Minera IRL Retains Investor Relations Consultant and Grants Stock Options

LIMA, Peru, April 04, 2022 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) is pleased to announce that it has retained Maxwell Mercantile Inc. to assist it in developing and implementing an effective investor relations program, including advice with respect to the use of social media and investor awareness programs and assisting management in developing a strategy to expand the Company’s exposure to the investment community.

Pursuant to a signed retainer agreement, Maxwell Mercantile Inc. is to receive a monthly retainer of US $10,000 over an initial term of eight months, and the Company has granted Maxwell Mercantile Inc. an option to purchase 4,600,000 ordinary shares at an exercise price of CDN $ 0.085 for a term of three years. The options will vest in installments over a period of thirteen months. The retainer agreement is subject to automatic renewal for successive terms of six months unless either party decides it does not wish to renew.

About Maxwell Mercantile Inc.

Maxwell Mercantile Inc. is a financial advisory firm based in Vancouver, Canada. Its Chief Executive Officer, Theodore Konyi, has over 30 years of experience having successfully completed more than US $200 million in private and public financing. Mr. Konyi has been involved either as a director or senior management for various publicly listed companies and was the co-founder of First Coal Corporation, which raised US $65 million privately and was subsequently sold to Xstrata Mining for US $153 million.

About Minera IRL Limited

Minera IRL Limited is the CSE and BVL listed holding company of Minera IRL S.A. and Compañía Minera Kuri Kullu S.A., two precious metal mining companies engaged in mining exploration, development, and operations in Peru, with a primary focus on gold. Minera is led by an agile and experienced senior management team with extensive mining industry experience, particularly in South America. Minera operates the Corihuarmi Gold Mine located 5,000 meters above sea level in Central Peru while assessing opportunities to advance its Ollachea Gold Project located in the Department of Puno, Southern Peru. For more information, please visit www.minera-irl.com.

On behalf of the Board of Directors of Minera IRL Limited

Gerardo Perez
Executive Chairman

Diego Benavides
CEO and Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Minera IRL Limited

Susan Gabbie
Manager, Communications
+51 1 418 - 1230

Pedro Valdez
Manager, Investor Relations
+51 1 418 – 1230

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 press release constitutes “forward-looking statements.” Forward-looking statements in this press release include the expectation that, with assistance from Maxwell Mercantile Inc., the Company can develop and implement an effective investor relations program and expand its exposure to the investment community. Forward looking statements are based on assumptions. While management believes these assumptions and statements are reasonable in context, 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 results and future performance 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, Peru’s ability to contain the COVID-19 crisis, changes in and access to the capital or precious metals markets, and changes to legislative, political, social, health or economic developments both within Peru and in general.