LIMA, PERU--(Marketwired - Dec. 20, 2017) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL)(CSE:MIRL)(CSE:MIRL.CN)(CNSX:MIRL) is pleased to announce that it has once again held Christmas parties for the communities surrounding its producing Corihuarmi mine and its flagship Ollachea project, with over 5,000 children in attendance.

"We take great pleasure in continuing this eleven year tradition and our wonderful relationship with our neighbors in these communities. Their support contributes to our own corporate morale, providing inspiration as we continue production at Corihuarmi and our efforts to finalize a new financing package for the Ollachea project", said Diego Benavides, CEO and a director of Minera IRL.

Community leaders, together with all of the Company's recently re-elected directors and its Canadian and Peruvian legal teams, attended the festive Ollachea community party. "As honorary member of the community of Ollachea, I thank my fellow community members for their enthusiasm and our shared confidence in the future of the Ollachea project", added Diego Benavides.

Bernard Pinsky, Q.C., a partner at Clark Wilson, the firm of lawyers representing Minera IRL in Canada, said, "I was very impressed at how Minera IRL has creatively improved the lives of the people of Ollachea by funding and leading cultural clubs, agricultural workshops and teaching farms; they also assist children with free schoolbooks and school utensils".

"Most striking was the Christmas party where everyone in the Ollachea area was invited, and seeing for myself how all the Minera IRL directors, officers and team in attendance personally handed out food and drink to all the guests and literally thousands of age appropriate toys or games to all the children who came. It seems that every person in Ollachea has been touched by the generosity and life improving programs that Minera IRL brings to the community".

In all the communities visited during the Christmas celebrations there were games, competitions and shows. Traditional Peruvian hot chocolate and paneton was served to all attendees and toys were presented to all children present.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

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 statements about its confidence in the future of the Ollachea project and the finalization of a new financing package. 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.

Photos associated with this press release are available at the following address:

Contact Information:

Minera IRL Limited
Gerardo Perez
+51 1 418-1230

Minera IRL Limited
Diego Benavides Norlander
CEO and Director
+51 1 418-1230

Minera IRL Limited
Carlos Ruiz de Castilla
Chief Financial Officer
+1 778 387 5434