Minera IRL Limited Reports on Ollachea Community Announcement and Responds to Unauthorised Press Release - Seite 2

Jaime Pinto, Chairman, said "we are truly sorry that the subsidiary's management team and community relations team have acted in an unprofessional manner and have used the Community issue as a way to advance their personal agendas. We have an Extraordinary General Meeting of shareholders scheduled for November 26, 2015, and while this new information has come to light late, I hope shareholders will carefully consider this announcement, as well as all previous announcements by the Company, before they cast their final vote."

Unauthorised Press Release by Minera IRL S.A.

With regard to an unauthorised Press Release issued by Minera IRL S.A. on November 19, 2015, the Company understands that a new charge was filed against the chairman, Mr. Jaime Pinto, on November 17, 2015 by an individual named Miguel Eduardo Choquehuanca Zapata at the Second Specialised Prosecutors Office. The Board believes this new filing is clearly intended to reopen a case that has been closed for over a decade. The Company stresses that there is no active process or investigation against Mr. Pinto for embezzlement or for any crime against public administration and this has been verified by the Company's legal counsel.

The Board believes that this charge is a new attempt by certain individuals to distract attention from the recent announcements made by the Company, including that of the filing of the request for a criminal investigation against Mr. Benavides and Sherpa representatives as announced by the Company on November 17, 2015. The Board believes a further purpose of this unauthorised Press Release is to undermine the professional reputation of Mr. Pinto, as well as to generate unfounded doubts about his integrity.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

Cautionary Statement on Forward-Looking Information

Certain information in this news release, including information about the Company's financial or operating performance and other statements expressing management's expectations or estimates of future events, performance and exploration and development programs or plans constitute "forward-looking statements". Forward-looking statements often, but not always, are identified by words such as "seek", "believe", "expect", "do not expect", "will", "will not", "intend", "estimate", "anticipate", "plan", "schedule" and similar expressions of a conditional or future oriented nature identify forward-looking statements. Forward-looking statements are, necessarily, based upon a number of estimates and assumptions. While considered by management to be reasonable in the context in which they are made, forward-looking statements are inherently subject to political, legal, regulatory, business and economic risks and competitive uncertainties and contingencies.