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Minera IRL Limited Announces Management Change

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FOR: MINERA IRL LIMITED

AIM, LMA SYMBOL: MIRL
TSX SYMBOL: IRL

August 24, 2015

Minera IRL Limited Announces Management Change

LIMA, PERU--(Marketwired - Aug. 24, 2015) - Minera IRL Limited ("Minera IRL" or the "Company") (TSX:IRL)(AIM:MIRL)
(BVLAC:MIRL) announces that the Board has unanimously voted to remove Diego Benavides from the position of Interim CEO
of Minera IRL.

The Company is also investigating allegations of impropriety received through its recently implemented and
independently managed Whistleblower hotline. The investigation will be overseen by the Company's independent members
of the board, Doug Jones and Robin Fryer. Additional detail will be provided as it becomes available.

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 and is advancing its flagship Ollachea Gold Project towards production.
For more information, please visit www.minera-irl.com.

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
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, 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.

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. Risks, uncertainties and
contingencies and other factors that might cause actual performance to differ from forward-looking statements include,
but are not limited to, any failure to obtain or complete project financing for the Ollachea Gold Project (including
the Senior Debt Facility),changes in the price of precious metals and commodities, changes in the relative exchange
rates of the US dollar against the Peruvian nuevo sol, interest rates, legislative, political, social or economic
developments both within the countries in which the Company operates and in general, contests over title to property,
the speculative nature of mineral exploration and development, operating or technical difficulties in connection with
the Company's development or exploration programs, increasing costs as a result of inflation or scarcity of human
resources and input materials or equipment. Known and unknown risks inherent in the mining business include potential
uncertainties related to the title of mineral claims, the accuracy of mineral reserve and resource estimates,
metallurgical recoveries, capital and operating costs and the future demand for minerals. For additional information,
please consult the Company's most recently filed MD&A and Annual Information Form.


FOR FURTHER INFORMATION PLEASE CONTACT:

Minera IRL
Daryl Hodges (Executive Chairman)
+1 (647) 271-3817

OR

Minera IRL
Brad Boland (CFO)
+1 (416) 907-7363

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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