Final permit puts world-class tungsten/fluorspar deposit on track for
    production in early 2008

    TORONTO, June 30 /PRNewswire-FirstCall/ - Tiberon Minerals Ltd. (TBR:TSX)
and its minority joint venture partners have been granted a Mining License by
the government of Vietnam to develop and mine the Nui Phao tungsten/fluorspar
deposit. Witnessed by His Excellency Phan Van Khai, Prime Minister of Vietnam,
the Mining License was officially granted to Mario Caron, Tiberon's President
and CEO, during ceremonies at the Vietnam-Canada Business Forum in Toronto
yesterday.
    The Mining License, extending over 0.9 square kilometres, covers the
known proven and probable reserves and is valid for a 30-year period. The
Mining License replaces Tiberon's Exploration License and is the last major
permit needed prior to the start of construction.
    "We are delighted to have been granted the Nui Phao Mining License in
such a timely manner following approval of our Environmental Impact Assessment
in March," said Tiberon's CEO Mario Caron. "Tiberon and its joint venture
partners received tremendous support from government officials in both Vietnam
and Canada throughout the permitting process. We will continue to work closely
with regulators and the local community in Vietnam to ensure sustainable
development at Nui Phao as we look toward commercial production in the first
quarter of 2008."
    "With receipt of the Mining License, Tiberon can move forward with
project financing, construction, commissioning and start-up of the Nui Phao
mine upon completion of the final feasibility study in the next few weeks,"
concluded Mr. Caron.
    Tiberon and its partners in the Nui Phao Joint Venture Mining Company
Ltd. (Nuiphaovica) are developing the Nui Phao mine in an environment of
rising prices and solid fundamentals for its principal commodities tungsten
and fluorspar. According to quotes from London-based Metal Bulletin, pricing
for ammonium paratungstate (APT), the most widely-traded intermediate tungsten
product, has increased by 210% in 2005. Nuiphaovica is positioned to become
the world's largest primary tungsten producer as well as a major supplier of
acid-grade fluorspar. Acid-grade fluorspar pricing has increased to
US$235/tonne from US$205/tonne in December, 2004 according to the most recent
quote (June 2005) in Industrial Minerals magazine (Acidspar filtercake
Chinese, Dry basis, CIF US Gulf Port).
    On May 17, Tiberon announced the signing of two tungsten offtake
contracts with Osram Sylvania (Sylvania), one of the world's largest lighting
and tungsten manufacturers. Under terms of the initial contract, Sylvania has
agreed to purchase approximately 44% of projected tungsten concentrate
production for a minimum of five years. Tiberon and Sylvania have also entered
into an option agreement giving Sylvania the option, subject to certain
conditions, to increase its offtake to 100% of tungsten production. Should
both the initial contract and option be fully exercised, the agreements would
cover 15 years and represent up to US$1.2 billion in tungsten revenue alone to
Nuiphaovica, based on current ammonium paratungstate (APT) pricing.
    Nui Phao is a robust project expected to produce 69,000 tonnes of
tungsten trioxide, 3.5 million tonnes of acid-grade fluorspar concentrate,
15,000 tonnes of bismuth, along with copper and gold over the current 16-year
mine life. Cash costs from the open pit mine, after byproduct credits, are
projected to be low: US$26/tonne for tungsten tri-oxide and US$13/ metric
tonne unit for acid-grade fluorspar. In addition, the mine life can be
extended through the conversion of 27 million tonnes of inferred resources
into reserves.

    About Tiberon Minerals
    Tiberon Minerals Ltd. is poised to become a major low-cost producer of
tungsten, fluorspar, copper, gold and bismuth through development of its Nui
Phao property in Vietnam. Nui Phao contains 53 million tonnes of proven and
probable reserves, making it one of the largest tungsten-fluorspar deposits
located outside China. Tiberon's common shares trade on the Toronto Stock
Exchange under the symbol TBR. There are currently 41.1 million shares
outstanding, 44.6 million on a diluted basis.

    This press release includes certain "Forward-Looking Statements." All
statements, other than statements of historical fact, included herein,
including without limitation, statements regarding potential mineralization
and reserves, exploration results and future plans and objectives of Tiberon,
are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from Tiberon's expectations are disclosed under
the heading "Risk Factors" and elsewhere in Tiberon documents filed from time-
to-time with the Toronto Stock Exchange and other regulatory authorities.

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