Cehegín Development Plan

2017 will see Iberian Minerals expedite an exploration permit required to commence a work program to confirm the historic 25 – 30 million ton mineralization in accordance to a National Instrument 43-101 resource estimate, outlined by the previous 38,000 metres of drilling on the property.

During 2015 a 1,212-line-kilometre helicopter-borne magnetic survey was completed which provided excellent resolution of near-surface magnetic sources, representing a major improvement over prior regional aeromagnetic surveys. Most of the magnetic sources detailed on the aeromagnetic survey are judged to be quite shallow, representing near-surface mineralization.

2017 Validation Program

• Step 1 – Regional Reconnaissance
  • Reconnaissance exploration to identify unexplored anomalies
  • 15 – 18 RC drill holes totaling 2,200 meters
  • Depth: 120 to 150 meters

• Step 2 – Exploration of Deposits (Coloso, Soledad, Villamejor)
  • 2 RC drill holes on each side of the three deposits along strike, 100 meters per hole
  • Potential to increase existing 25 to 30 Mt estimated magnetite mineralization

• Step 3 – Validation of Deposits
  • 4 diamond drill holes per deposit to validate the historical drilling and recovery data
  • 100 metres per hole

The Company anticipates completion of the Validation Program by Q2 – 2017