Peru Securities Commission removes suspension of Trading Order on Minera IRL Ltd shares and confirms the "primary" status of BVL listing

LIMA, PERU--(Marketwired - Jan. 4, 2017) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL), the Latin American gold mining Company, is pleased to announce that Peru's securities regulatory commission, the Superintendencia del Mercado de Valores, ("SMV") has lifted the suspension of trading of the Company's shares on the Peruvian stock market, the Bolsa de Valores de Lima. ("BVL").

In an official resolution, the SMV stated that Minera IRL had provided all documentation and information required to allow a return to trading on the Bolsa de Valores de Lima, and hence declared that the suspension of trading on the BVL is no longer in effect.

"We are very happy to have complied with all the requirements of the SMV that will allow us to reinitiate trading once again on the BVL. We want to thank our shareholders for their patience and for their confidence. We will continue to work hard to deliver positive results for our shareholders and to add value to the company," said Diego Benavides, a founder of the company and a newly-appointed director and chief executive officer.

SMV's resolution also confirmed the primary status of the listing of the Company's shares on BVL. It does so by recognizing that the shares of the Company are considered "domestic" securities for the purpose of the Peruvian Securities legislation, which means that the Company is subject to Peruvian legislation on companies whose shares are listed on the BVL, including regulations for the submission of information, public tender offers and exempt takeover bids, which legislation prevails over any other provision regulating issuers of securities incorporated outside of Peru.

The Company also has submitted all requested documents for revocation of the cease trade order from the Ontario Securities Commission ("OSC") and is awaiting word from the OSC on its application; which if granted would pave the way for the Company to make final application for listing on the Canadian Securities Exchange ("CSE"). The Company also is considering contracting a financial advisor ("NOMAD") as part of the first steps to a possible relisting in London.

The Company has US$ 6.8 million in available cash and remains committed to improving efficiencies and lowering cost.

The Company is focusing on bringing on-stream its flagship Ollachea gold mine, located in the Puno region in southern Peru. A drilling program of approximately 5,200 meters has been completed in the Minapampa Far East zone. Modeling and additional metallurgical tests are expected to be available by mid-first quarter of 2017.