1. August 2009

2. 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 15, 2009.

4. Project debt at Aguas Tenidas paid off

5. Stable countries of operation (Peru and Spain)

6. Goal for future growth through mergers and acquisitions, with plans to be multi-mine

7. Unique story for investors“Growing Iberian Minerals as a major iconic name in the base metals industry”

9. ramp-up Aguas Tenidas with a view to achieving commercial production

10. review and assess corporate and asset opportunities - base metals in North/South America or Europe/Middle East/Africa region

11. assess and structure hedging/financial transactions to attain best overall group benefits

12. leverage the Trafigura relationship

13. focus on key values for social and environmental responsibilities

14. 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.

16. Headquartered in Toronto, with offices in Geneva, Seville and Lima

17. Operations in Peru and Spain

19. 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 100% 100% 100% 100% 100% 100% 98.7%

20. 8 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

22. Condestable is located 90km from Lima, Peru, with excellent access to infrastructure

23. Copper mineralization at Condestable occurs in stratiform sulphide-rich replacement bodies (mantos) and crosscutting sulphide bearing quartz veins

24. Acquired in early 2008, IZN holds 98.7% ownership

25. Stable mining and processing costsLima Condestable Mine

26. Plan view of Infrastructure 10 Raul Mine Condestable Mine Mill Offices Tailings Dam #4 Tailings Dam #1, 2 and 3

27. 11 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

28. Transversal Section – Raul Orebody 12

30. New primary crusher

31. Improved tailings thickener

32. Lesser dependence on fresh water wells

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

34. New 3 year collective labour agreement signed January 2009

36. Q2 Recovery rate of 91%, and an average head grade of approximately 1.23% copperProduction – First 6 Months 2009

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

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

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

43. IZN received the permanent process plant permit covering the life of mine

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

45. 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

46. Both the copper and polymetallic circuit are operational

47. Metallurgic recoveries for copper meets or exceeds expectations

48. Polymetallic circuit converted to copper/lead bulk and zinc concentrate

50. Aguas Tenidas Reserves – Plan View 19

51. Aguas Tenidas – Longitudinal Section 20

53. Further work on delineation continues

54. Current Stockworks resources as of August 2008 shown below

55. Mine plan adjusted to include StockworksExtracted from 43-101 Technical Report on the Mineral Resources and Reserves of the AguasTenidas Mine Project – Spain, Prepared for Iberian Minerals Corp. by Adam Wheeler, 25 August 2008

56. Aguas Tenidas - Geology 22 18.2m @ 2.30% Cu 84.00m @ 2.2%Cu In 9.00m@4.8%Cu In 12.00m@5.00 Cu 26.1m @ 5.00% Cu 67.0m @ 3.00% Cu 8.30m @ 1.2% Cu

58. Completed through CMC a US$ 70 million loan facility which was used to fund construction at Aguas Tenidas

59. 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

61. Flexibility in dealing, with no bank covenants/restrictions

63. 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.

64. Limited exploration program on Vinchos Este consisting of 1,500 meters of surface diamond drillingAguas Tenidas Capex 2009/2010:

65. Capex – Aguas Tenidas 25

67. 15,100 tonnes of copper forward at average price of US$3,839 per tonne for 2010

68. 6,100 tonnes copper calls at a strike price of US$4,200 per tonne maturing in 2010/11

69. 5,000 tonnes of zinc forward at US$1,611 per tonne maturing in 2009

70. 12,350 tonnes of zinc forward at an average price of US$1,333 per tonne maturing in 2010

71. 4,900 tonnes zinc calls at with a strike price of US$1,500 per tonne maturing in 2010.The Hedging Committee continually reviews the markets in which the Company trades, and depending on circumstances, decides if any additional or altered hedging is appropriate to enhance the future cash flow of the Company’s operations, and protection of the Company’s assets.

73. Expertise in hedging commodities and currencies

74. Off-take agreements – single customer at benchmark/spot

75. Board expertise – Jeremy Weir and Jesus Fernandez, with invaluable global insight (2 of 7 board members)

76. Traditionally supportive in financing requirements27

78. Focus on copper, zinc, lead

79. Potential interest in nickel

80. Mid size with ideally a minimum of 25kt annual production of copper equivalent units

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

82. Producing (preferable) or (second choice) near production stage with at least a completed bankable feasibility study

84. 30 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.

85. Photo Gallery 31 Crushed ore at Condestable Condestable Plant & Concentrator Ramp underground at Condestable Underground at Condestable Copper flotation at Condestable

86. Photo Gallery 32 Underground at Aguas Tenidas Underground at Aguas Tenidas Aguas Tenidas Underground at Aguas Tenidas View of the two stockpiles at Aguas Tenidas

87. Photo Gallery 33 Aguas Tenidas Process Plant Ball & SAG mills at Aguas Tenidas Concentrates awaiting shipping at Aguas Tenidas Paste plant at Aguas Tenidas