August 2009

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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.

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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

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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.

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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 336.6MWarrants1 26.0MOptions 8.4MDebenture2 20.0MFully Diluted 391.0M

52 week range $0.97 - $0.19Month range (June) $0.35 - $0.50Market Cap June 30 $163.3MAverage 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.

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Capital Structure TSXV: IZN

IZN three month chart

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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.

NetherlandsIberian Minerals Holdings

B.V.Netherlands

Iberian Minerals (Suisse) S.A.Switzerland

Urion Worldwide

Investments LtdBahamas

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

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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 1.27Probable 3,120 1.30Total Proven & Probable 9,816 1.28Stocks (Proven) 262 0.80Total 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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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 – First 6 Months 2009

• Cash Operating costs (C1 and C3) for Q2 were US$ 0.49 and US$1.11 per pound of copper produced

• Q2 Recovery rate of 91%, and an average head grade of approximately 1.23% copper

Production Unit April May June Q2 2009

Year to Date 2009

Concentrate DMT 7,509 8,596 8,204 24,309 48,649Contained copper t 1,818 2,092 2,063 5,973 12,087Fine gold oz 1,315 1,507 1,592 4,414 9,072Fine silver oz 17,692 20,667 21,143 59,502 121,199

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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 0.40Indicated 2.92 2.70 0.50 0.20 29.50 0.50Total 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 PolymetallicTonnes TOTAL

MtTonnes

Mt Cu % Zn % Pb % Ag g/t Au g/t NSR Euro/t

Tonnes Mt Cu % Zn % Pb % Ag g/t Au g/t NSR

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 2010US$ (millions) US$ (millions)

Mine Infrastructure and Equipment 21.6 7.0Process Plant 35.8 0.4Electrical Installations (Surface) 0.8 -Building License 1.1 1.2Tailings Deposit (Phase II - 2010) 1.0 5.0Paste 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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The cornerstone of Iberian's Hedging Policy is the protection of the Company's assets.  Hedging activity and monitoring is overseen by the Company's Hedging Committee.

As of July 31, 2009, copper production at the Condestable Mine has been hedged as to approximately 89% of production until the end of 2011. The average price for 2009 and 2010 is US$4,424 per tonne and the price for 2011 is US$3,494 per tonne of copper. Gold production (2,400 oz per year) has been hedged at US$741.50 per oz for 2009-2011, while silver production for the balance of 2009 (18,900 oz) has been hedged at US$13.35 per oz. Hedging at Condestable is required pursuant to the Company’s banking arrangements.

The hedging program for Aguas Tenidas Mine is continually reviewed, and as of July 31, 2009 is as follows:

• 5,000 tonnes of copper forward at US$4,989 per tonne for 2009• 15,100 tonnes of copper forward at average price of US$3,839 per tonne for 2010• 6,100 tonnes copper calls at a strike price of US$4,200 per tonne maturing in 2010/11• 5,000 tonnes of zinc forward at US$1,611 per tonne maturing in 2009• 12,350 tonnes of zinc forward at an average price of US$1,333 per tonne maturing in 2010• 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.

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

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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 shippingat Aguas Tenidas

Paste plant at Aguas Tenidas