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.
2
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”
3
4. Iberian Minerals - Key Goals
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.
4
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
5
6. Capital Structure TSXV: IZN
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
IZN three month chart
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 $2.60
2$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.
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7. Corporate Structure
Iberian Minerals Corp.
Switzerland
Domicile in Switzerland
100% 100% 100%
IZN Holdings Iberian Minerals Minas de Aguas
Corp. Holdings Cooperatief Tenidas S.A.U.
BVI U.A. Spain
Created a unique opportunity for
Netherlands the Iberian Group of companies to
100% optimize the structure of future
Iberian Minerals transactions
Holdings B.V.
Netherlands Approved at Iberian’s Annual &
100%
100% Special Meeting of Shareholders on
Iberian Minerals Urion Worldwide June 10, 2009
(Suisse) S.A. Investments Ltd
Switzerland Bahamas
98.7%
Compania Minera
Condestable S.A.
Peru
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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
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9. Condestable Mine, Peru
• The Condestable Mine consists of two mines–
Condestable and Raul.
Lima
• 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 Condestable
Mine
• Acquired in early 2008, IZN holds 98.7%
ownership
• Stable mining and processing costs
9
10. Plan view of Infrastructure
Raul Mine
Condestable
Mine Mill
Offices
Tailings Dam #4
Tailings Dam #1,
2 and 3
10
11. Condestable Mine – Reserves & Resources
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
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
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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
13
14. Condestable Mine - Production
• Cash operating cost (C3) for Q1
was US$ 1.05 per pound of
Production – First 3 Months 2009 copper produced
Production Unit January February March Q1 2009 • Recovery rate of 93%, and an
Concentrate DMT 8,676 7,213 8,450 24,339 average copper grade of
Contained copper t 2,123 1,854 2,137 6,114 approximately 1.23%
Fine gold oz 1,492 1,550 1,616 4,658
Fine silver oz 22,170 18,756 20,772 61,697
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15. 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
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17. 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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18. Aguas Tenidas Mine – Reserves & Resources
Cupriferous Polymetallic Tonnes
Reserve
TOTAL
Category Tonnes Cu % Zn % Pb % Ag g/t Au g/t NSR Tonnes Cu % Zn % Pb % Ag g/t Au g/t NSR
Mt Euro/t Mt Euro/t Mt
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
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
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
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21. 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
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22. Aguas Tenidas - Geology
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
22
23. 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
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24. Iberian – Capex 2009
Condestable Capex 2009/2010:
• US$4.7 million
• Acquisition of two six-yard scoops, one diamond drill, mill spares (main power
transformer and ball mill motor) and completion of the automated plant monitoring and
control system.
• Limited exploration program on Vinchos Este consisting of 1,500 meters of surface
diamond drilling
Aguas Tenidas Capex 2009/2010:
2009 2010
US$ (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
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27. 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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28. 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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29. 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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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.
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31. Photo Gallery
Condestable Plant & Concentrator Crushed ore at Condestable
Underground at Condestable Copper flotation at Condestable Ramp underground at Condestable
31
32. Photo Gallery
Underground at Aguas Tenidas Aguas Tenidas Underground at Aguas Tenidas
Underground at Aguas Tenidas View of the two stockpiles at Aguas Tenidas
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33. Photo Gallery
Aguas Tenidas Process Plant
Ball & SAG mills at Aguas Tenidas
Concentrates awaiting shipping Paste plant at Aguas Tenidas
at Aguas Tenidas
33
