CFO/Company Sec Retiring, New Appointment Made

Minera IRL CFO/Company Secretary Retiring, New Appointment Made

London and Toronto, 18 November 2010: Minera IRL Limited ("Minera IRL" or the "Company"), (TSX:IRL) (AIM:MIRL) (BVL:MIRL) the Latin American focused gold mining, development and exploration company, announces the retirement of CFO and Company Secretary Mr Richard Michell, effective 31 December 2010. Mr Tim Miller, Vice President, Corporate Finance, will assume the role of CFO and Company Secretary upon Mr Michell's retirement.

"I wish to convey my sincere thanks to Richard Michell who has served the Company for the past 4 years as CFO and Company Secretary. This was a period of rapid growth which included many advances in the financial management of Minera IRL. I wish Mr Michell a long and happy retirement" stated Courtney Chamberlain Minera IRL Limited Executive Chairman. "I also wish to welcome Tim Miller to his new role".

Mr Miller has a background in corporate finance and a Masters Degree in Applied Finance from the University of Melbourne, Australia. He has recently held responsibilities for the public listing on the TSX, fund raisings and manages the company budgeting process.

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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 Don Nicolas Project in Argentina.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

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.