Minera IRL Announces Board Appointments and Management Changes - Seite 2

Mr Gerardo Perez, Independent Chairman, was appointed Director earlier this year, and has subsequently been elected by shareholders in the recent Annual General Meeting of the Company. Mr. Perez is a lawyer and a partner in the firm of Barrios Fuentes in Lima, Peru, his areas of expertise include Administrative Law, Regulation, Infrastructure and Concessions and a wealth of management experience.

Mr Perez states, "I am delighted that Diego Benavides has agreed to join Minera IRL's Board of Directors and to assume the role of CEO. Diego brings with him a wealth of executive experience in Latin America supplemented by community relations and corporate skills which will contribute greatly to the execution of Minera IRL's flagship gold project at Ollachea. Also, on behalf of the Board we are delighted to welcome Michael Iannacone to Minera IRL and look forward to working with him. Michael will contribute important financial and capital market skills to Minera IRL which will be positive for the development of the Company.

"I wish to extend my sincere thanks to Frank O´Kelly for his outstanding support in the management of our Company. It has been a pleasure to have worked closely with Frank.

"Mr Carlos Ruiz de Castilla was appointed interim Chief Financial Officer for the Company in May of the current year. Previous to this appointment he held the position of Company Controller since July 2013. Carlos Ruiz has contributed outstanding work and we are pleased to appoint him as Company CFO."

The current Board will continue the process of identifying candidates to fulfil remaining Director positions as required. Until such time, the Board is confident that the Company has sufficient management resources in place in order to continue with the day-to-day business of the Company, including best efforts to achieve immediate trading in Peru and to obtain the lifting of trading restrictions in Canada.

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, information about the legislative regime to which the Company is subject, 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. The Company cautions readers that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Minera IRL's actual financial results, legislative environment, future performance and results of exploration and development programs and plans to be materially different than those expected or estimated future results, performance or achievements and that forward-looking statements are not guarantees of future performance, results or achievements.