LONDON, UNITED KINGDOM and TORONTO, ONTARIO — (Marketwire) — 08/15/11 — Minera IRL Limited („Minera IRL“ or the „Company“), (TSX: IRL)(AIM: MIRL)(BVLAC: MIRL) the Latin America gold mining company, is pleased to announce its unaudited interim results for the 3 month period ended 30 June 2011. All amounts are reported in US dollars.
Highlights for the quarter ended 30 June 2011 included:
Financial
Operational
„Minera IRL has continued its strong financial performance in the 2011 year, with an above expectation financial result for the three months to 30 June 2011. This was again driven by above budget gold production at our Corihuarmi Gold Mine and an increasing gold price.“ said Courtney Chamberlain, Minera IRL Limited Executive Chairman. „The Company also recently achieved an important milestone with the completion of a positive Pre-Feasibility Study at Ollachea Project in Peru. At the Don Nicolas Project in Argentina, the Feasibility Study progressed well during the quarter with targeted completion by late 2011. On the exploration front, the Company continues to receive positive results at the Escondido Project in Argentina, which include, for the first time, high grade intersections.“
The full , including the for the quarter ended 30 June, 2011 are available from the Company-s website and from SEDAR.
Minera IRL Limited is the AIM traded and TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera IRL is led by an experienced senior management team with extensive industry experience, particularly in operating in South America. The Group operates the Corihuarmi Gold Mine and the emerging Ollachea Gold Project in Peru as well as the advanced Don Nicolas Project in Argentina. For more information, please visit .
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company-s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law or regulation, Minera IRL Limited does not intend to update any forward-looking statements to conform these statements to actual results.
Competent Persons Statement
The preparation of the technical information contained herein was supervised and reviewed by Courtney Chamberlain, Executive Chairman of the Company, BSc and MSc Metallurgical Engineering, a Fellow of the Australian Institute of Mining and Metallurgy (AUSIMM) and Donald McIver, VP Exploration of the Company, MSc Exploration and Economic Geology, a Fellow of the Australian Institute of Mining and Metallurgy (AUSIMM), who are recognized as a Qualified Person for the purposes of National Instrument 43-101, and who has reviewed and approved the technical information in this press release.
Quality Assurance and Quality Control Procedures Disclosure
The Company has implemented and maintains a Minera IRL quality assurance/quality control (QA/QC) protocol on its projects to ensure best industry practice in sampling and analysis of exploration and resource definition samples. The insertion of field duplicates, certified standards and blank samples into the sample stream form part of the MIRL procedure (these act as an independent check on contamination, precision and accuracy in the analytical laboratory).
Assay results are reported once rigorous QAQC procedures have been approved.
Independent Audit Programs
Towards maintaining compliancy with international standards as they pertain to the minerals industry resource evaluation and estimation procedure, MIRL regularly contracts the services of industry experts to conduct detailed audits of established QAQC procedures.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.
Contacts: Minera IRL Trish Kent Vice President, Corporate Relations +511 4181230
Collins Stewart (Nominated Adviser & Broker, London) John Prior + 44 (0)20 7523 8350
Collins Stewart (Nominated Adviser & Broker, London) Adam Miller + 44 (0)20 7523 8350
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) Joanna Weaving (Corporate Broking) + 44 (0)20 7600 1658
RBC Capital Markets (Co-broker, London) Stephen Foss +44 (0)20 7653 4000
RBC Capital Markets (Co-broker, London) Martin Eales +44 (0)20 7653 4000
Bankside Consultants (Financial PR, London) Simon Rothschild + 44 (0)20 7367 8888
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