LONDON--(Marketwire - Feb 10, 2012) -

Cheyne Capital Management (UK) LLP ("Cheyne") announces that it has,
through discretionary funds it manages, acquired control of an
additional 3,400,000 common shares of Iberian Minerals Corp ("Iberian")
representing approximately 0.68% of the outstanding common shares of
Iberian, as per Bloomberg.

The total number of common shares of Iberian held by Cheyne funds is
now 25,644,700; representing approximately 5.16% of the issued and
outstanding common shares. Cheyne has acquired 22,244,700 common shares
in Iberian since November 17th, 2011.

Cheyne acquired the common shares in the open market through the
facilities of the Pure Exchange. Cheyne acquired the common shares for
the sole benefit of discretionary funds under management. Cheyne may,
depending on market and other conditions, acquire or sell further
common shares from time to time for such investment purposes on behalf
of the funds.

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