Annual General Meeting of MIRL re-elected Board of Directors

LIMA, PERU--(Marketwired - Dec. 11, 2017) - Minera IRL Limited ("Minera IRL", or the "Company") (CSE:MIRL)(CSE:MIRL.CN)(CNSX:MIRL)(BVLAC:MIRL) is pleased to announce that it held its annual general meeting ("AGM") on 07 December 2017 in Vancouver, Canada and that the Company's shareholders adopted all of the resolutions presented, receiving the annual financial statements, re-electing all of the incumbent directors and re-appointing the incumbent auditor.

Gerardo Perez, Executive Chairman of Minera IRL said that "We are delighted with the strong support we received from the shareholders at the AGM. Each director was re-elected with over 90% of the vote at the AGM, with our Chairman receiving 96% and our Chief Executive Officer receiving over 99% of the vote. This support from our shareholders serves as a source of timely inspiration for all of us at Minera IRL as we continue our efforts to negotiate a solution with COFIDE and build shareholder value."

Mr Harry Bettis, a significant shareholder of the Company for many years and an old friend of the late Courtney Chamberlain (who was one of the original founders of the Company), attended the AGM in Vancouver and commented as follows: "I am delighted that the directors were re-elected by my fellow shareholders with such a significant mandate. I am confident that the Board intends to use this mandate to continue its transition into a new phase of stability, progress and value creation for all shareholders."

The Company continues to focus on its effort to advance its Ollachea project.

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, information about the legislative regime to which the Company is subject, 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 in this press release include Mr. Bettis' confidence in the Company's ability to use this shareholder mandate to continue its transition into a new phase of stability, progress and value creation for all shareholders. 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, legislative environment, 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.

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), failure to reach acceptable terms with financial advisors, being unable to increase efficiencies, reduce costs, or solidify financing, delays in development or in receiving reports on our development, 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.