Minera IRL and LionGold Cease Talks Regarding Potential Takeover Offer

LONDON, UNITED KINGDOM and TORONTO, ONTARIO and LIMA, PERU--(Marketwired - Oct. 9, 2013) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Further to its announcement of 4 October 2013, Minera IRL Limited ("Minera IRL" or the "Company") (TSX:IRL)(AIM:MIRL)(BVLAC:MIRL) is announcing that its discussions with LionGold Corp Limited regarding a proposed private placement and a possible offer for Minera IRL have ceased.

In accordance with Rule 30.4 of the Code, a copy of this announcement will be available on Minera's website at www.minera-irl.com by no later than 12 noon BST (7 am EDT) on 10 October 2013.

Minera IRL Limited is the AIM traded, TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera is led by an experienced senior management team with extensive industry experience, particularly operating in South America. The Group operates the Corihuarmi Gold Mine and the advanced gold projects Ollachea in Peru and Don Nicolas in Argentina. For more information, please visit www.minera-irl.com.

RBC Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is acting as financial adviser to Minera IRL and no one else in connection with the contents of this announcement and will not be responsible to anyone other than Minera IRL for providing the protections afforded to clients, or for providing advice in relation to any matters referred to herein.