Peru Securities Commission removes suspension of Trading Order on Minera IRL Ltd shares and confirms the "primary" status of BVL listing - Seite 2

The pre-engineering studies for the Ollachea project are underway following the efforts to optimize the cost of the CAPEX. The report is expected in the first quarter of 2017, and the results will allow the company to proceed with its initial step to agree on a Feed / EPC/ Operation contract with a first-class construction company.

The company has reduced the amount of government-mandated financial guarantees for its Ollachea project mine closure plan. The Company has a mandate with Peruvian government Bank COFIDE (Corporación Financiera de Desarrollo) to structure a syndicated senior loan for US$240 million.

As part of its continuing social responsibility programs, Minera IRL has been hosting annual Christmas functions in the communities related to its projects for twelve straight years. The Christmas festivities in 2016 drew more than 2,500 needy children and community members from the area of influence for the Ollachea Project.

The Company's Corihuarmi gold mine in central Peru has to date drilled approximately 50% of an exploration drilling program of 3,062 meters. Total 2016 production to the end of December from Corihuarmi was 23,448.85 ounces and total sales were worth US$26.77 million.

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.