%

1 8,382,126 warrants expire in August 2009 with exercise prices ranging from $2.20 to $2.602$25 million convertible debt held by Dundee Resources, bearing interest at 6% and convertible at $1.25. Dundee Resources (Dundee) holds a convertible subordinated Debenture maturing July 26, 2011 with an interest rate of 6% payable semi-annually. The outstanding principal amount of the Debenture will be convertible at Dundee’s option at any time, in whole or in part, into units of the Company at a conversion price of $1.25 per unit. Each unit will be comprised of one common share and one-half of warrant, with each warrant being exercisable into one common share at an exercise price of $2.00 for a period of two years after the date of the issue of the warrants.

6

Capital Structure TSXV: IZN

IZN three month chart

7

Corporate Structure

Domicile in Switzerland

Created a unique opportunity for

the Iberian Group of companies to

optimize the structure of future

transactions

Approved at Iberian’s Annual &

Special Meeting of Shareholders on

June 10, 2009

Iberian Minerals Corp.

Switzerland

IZN Holdings Corp.

BVI

Iberian Minerals Holdings Cooperatief

U.A.

Netherlands

Iberian Minerals

Holdings B.V.Netherlands

Iberian Minerals (Suisse) S.A.

Switzerland

Urion Worldwide Investments Ltd

Bahamas

Compania Minera Condestable S.A.

Peru

Minas de Aguas Tenidas S.A.U.

Spain

100%

100%

100%100%

100%100%

98.7%

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Condestable & Aguas Tenidas Mines

Condestable Mine, Peru

Producing copper concentrates that also

contain silver and gold

Aguas Tenidas Mine, Spain

Producing copper, zinc and bulk lead/copper

concentrates that also contain silver and gold

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Condestable Mine, Peru

• The Condestable Mine consists of two mines–

Condestable and Raul.

• Condestable is located 90km from Lima, Peru,

with excellent access to infrastructure

• Copper mineralization at Condestable occurs

in stratiform sulphide-rich replacement

bodies (mantos) and crosscutting sulphide

bearing quartz veins

• Acquired in early 2008, IZN holds 98.7%

ownership

• Stable mining and processing costs

Condestable

Mine

Lima

Plan view of Infrastructure

10

Condestable

Mine

Raul Mine

Mill

Offices

Tailings Dam #1,

2 and 3

Tailings Dam #4

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Condestable Mine – Reserves & Resources

Proven and Probable Reserves as at June 30, 2008

000’s tonnes % Cu

Proven 6,696 1.27

Probable 3,120 1.30

Total Proven & Probable 9,816 1.28

Stocks (Proven) 262 0.80

Total for Mining Plan 10,078 1.27

Extracted from SRK Consulting 43-101 Technical Report dated January 2009

Mineral Resources as at June 30, 2008

Classification 000's tonnes %Cu

Measured 5,246 1.76

Indicated 2,433 1.82

Total Measured & Indicated 7,679 1.77

Inferred 8,806 1.24

Transversal Section – Raul Orebody

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13

Condestable Mine – Overview

• Major capital projects completed in 2008

– New primary crusher

– Improved tailings thickener

– Lesser dependence on fresh water wells

• Optimized at 6000+ tonnes per day, Condestable has low direct costs due to minimal ground support and no required backfilling

• New 3 year collective labour agreement signed January 2009

• Condestable has historically replaced reserves each year with a comprehensive underground drilling program performed by company personnel

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Condestable Mine - Production

Production Unit January February March Q1 2009

Concentrate DMT 8,676 7,213 8,450 24,339

Contained copper t 2,123 1,854 2,137 6,114

Fine gold oz 1,492 1,550 1,616 4,658

Fine silver oz 22,170 18,756 20,772 61,697

Production – First 3 Months 2009

• Cash operating cost (C3) for Q1

was US$ 1.05 per pound of

copper produced

• Recovery rate of 93%, and an

average copper grade of

approximately 1.23%

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Aguas Tenidas Mine - Overview

• Located in the Andalucia province of Huelva in southwest Spain, Aguas Tenidas is 100% owned by MATSA, a wholly owned Spanish subsidiary of IZN

• Aguas Tenidas is 80km from Huelva, which contains a major port facility and smelter

• Historically a producing mine, Aguas Tenidas was re-discovered in the 1980’s

• The deposit is part of a roughly east-west striking chain of VMS deposits

• MATSA currently has 420 company employees and approximately 140 contract workers on site

Aguas Tenidas – June 2008

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Aguas Tenidas Mine – Recent Updates

• IZN received a 5 year underground mining/operating permit (including blasting) for the recovery of production ore

• IZN received the permanent process plant permit covering the life of mine

• IZN received approval for a grant from the Andalucia region totaling €10,092,472

• Production began at the mine on December 22, 2008 with the start-up of the copper circuit. Ramp-up of the mill continues with necessary adjustments

• Both the copper and polymetallic circuit are operational

• Metallurgic recoveries for copper meets or exceeds expectations

• Polymetallic circuit converted to copper/lead bulk and zinc concentrate

• Further optimization of the polymetallic circuit planned

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Aguas Tenidas Mine – Reserves & Resources

Resource Category Tonnes Cu (%) Zn (%) Pb (%) Ag (g/t) Au (g/t)Cupriferous Type

Measured 6.51 2.30 1.10 0.20 27.70 0.40

Indicated 2.92 2.70 0.50 0.20 29.50 0.50

Total M & I 9.43 2.40 0.90 0.20 28.30 0.40

Inferred 1.55 3.10 0.70 0.10 23.60 0.40

Polymetallic Type

Measured 4.54 0.70 7.80 2.20 67.10 1.00

Indicated 5.58 1.30 8.60 2.70 86.50 0.90

Total M & I 10.12 1.10 8.20 2.50 77.80 0.90

Inferred 0.87 1.20 10.30 2.60 111.20 0.90

Reserve Category

Cupriferous Polymetallic Tonnes TOTAL

MtTonnes

MtCu % Zn % Pb % Ag g/t Au g/t

NSR Euro/t

Tonnes Mt

Cu % Zn % Pb % Ag g/t Au g/tNSR

Euro/t

Proven 6.11 2.02 1.41 0.28 28.20 0.42 40.10 4.79 0.80 6.21 1.78 60.00 0.86 60.40 10.90

Probable 2.24 2.64 0.77 0.23 29.90 0.46 47.40 5.88 1.23 6.96 2.16 73.70 0.76 71.90 8.11

TOTAL 8.35 2.19 1.24 0.27 28.60 0.43 42.10 10.66 1.03 6.62 1.99 67.50 0.81 66.70 19.01

Extracted from 43-101 Technical Report on the Mineral Resources and Reserves of the Aguas Tenidas Mine Project – Spain,

Prepared for Iberian Minerals Corp. by Adam Wheeler, 25 August 2008

Aguas Tenidas Reserves – Plan View

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Aguas Tenidas – Longitudinal Section

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Aguas Tenidas Mine – Copper Stockworks

• Recent Stockworks results are

encouraging

• Further work on delineation

continues

• Current Stockworks resources as

of August 2008 shown below

• Mine plan adjusted to include

Stockworks

Resource Tonnes Cu Zn Pb Ag Au

Class kT % % % g/t g/t

Measured 147 3.13 0.31 0.07 8.6 0.04

Indicated 1,220 2.25 0.24 0.06 7.3 0.06

Measured & Indicated 1,366 2.35 0.25 0.06 7.1 0.06

Inferred 248 1.96 0.15 0.05 5.6 0.04

Extracted from 43-101 Technical Report on the Mineral Resources and Reserves of the Aguas Tenidas

Mine Project – Spain, Prepared for Iberian Minerals Corp. by Adam Wheeler, 25 August 2008

Aguas Tenidas - Geology

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18.2m @ 2.30% Cu

26.1m @ 5.00% Cu

67.0m @ 3.00% Cu

84.00m @ 2.2%CuIn 9.00m@4.8%Cu

In 12.00m@5.00 Cu

8.30m @ 1.2% Cu

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IZN - Finances

2008

• Net income of $ 47.8 million for fiscal 2008, representing $0.19 per share

• Completed through CMC a US$ 70 million loan facility which was used to fund construction

at Aguas Tenidas

• In Q4 2008, the Company closed out MATSA hedges. This resulted in a net realized gain of

approximately US$ 225 million. This gain was used to repay the MATSA project finance

facility amounting to approximately US$ 159.87 million

• Acquired a further 6.7% interest in CMC on November 5, 2008

Key Points

• Solid balance sheet with no project debt

• Flexibility in dealing, with no bank covenants/restrictions

• Financing (bought deal) completed in May 2009 for proceeds of C$40 million

Iberian – Capex 2009

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Condestable Capex 2009/2010:

• US$4.7 million

• Acquisition of two six-yard scoops, one diamond drill, mill spares (main power

transformer and ball mill motor) and completion of the automated plant monitoring and

control system.

• Limited exploration program on Vinchos Este consisting of 1,500 meters of surface

diamond drilling

2009 2010

US$ (millions) US$ (millions)

Mine Infrastructure and Equipment 21.6 7.0

Process Plant 35.8 0.4

Electrical Installations (Surface) 0.8 -

Building License 1.1 1.2

Tailings Deposit (Phase II - 2010) 1.0 5.0

Paste Plant 2.8 -

Modifications for Bulk Flotation 1.0 -

Diamond Drilling 1.9 -

TOTAL 66.0 13.6

Aguas Tenidas Capex 2009/2010:

Capex – Aguas Tenidas

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Iberian - Hedging

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Condestable

CopperFMT Fixed price

(Fine metric tons) US$/FMT

2009 19,825 4,419

2010 20,475 4,420

2011 20,625 3,492

GoldFoz Fixed price

(Fine ounces) US$/Foz

2009 2,400 741.5

2010 2,400 741.5

2011 2,400 741.5

SilverFoz Fixed price

(Fine ounces) US$/Foz

January 2009 65,000 13.89

Aguas Tenidas

CopperFMT Fixed price

(Fine metric tons) US$/FMT

2009 6,775 3,854

2010 7,900 3,820

Copper call options soldFMT Fixed price

(Fine metric tons) US$/FMT

2010 6,100 4,200

ZincFMT Fixed price

(Fine metric tons) US$/FMT

2009 5,750 1,340

2010 6,600 1,330

Zinc call options soldFMT Fixed price

(Fine metric tons) US$/FMT

2010 4,900 1,500

Trafigura – Available Support

• Leverage – project and debt funding

• Expertise in hedging commodities and currencies

• Off-take agreements – single customer at benchmark/spot

• Board expertise – Jeremy Weir and Jesus Fernandez, with

invaluable global insight (2 of 7 board members)

• Traditionally supportive in financing requirements

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Future Plans - Criteria

• Potential acquisition targets in the base metals space

• Focus on copper, zinc, lead

• Potential interest in nickel

• Mid size with ideally a minimum of 25kt annual production of copper equivalent

units

• Assets preferably in in North/South America or Europe/Middle East/Africa region

• Producing (preferable) or (second choice) near production stage with at least a

completed bankable feasibility study

• Corporate merger or asset acquisition

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Board of Directors

Norman Brewster P.Geo, Chairman of the Board, Director – Norman is a geologist who joined IZN in 2002. He also sits on the board of Cadillac Ventures Inc.

Philippe Blavier, Director – Philippe is Chairman of the Company’s Audit Committee and a member of the Remuneration Committee of the Company. He has extensive experience at BNP Paribas, where he was Head of Corporate & Investment Banking and Member of the Executive Committee.

Jesus Fernandez, Director – Jesus has been part of the Trafigura team since 2004 as Manager of the Corporate Finance team, with an emphasis on mining and downstream oil project investments. He joined IZN’s board in 2008.

L. Jack Gunter, P.Eng, FIMM, Director – Jack has over 45 years experience in the mining industry. He has worked previously with Rio Tinto and Phelps Dodge, and also sits on the board of Galantas Gold Corp.

Murray John, Director – Murray is an engineer with more than 25 years experience in the resource industry. He is currently the President & CEO of Dundee Resources.

Jeremy Weir, Director – Jeremy works as Executive Director and Manager at Trafigura, where he has also been head of the metals derivatives trading structured products and risk management departments.

Daniel Vanin, Director – Daniel is the President and CEO of Iberian.

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Management

Daniel Vanin – P.Eng, President & CEO – Daniel has worked in the mining industry for over 30 years and

has strong international mine development and management skills with extensive experience

in Canada, South America, Africa and Russia. He is a professional mining engineer and

graduated from McGill University, Montreal, in 1975. Most recently, Daniel was Executive VP &

Chief Operating Officer at High River Gold. Prior to that, he was Chief Executive Officer of RBG

Resources Plc, in Bolivia, where he managed all operations, project development and

construction at the Vinto smelter and Huanuni tin mine.

David Poynton, Senior Vice-President, General Counsel and Corporate Secretary - David is a lawyer with

more than 20 years experience in private practice with public companies, private

entrepreneurs and the non-profit sector, with a particular emphasis on, and understanding of

the mining industry. David acted as primary counsel to many TSX and TSX-V issuers before

joining Iberian in January 2009.

Jeff Hillis, CFO - Mr. Hillis joined Iberian in June 2009. He has worked in the mining industry for over 5

years in progressively more senior finance and reporting positions. He most recently served as

CFO of a TSX listed mining company based in Toronto. Jeffrey is a Chartered Accountant

(Ontario, 2001). He worked for three years in the audit group of Ernst & Young with major

clients in the mining industry.

Photo Gallery

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Condestable Plant & Concentrator

Underground at Condestable Ramp underground at CondestableCopper flotation at Condestable

Crushed ore at Condestable

Photo Gallery

32

Underground at Aguas Tenidas Underground at Aguas Tenidas

Underground at Aguas Tenidas View of the two stockpiles at Aguas Tenidas

Aguas Tenidas

Photo Gallery

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Ball & SAG mills at Aguas Tenidas

Aguas Tenidas Process Plant

Concentrates awaiting shipping

at Aguas TenidasPaste plant at Aguas Tenidas