RWE Australian Business News
RWE Company Announcements
February 15, 2007 Thursday 12:04 PM AEST

IBR – Iberian purchases key plant for Armenian mine 1/1

Sydney Thursday, February 15

Iberian Resources (ASX:IBR) has purchased a key component for the
Stage Two expansion strategy in Armenia.

A Gekko Model 10,000 Intense Leach Reactor and In Line Pressure
Jigs have been purchased from Celtic Resources.

The unit is new and was previously intended to be transported to
Celtic Resources’ Nezhdaninskoye mine in Russia.

The plant is currently containerised in Australia and is awaiting
immediate shipment to Armenia.

The Intense Leach Reactor (ILR) and In Line Pressure jigs will
allow the company to not only increase throughput but will also
significantly increase gold and silver recoveries.

The availability of this equipment allows for uninterrupted
transition from land acquisition activities into construction.

The ILR will complement the CIL facility, the construction of
which will commence shortly after the ILR comes on line.

Implementation of the Stage Two expansion project is
progressing well with site selection permitting and land access
expected to be completed in the second quarter of 2007.

Iberian shares were up 5c to 68c.