EDMONTON, ALBERTA--(Marketwired - Oct. 18, 2016) - Iberian Minerals Ltd. (the "Company" or "Iberian") (TSX
VENTURE:IML)(OTCQB:SLDRF) is updating the status on its announcement of May 26, 2016 regarding the Operational Agreement with
Vulture Peak Gold Inc. and its 100% wholly owned subsidiary, Mineworx USA Inc.
Following the execution of Iberian's Operational Agreement with Vulture Peak Gold Inc., the project's Prime Lender initiated
foreclosure proceedings. The foreclosure auction was held on September 29th in Phoenix, AZ with the Prime Lender
obtaining ownership of the Property.
Iberian has been in negotiations with the Prime Lender and its principles in an effort to secure a Conditional Sales Agreement
for the purchase of the property and assets. The Prime Lender is considering Iberian's Conditional Offer to Purchase and has
commissioned a detailed appraisal of the property and assets in an effort to determine fair market value and explore its options
with respect to the sale of the property.
Over the last 90 days Iberian has been continuing its testing, bulk sampling and conducting its due diligence on the
Property. Further updates will be given on the status of the transaction.
About Mineworx
Mineworx is an innovative heavy mineral development and processing company focused on increasing value within the
mining sector with its patent pending HM X-tract environmentally friendly, portable, heavy mineral extraction technologies.
Mineworx's unique business model is to seek out advanced stage mineral deposits on which to employ its portable processing
technologies and partner with the existing owners/operators by advancing these deposits in an accelerated manner attaining
profitable production in a timely, cost effective and environmentally friendly manner. The unique, integrated and portable
processes and technologies lower economic risk and reduce environmental impact.
About Iberian Minerals
Iberian Minerals is a Canadian junior mining company positioned for growth through the partnership of advanced cash
flow mining opportunities utilizing the Mineworx environmentally friendly toll processing technologies. In addition the Company
is undertaking strategic alliances with its Spanish minerals assets.
For further information, go to www.iberianminerals.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain statements which constitute forward-looking statements or information ("forward-looking
statements"), including statements regarding Iberian's business and the Acquisition. Such forward-looking statements are subject
to numerous risks and uncertainties, some of which are beyond Iberian's and Mineworx's control, including the impact of general
economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational
risks in exploration and development, competition from other industry participants, the lack of availability of qualified
personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources.
Although Iberian believes that the expectations in the forward-looking statements are reasonable, they are based on factors and
assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently
available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or
implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking
statements contained in this document are made as of the date of this document and, except as required by applicable law, Iberian
does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly
qualified by this cautionary statement.