Minera IRL Announces Board Appointments and Management Changes

LIMA, PERU--(Marketwired - Dec. 5, 2016) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL), the Latin American gold mining Company, is pleased to announce the appointment of Mr Diego Benavides as Director and Chief Executive Officer, Mr Michael Iannacone as Independent Director, Mr Gerardo Perez as Independent Chairman and Mr Carlos Ruiz de Castilla as Chief Financial Officer, effective December 5th, 2016.

Mr Diego Benavides is a founding executive of Minera IRL and has been working full-time with the Company since its incorporation 15 years ago. He is a lawyer by training with a Masters degree in corporate leadership and business administration and with extensive experience in the Latin American mining industry and community relations. Prior to this appointment Mr Benavides held positions of Director and General Manager while incorporating several mining subsidiaries into Peru during the 1990's. Amongst these companies were Minera Newcrest Peru SA, Minera Mount Isa Peru SA and RGC Mining Exploration. Diego Benavides is one of the pioneers in Peruvian social conflict management, having applied innovative measures including share participation partnerships and other formulas to ensure that local communities benefit from mining activities in their areas. As a result Mr Benavides was appointed an Honorary Member of the Community of Ollachea in 2007, a unique privilege.

Mr Michael Iannacone has been the Chief Financial Officer of Adventus Realty Services Inc, a significant and well capitalized Canadian Real Estate Investment Trust, since March 2013. Prior to that he was CFO of various companies listed on the Toronto Stock Exchange, TSX Ventures Exchange and the AIM London Stock Exchange. Mr Iannacone has extensive experience advising companies in the industrial and resource sectors. Michael Iannacone is a former Director of the largest marine bunkering company in the Vancouver Harbour and is also currently a Director of a TSX Venture Exchange listed company. He qualified as a Chartered Accountant in 1980 while working with Coopers & Lybrand (a predecessor firm to PwC) for more than six years.