Minera IRL Announces Director and Management Changes

LONDON, UNITED KINGDOM and TORONTO, ONTARIO--(Marketwired - Feb. 10, 2014) - Minera IRL Limited ("Minera IRL" or the "Company"), (TSX:IRL) (AIM:MIRL) (BVLAC:MIRL), the Latin America gold mining company, is pleased to announce the appointment of Mr Daryl Hodges to the Board as Non-Executive Director, effective 10 February 2014. Mr Graeme D. Ross will be stepping down as Non-Executive Director of the Company to pursue other business interests after seven years of service.

Daryl John Hodges, aged 56, has extensive expertise in the mining sector, having worked on exploration and development projects in Canada, Russia, Scandinavia, and southeast Asia covering gold, copper-zinc, and nickel-copper-platinum-palladium deposits.

Mr Hodges was a founding partner of Jennings Capital Inc. and co-founder of the capital markets operations of Jennings Capital Inc. Daryl was responsible for growing the successful mining franchise of the firm, originally as an Analyst and subsequently as Executive Director of Investment Banking. Most recently, Mr Hodges served as Chief Executive Officer, President and Director of Jennings Capital Inc., until September 2013 and as a Director of Jennings Capital (U.S.A.) Inc. until September 2013. Mr Hodges worked as both a Mining Corporate Finance Executive and Mining Research Analyst at HSBC Securities prior to joining Jennings Capital in 1999. Prior roles also included positions of increased responsibility at Falconbridge Limited, which Mr Hodges left in 1996 after almost ten years. Mr. Hodges is also a Director of Ladykirk Capital Advisors, a private advisory firm.

Mr Hodges currently holds 15,000 ordinary shares in Minera IRL, representing 0.01% of the issued share capital of the Company. There are no further disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies in respect of the appointment.

The Company also announces two management responsibility changes. The role of Company Secretary has been passed from Mr Tim Miller to Mr Brad Boland which will be in addition to Mr Boland's role as Chief Financial Officer. Ms Trish Kent is retiring from the role of Vice President, Corporate Relations, with Mr Jeremy Link assuming responsibility for investor relations. Both Mr Miller and Ms Kent will continue in a consulting capacity with the Company.

Mr Courtney Chamberlain, Executive Chairman of Minera IRL, stated, "I wish to extend my deep appreciation to Graeme Ross for his valuable contribution to our Board over the past seven years during a period of growth and positioning Minera IRL for the development of our next generation of mines. With Graeme's departure, I extend my warm welcome to Daryl Hodges as our new Director. Daryl brings a wealth of experience in both the mining sector and capital markets."

"I wish to extend my sincere thanks to my colleagues Tim Miller and Trish Kent for their outstanding support and tireless efforts in building our Company over the years. It has been a pleasure and privilege to have worked closely with Tim and Trish. I ask all stakeholders to extend their full support to Brad Boland and Jeremy Link in fulfilling their expanded roles."

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 IRL 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.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law or regulation, Minera IRL Limited does not intend to update any forward-looking statements to conform these statements to actual results.