FOR: MINERA IRL LIMITED

AIM, LMA SYMBOL: MIRL
TSX SYMBOL: IRL

July 22, 2015

Posting of Circular, Notice of AGM and Proposed Consolidation of Ordinary Shares

LIMA, PERU--(Marketwired - July 22, 2015) - Minera IRL Limited ("Minera IRL", or the "Company")
(AIM:MIRL)(BVLAC:MIRL)(TSX:IRL) has today sent a notice of annual general and special meeting (the "Meeting")
to its shareholders which includes the intention to seek approval to complete a consolidation of its ordinary
shares on the basis of one (1) post consolidation ordinary share for every ten (10) pre-consolidation ordinary
shares (the "Share Consolidation").

The Meeting will be held on 27 August 2015 at 11 a.m. (British Summer Time) at Ordnance House, 31 Pier Road, St
Helier, Jersey, JE4 8PW. The Notice of Meeting, Management Information Circular and Form of Proxy (the "Meeting
Materials") have today been posted to shareholders. The Meeting Materials will also be made available on SEDAR
and the Company's website at www.minera-irl.com.

The proposed Share Consolidation is subject to approval by the Company's shareholders at the Meeting. The
record date (the "Record Date") of the Share Consolidation (being the date the Share Consolidation is
effective) is scheduled for 7 September 2015 with trading on a post-consolidated basis expected to begin on 8
September 2015. The directors of the Company may determine that the Record Date will take place after 7
September 2015; however, the Record Date may not occur after 7 October 2015. To the extent the Record Date is
to occur between 7 September 2015 and 7 October 2015, a news release will be issued to this effect.

The proposed Share Consolidation would apply to all of the issued and outstanding ordinary shares of the
Company, and accordingly it would not alter the relative rights and preferences of existing shareholders, nor
affect any shareholder's proportionate equity or voting interest in the Company, except to the extent that the
Share Consolidation would otherwise result in any shareholder owning a fractional share. In the event that the
Share Consolidation would otherwise result in the issuance of a fractional share, the board of directors of the
Company may (on behalf of relevant shareholders) aggregate and sell the ordinary shares representing a
fractional entitlement to any person and to distribute the net proceeds of sale in due proportion among those
shareholders (except that any proceeds in respect of any holding less than CAD$2 may be retained for the
benefit of the Company).

Additional details regarding the proposed Share Consolidation are included in the Management Information
Circular that is being sent to shareholders today.


Timetable of events (assuming a Record Date of 7 September 2015)
----------------------------------------------------------------------------
Date of circular 17 July 2015
----------------------------------------------------------------------------
Latest time and date for receipt of Proxy 11 am (British Summer Time) /
Forms 6 am (Toronto Time) on 25
August 2015
----------------------------------------------------------------------------
Annual General and Special Meeting 27 August 2015
----------------------------------------------------------------------------
Record Date for the Consolidation 4.30 p.m. (British Summer
Time) / 11:30 a.m. (Toronto
Time) on 7 September 2015
----------------------------------------------------------------------------
Existing Ordinary Shares disabled in CREST 4.30 p.m. (British Summer
and share register closed Time) on 7 September 2014
----------------------------------------------------------------------------
Existing Ordinary Shares disabled in CDS and 4:30 p.m. (Toronto time) on 4
share register closed September 2015
----------------------------------------------------------------------------
Admission effective and dealings commence on Opening of markets on 8
AIM, TSX and BVL on post consolidated basis September 2015
----------------------------------------------------------------------------
CREST accounts credited with new Ordinary 8 September 2015
Shares
----------------------------------------------------------------------------
CDS account settlement date 10 September 2015
----------------------------------------------------------------------------
Certificates in respect of new Ordinary By 11 September 2015
Shares dispatched (estimated)
----------------------------------------------------------------------------


About Minera IRL Limited

Minera IRL Limited is an AIM, TSX and BVL listed precious metals mining and exploration company with operations
in Latin America. Minera IRL is led by a management team with extensive operating experience in South America.
In Peru, the Company operates the Corihuarmi Gold Mine, which continues to add cash flow and has untested
potential, and with the previously announced COFIDE Bridge Loan financing, is now poised to advance its
flagship Ollachea Gold Project towards production.

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

This press release contains forward-looking statements, which reflect the Company's current expectations
regarding future events, including the proposed share consolidation. 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. The forward-looking statements involve risks and
uncertainties. Actual events could differ materially from those projected herein including as a result of
shareholders of the Company not approving the share consolidation, or on account of market reaction to the
share consolidation. Investors should consult the Company's ongoing quarterly filings, management information
circular, annual information form and annual reports for additional information on risks and uncertainties
relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking
statements. Forward-looking statements are made as of the date of this news release and Minera IRL assumes no
obligation, except as may be required by law, to update or revise them to reflect new events or circumstances.


FOR FURTHER INFORMATION PLEASE CONTACT:

Minera IRL
Daryl Hodges
Executive Chairman
+1 (416) 907-7363

OR

Minera IRL
Diego Benavides
Interim CEO and President, Minera IRL S.A.
+ (511) 418-1230

OR

Minera IRL
Brad Boland
CFO
+1 (416) 907-7363
www.minera-irl.com

OR

Canaccord-Genuity Limited
(Nominated Adviser & Broker, London)
Henry Fitzgerald-O'Connor
Oliver Donaldson
+ 44 (0)20 7523 8000

OR

Buchanan
(Financial PR, London)
Bobby Morse
Gordon Poole
+44 (0)20 7466 5000

Contact Information:
Minera IRL Limited


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