Minera IRL and LionGold Cease Talks Regarding Potential Takeover Offer

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

LONDON, UNITED KINGDOM and TORONTO, ONTARIO and LIMA, PERU -- (Marketwired - Oct. 9, 2013) - Further to its announcement of 4 October 2013, Minera IRL Limited ("Minera IRL" or the "Company") (TSX:IRL) (AIM:MIRL) (BVLAC:MIRL) is announcing that its discussions with LionGold Corp Limited regarding a proposed private placement and a possible offer for Minera IRL have ceased.

In accordance with Rule 30.4 of the Code, a copy of this announcement will be available on Minera's website at www.minera-irl.com by no later than 12 noon BST (7 am EDT) on 10 October 2013.

Minera IRL Limited is the AIM traded, TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera is led by an experienced senior management team with extensive industry experience, particularly operating in South America. The Group operates the Corihuarmi Gold Mine and the advanced gold projects Ollachea in Peru and Don Nicolas in Argentina. For more information, please visit www.minera-irl.com.

RBC Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is acting as financial adviser to Minera IRL and no one else in connection with the contents of this announcement and will not be responsible to anyone other than Minera IRL for providing the protections afforded to clients, or for providing advice in relation to any matters referred to herein.



Contact

Minera IRL
Trish Kent, Vice President, Corporate Relations
+511 418 1230
www.minera-irl.com

RBC Capital Markets (Financial Adviser & Co-Broker, London)
Martin Eales
+44 (0)20 7653 4000

RBC Capital Markets (Financial Adviser & Co-Broker, London)
Richard Hughes
+44 (0)20 7653 4000

Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
Andrew Chubb
+44 (0)20 7523 8000

Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
Neil Elliot
+44 (0)20 7523 8000

finnCap (Co-broker, London)
Geoff Nash (Corporate Finance)
+44 (0)20 7600 1658

finnCap (Co-broker, London)
Matthew Robinson (Corporate Finance)
+44 (0)20 7600 1658

finnCap (Co-broker, London)
Elizabeth Johnson (Corporate Broking)
+44 (0)20 7600 1658

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

Buchanan (Financial PR, London)
Gordon Poole
+44 (0)20 7466 5000

Buchanan (Financial PR, London)
Louise Mason
+44 (0)20 7466 5000