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Corihuarmi and Ollachea Gold Mines: A Golden Opportunity in Latin America

Learn about the Corihuarmi and Ollachea gold mines in Peru, with experienced board members, strong community support, and robust project economics. Shares trade on the Lima Exchange and the Canadian Securities Exchange.

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Corihuarmi and Ollachea Gold Mines: A Golden Opportunity in Latin America

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  1. BVL: MIRL October 2017

  2. MIRL Deveploment Listed at the AIM - BVL (2008). TSX (2010) Corihuarmi start production: Capex US$ 21mm; 50k/yr Investment returned in 7 months – LOM 2012 Ollachea exploration concludes 2012 Feasibility concluded AMEC EIA and construction permit approved Founding Partners Minera IRL S.A. Courtney Chamberlain Diego Benavides, Initial capital US$ 200,000 Corihuarmi exploration Private Funds:US$ 20mm Identification of 62 early exploration projects Incorporation of MKK Corihuarmi LOM extended 2020 Acquisition of the Corihuarmi Project 30 years Surface Agreement with Ollachea Community Corihuarmi LOM extended to 2015 Community permit for operations July 2016 Drilling program Ollachea 5,200 mts concluded Drilling program Corihuarmi 4,000 mts – march 2017 Relisting in BVL and CSE Ollachea initiate its exploration program 5 year Surface Agreement with Ollachea Community Acquisition the Ollachea concessions Rio Tinto

  3. A Golden Opportunity in Latin America • Two gold mines: • Corihuarmi mine produced 273,741 oz in 2008 -2016 • Ollachea project reserves MOL1.0 million ounces • Experienced Board of Directors and management team • Shares trade on Lima Exchange and in process to trade on CSE • Drilling programs will expect to expand resources • Ollachea: approximately 600,000 additionalounces • Successful model of community relations, with strong local support

  4. Perú – A Mining Country • One of the world`s largest producers of gold, silver, copper, zinc • Strong economy, with investment grade debt ratings • Peru`s Constitution favors private sector investments • Solid government support for mining with favorable regulations • Mining exports totaled US$32.7 billion from January to November, 2016 Goldwork Perú – Sican culture 700-100AC Fuente: MINEM, BCR, MEF

  5. Minera IRL Structure and Capital Minera IRL Limited – Registered in Jersey BOARD OF DIRECTORS Chairman of the Board: Gerardo Perez Delgado Director and CEO: Diego Benavides Norlander Director: Michael Iannacone Senior Management Chief Financial Officer: Carlos Ruiz de Castilla General Manager Corihuarmi: John Velasquez Palacio 593 employees Shares Outstanding 231,135,028 shares 2,000,000 options

  6. Project Portfolio • Corihuarmi Gold Mine – open pit • Production 2008-2016: 273,741 oz • Production 2016: 23,448.85 oz oz • LOM: Q3 2020 • Ollachea Gold Project - underground • Production Q4 2018: 100,000 oz • LOM: Q4 2027 • Capex: US$ 170 million (revision) • Quilavira Au/Ag • Frontera Au/Cu/Mo • Puno Region Au Exploration Portfolio

  7. Ollachea: The Next Gold Mine in Perú • Fully permitted : EIA and Construction • Key infrastructure in place : Paved highway, grid power, ports, airports, motivated local workforce • Strong community support • Robust project economics: • 1.3 million ounces M&I + 0.2 million Inf • Capex optimization by Mining Plus in process • Negotiation of EPC • Open-ended exploration upside • Concurayoc Zone hosts an inferred mineral resource of 0.9 million ounces • Underground drilling : expected plus 600,000 additional ounces

  8. Resources - Ollachea Project Exploration results continue to demonstrate on-strike and down-dip potential Future Plant Facilities Community of Ollachea Minapampa 1.3M oz (M&I) +0.2M oz (Inf) Concurayoc 0.9M Oz (Inf) Ollachea Fault trace ? LEGEND Mineralized Trend Paquillusi Fault trace Prospective Sheared Sedimentary Package Mineral Resources Ore-grade Intercepts Regional Fault trace 1.2 km Exploration Tunnel

  9. Ollachea: Drilling Demonstrates Exploration Upside S N 1.2km “exploration” tunnel 4.48 g/t Au over 20m 5.47 g/t Au over 11m Concurayoc Zone Minapampa Zone 5.45 g/t Au over 9m 320 m step out

  10. Reserves and Resources Notes on Mineral Reserves and Resources: 1.- Total proven and probable mineral reserves are included in total measured and indicated resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral reserves and mineral resources are disclosed on a total project basis (at 100%). 2.- Tonnages are metric tonnes and are rounded to the closet million tonnes. Grades are rounded to the closest “0.0” and contained gold is reported as troy ounces.. Mineral resources for Ollachea are reported above a cut-off of 2.1 g/t Au. Mineral re serves at Ollachea are based upon a gold price of $1,300 per ounce, LOM project operating costs of $49.3 per tonne of ore. 3.- Mineral reserves for Ollachea were estimated under the supervision of Neil Schunke of Mining Plus Canada Pty Ltd, who is recognized as a Qualified Person for the purposes of NI 43-101. Mineral resources were estimated under the supervision of Doug Corley of GHD Group Pty, whoc is recognized as a Qualified Person for the purposes of NI 43-101 4.- The Community of Ollachea will earn a 5% free-carry equity interest in the Ollachea Gold Project upon the commencement of commercial production. 5.- Corihuarmi's mineral resources are based on measured and indicated mineral resources as of March 31, 2017 based on a cutting law of 0.13 g / t Au. The proven and probable Mining Reserves are based on an average cutting rate cut of 0.1 g / t Au and a gold price of $ 1,250 per ounce. The supervision and review has been done by Andrés Rivera of The Andean Consulting Group SAC, who are recognized as Qualified Person for the purposes of NI 43-101. 6. For additional technical information, please refer to the associated NI 43-101 technical reports, the Company’s most recent AIF, the Ollachea Optimization press release dated 4 June 2014 and New Technical Report and Increase Reserves of Corihuarmi Mine press release dated 02 October 2017 the which are all available on SEDAR.

  11. Added Value “Each Community Is Unique” Cushuro Corihuarmi Ollachea • The Community is a 5% share partner in • the Ollachea Project • Assisting with the formalization of local • artesanal miners • Organic horticulture and reforestation • projects • Establishment of the Traditional Music and • Dance Centre • Scholarship programme for youth and care • of the aged • Assistance with the formation of • community transport and construction • companies • Vicuña Conservation Project – • working with an endangered • Camelid species • Formation of a community • business for the sale of Vicuña • wool • Annual participation in a Chaccu: • round-up, shearing and vaccination • of the Vicuñas • A relationship with 7 communities • Formation of community businesses for • transport, production of milk products • and services • The Communities supply 45% of the • work force at the Corihuarmi Mine • Improved health, education and • infrastructure programmes

  12. www.minera-irl.com

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