Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Minera IRL Ltd

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Fratelli Investments Ltd.

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

29 November 2013

6. Date on which issuer notified:

30 December 2013

7. Threshold(s) that is/are crossed orreached: vi, vii

Below 6%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

JE00B1HNYF12

11,295,016

11,295,016

10,783,516

10,783,516

5.90%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,783,516

5.90%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Previous events that trigger notification by Fratelli Investments Ltd. which Minera IRL was notified about on 30 December 2013, include:

(1) 5 March 2012 - the decrease in the percentage of voting rights held from 9.25% to 7.43% due to an increase of the issued share capital of Minera IRL to 148,842,884 ordinary shares. Fratelli's holding remained at 11,063,016 ordinary shares.

(2) 1 February 2013 - the increase in the percentage of voting rights held from 7.28% to 8.67% due to the purchase of 2,100,000 ordinary shares at GBP0.45 increasing Fratelli's holding from 11,063,016 to 13,163,016 shares.

(3) 7 February 2013 - the decrease in the percentage of voting rights held from 8.66% to 7.58% due to an increase of the issued share capital of Minera IRL to 173,677,884 ordinary shares. Fratelli's holding remained at 13,161,016 ordinary shares.

(4) 9 October 2013 - the decrease in the percentage of voting rights held from 7.01% to 6.83% due to the sale of 317,500 ordinary shares at USD0.26 decreasing Fratelli's holding from 12,183,016 shares to 11,865,516 shares.

14. Contact name:

Viviana Rubia ([email protected])

15. Contact telephone number:

+56 2 2 577 36 00