FOR: MINERA IRL LIMITED

AIM, LMA SYMBOL: MIRL

February 3, 2016

Minera IRL Limited: Resignation of Nominated Adviser and Update on Suspension

LIMA, PERU--(Marketwired - Feb. 3, 2016) - Minera IRL Limited ("Minera IRL" or the "Company")
(AIM:MIRL)(BVLAC:MIRL) announces that Canaccord Genuity Limited ("Canaccord"), the Company's existing Nominated
Adviser, has pursuant to its Nominated Adviser and Broker Agreement (the "Agreement") given the Company 30
days' notice of the termination of the Agreement. Canaccord will therefore cease to act as the Company's
Nominated Adviser and Broker from 3 March 2016. The Company has commenced the search for a replacement
Nominated Adviser.

The Company has been suspended from trading on AIM since 21 September 2015. Under the AIM Rules for Companies,
the admission to trading on AIM of the Company's shares will be cancelled should it remain suspended for six
months.

The Company must therefore appoint a replacement Nominated Adviser and re-commence trading on AIM on or before
21 March 2016 in order to maintain its admission to AIM.

The board is addressing the matters that led to the suspension and expects to make a further announcement
regarding progress within the next week.

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.


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FOR FURTHER INFORMATION PLEASE CONTACT:

Minera IRL
Eric Olson (COO)
+1 (416) 907-7363

OR

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

OR

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


Contact Information:
Minera IRL Limited


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