Range Energy Resources {CSE: RGO} have arranged a non brokered private placement for $3.5 million.

This is to keep them in good standing in the Khalakan block in Iraqi Kurdistan.

Mr. Toufic Chahine reports

NON-BROKERED PRIVATE PLACEMENT FINANCING

Range Energy Resources {CSE: RGO} has arranged a non-brokered private placement of up to 100 million units of the company at a price of 3.5 cents per unit for gross proceeds of up to $3.5-million.

Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share for a period of five years from the closing date of the offering at a price of five cents per common share.

The closing of the offering is subject to receipt of all necessary regulatory and board approvals. The securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The company anticipates that there will likely be insider participation in the offering.

The capital from the offering will be used by the company to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan block in the Kurdistan region of Iraq can continue, as well as provide general working capital.

We seek Safe Harbor.

Kootenay Silver {TSX.V: KTN} have confirmed that shareholders of Northair Silver {TSX.V: INM} have approved their business combination.

This was announced following a Special Meeting of Northair shareholders.

Northair Silver Corporation . {TSXV: INM} is pleased to announce that security holders of Northair Silver have approved the previously announced business combination with Kootenay Silver {TSXV: KTN}, to be completed by way of a plan of arrangement, at a special meeting held earlier today.

The press release confirmed:

Under the terms of the Arrangement, Kootenay will acquire all the issued and outstanding common shares of Northair in exchange for 0.35 of a common share of Kootenay, plus 0.15 of a warrant to purchase Kootenay common shares at an exercise price of $0.55 for a period of five years from closing, for each Northair share held

Neometals Ltd (ASX:NMT) is pleased to advise that it has appointed two experienced new independent directors effective from 14 April 2016:

This is to enable the company to comply with best practice corporate governance expectations at the institutional level, as they progress towards an ASX 300 entry.

NMT expands board to drive strategic objectives

 
Neometals Ltd (ASX:NMT) is pleased to advise that it has appointed two new independent directors effective from 14 April 2016:

Mr Doug Ritchie; and

Dr Natalia Streltsova.

Doug Ritchie is a senior resources industry executive with over 35 years experience, including over 28 years working with Rio Tinto in various senior management roles including CEO Rio Tinto Energy Australia and most recently the Group Executive of Strategy based in the UK. Mr Ritchie has considerable international corporate experience, including in China, and is currently a Non‐Executive Director of diversified mining company Arrium Ltd., and the Chairman of Uniquest, the University of Queensland’s commercialisation company.

 
Natalia Streltsova is a PhD qualified chemical engineer with over 25 years experience in the minerals industry and an extensive background in mineral processing and hydrometallurgy across a range of commodities relevant to Neometals. Her previous roles have included Director of Technical Development at Vale (formerly CVRD), Development Manager at GRD Minproc and senior technical roles at BHP Billiton and WMC Resources that involved considerable interaction with operations to identify and implement innovative projects to increase production and reduce costs. Dr Streltsova has considerable international experience in technical and business development capacities, in South America, Africa and the Former Soviet Union and is currently a Non‐Executive Director of Potash West NL.

 
Neometals Chairman, Steven Cole, commented “we are delighted that Doug and Natalia have agreed to join the Board. With Neometals strategically positioning itself as a globally relevant player in the lithium and titanium industries, Doug’s and Natalia’s wealth of relevant technical and commercial experience will be invaluable. Neometals very much looks forward to their contributions for the benefit of the Company and its shareholders as a whole.

As the Company’s market capitalisation continues to grow towards ASX 300 entry level, the expanded majority independent board coupled with the organisation’s existing strong commitment to corporate governance best practice, well positions the Company to meet institutional shareholder governance expectations.”

ENDS

 
For further information, please contact:

Chris Reed.  MD

+61 8 9322 1182

info@neometals.com.au

Neometals {ASX: NMT} have announced that Mining  has commenced at the Mt Marion Lithium Project in Western Australia.

Video of the first blast can be viewed by clicking

Neometals {ASX: NMT} have announced that Mining  has commenced at the Mt Marion Lithium Project in Western Australia.

To view a video of the first blast, please click HERE

Neometals shareprice has been climbing recently as management are delivering on their stated objectives, the culmination of this being the first blast as the project officially goes live.

A terrific achievement in a very difficult environment in the mining sector.

POET Technologies {TSX.V: POET} have confirmed they will issue their earnings report tomorrow, 14th April 2016.

POET are transcending the silicone chip with their new technology, prototype production is expected in late 2016.

Avalon Advanced Materials {TSX: AVL} announced an update after a pilot plant processing of lithium from their Separation Rapids project.

The company were pleased with the quality of the  resulting petalite, which met all target specifications.

Avalon Completes Pilot Plant Processing of Bulk Sample from Separation Rapids Lithium Project

Avalon Advanced Materials {TSX: AVL}  have announced a progress report on the process development work for its Separation Rapids Lithium Project, located in Kenora Ontario.

Pilot processing of a bulk sample of the ore has successfully produced one tonne of high purity lithium mineral concentrate (petalite) that meets target specifications. Approximately 300kg will be used for further process development work toward defining a flowsheet for production of a high purity lithium chemical for battery applications. Preliminary work is already underway and scheduled for completion in June, 2016 with further piloting of the process planned for later in 2016. The remainder of the concentrate will be shipped to potential customers in the glass industry who have requested product samples for evaluation in glass-ceramic applications.

The bulk sample pilot plant was conducted at metallurgical facilities in Germany under the direction of Dorfner Anzaplan GmbH, Germany (“Anzaplan”), a specialist in industrial minerals process development. The flow sheet employs magnetic separation and froth flotation processes that are a significant improvement on the process originally developed and patented by Avalon in 1998-99 to produce a petalite concentrate for glass-ceramics. The concentrate produced meets customer expectations on lithium content and purity, assaying 4.0% Li2O and less than 0.01% Fe2O3. The work was supervised by Avalon’s Senior Vice President, Metallurgy and Technology Development, Mr. David Marsh.

Future Plans

The PEA is currently being compiled based on the resource as defined during the original drilling programs conducted by Avalon in 1997-2001. At currently anticipated production rates this would provide sufficient resources for a minimum 10 year operating life. The resource remains open to depth and along strike for expansion and a summer exploration drilling program is currently being planned to delineate additional lithium resources.

Following the completion of the PEA this summer, Avalon intends to proceed into a full feasibility study along with environmental assessment work with a target date for completion in Q2 2017.

In the meantime, the Company is studying alternatives for delivery of clean, low-cost power to the project site and alternative locations for the hydrometallurgical plant to produce the proposed lithium hydroxide product for the battery industry.

Vancouver, BC April 8, 2016 – Terrace Energy Corp. {TSX.V: TZR} have  announced that, further to the Company’s previous press release dated March 31, the Supreme Court of British Columbia has issued an interim order authorising a special meeting  of the holders (the “Noteholders”) of its outstanding 8% convertible unsecured notes due April 2, 2018.

Barkerville Gold Mines Ltd. {TSXV: BGM} announces that it has been served with a proposed class action lawsuit.

This is in relation to the 2012 technical report prepared by Peter George concerning the “district potential” resource estimate report, which was subsequently withdrawn. The claim is for $9.9 million damages.

 
TORONTO, ON – April 8, 2016 – Barkerville Gold Mines Ltd. {TSXV: BGM} announces that it has been served with a proposed class action lawsuit that has been commenced in the Ontario Superior Court of Justice (the “Notice of Action”) relating to an August 12, 2012, technical report prepared by Peter T. George, P. Geo, concerning a mineral resource estimate for the Cariboo Gold Project.

The Notice of Action also names the Company’s former President and CEO, James Francis Callaghan, former CFO, Minaz Dhanani, the author of the Technical Report Peter T. George and his consulting company, Geoex Limited.

The representative plaintiff is requesting various orders and declarations in the Notice of Action, including $9,900,000 in damages, based on alleged misrepresentations in violation of Canadian securities regulatory requirements relating to the mineral resource estimate that was announced on June 28, 2012, and incorporated into various disclosure documents, including but not limited to, the Technical Report.

The Company has retained counsel and intends to vigorously defend its interest and protect its rights.

For further information on Barkerville Gold Mines Ltd.,

Please contact:

Tom Obradovich
Chief Executive Officer
+1 416 361 2511
tobradovich@barkervillegold.com

Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, uncertainty over the outcome of any litigious matters, the Company’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Kootenay Silver {TSX.V: KTN} merger partner Northair Silver has reminded their shareholders to support the merger by voting yes before the deadline date, 12th April 2016.

Northair Silver Reminds Shareholders to Vote for the Merger With Kootenay Silver by Deadline of April 12 2016

 
VANCOUVER, BRITISH COLUMBIA, Apr 7, 2016 – Northair Silver Corp. today reminds its shareholders to vote “FOR” the special resolution to approve the proposed plan of arrangement  with respect to the Northair business combination with Kootenay Silver Inc. (TSX.V KTN), as previously announced in a news release dated March 31, 2016.

The filing deadline for submitting proxy forms and voting instruction forms is April 12, 2016 at 10:00 am (Pacific Daylight Time).

BOARD RECOMMENDATION

Northair’s Board of Directors  have determined that the Arrangement is in the best interest of shareholders, based on the opinion of its financial advisor Haywood Securities, the recommendations of the special committee of the Board and Institutional Shareholder Services (“ISS”), a leading independent proxy advisory firm. As such, the Board reiterates its previous recommendation that shareholders vote in favour of the Arrangement.

NORTHAIR SPECIAL MEETING

The Northair special meeting of shareholders is scheduled to be held at Suite 950 – 609 Granville Street, Vancouver, British Columbia, on April 14, 2016 at 18:00 PM GMT.

All shareholders are encouraged to vote.

HOW TO VOTE

In the interest of time, shareholders are encouraged to vote via the internet, by telephone or fax.

Registered shareholders (shareholders who hold Northair shares in their name and represented by a physical certificate or through the Direct Registration System) may vote as follows:

— Internet: Vote online at www.investorvote.com, using the control number located on your proxy (which you will receive in the mail or via email)

— Telephone: Call +1 866 732 868

—  Mail — In person at the meeting

Beneficial shareholders (shareholders who hold Northair shares through a bank, broker or other intermediary) will have different voting instructions provided to them and should follow the instructions found on their voting instruction form to vote online, by telephone or fax.

SHAREHOLDER QUESTIONS

Shareholders who have questions or require assistance with voting may contact Northair’s Proxy Solicitation Agent:

Laurel Hill Advisory Group +1 416 304 0211

By email at: assistance@laurelhill.com

Qualified Persons

Mr. David Ernst, a professional geologist and VP Exploration of Northair is a Qualified Person as defined by NI 43-101. Mr. Ernst has reviewed the technical information in this news release and approves the disclosure herein.

About Northair Silver Corp.

Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, Mexico, 26 kilometres from the historic silver mining city of Parral. The property boasts nearby power, good road access, gentle topography, established infrastructure and currently hosts a NI 43-101 Resource estimate of 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 g/t silver and 11.46 million ounces of silver in the Inferred category grading 80 g/t silver. The mineralized system at La Cigarra has been traced over 6.5 kilometres and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit is open along strike and at depth and is approximately 25 kilometres north, and along strike of Grupo Mexico’s Santa Barbara mine and Minera Frisco’s San Francisco del Oro mine.

ON BEHALF OF THE BOARD,

NORTHAIR SILVER CORP.

Andrea Zaradic, P. Eng., President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Scorpio Gold Corp. {TSX.V: SGN} have released their financial results for the fourth quarter  and year ended December 31, 2015.

CEO Peter Hawley declared 2016 would be a “transitional year for the company”.

VANCOUVER, B.C. – Scorpio Gold Corp. {TSX.V: SGN} is pleased to announce its financial results for the fourth quarter and year ended December 31, 2015.

This press release should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2015 and Management’s Discussion & Analysis (“MD&A”) for the same period, available on the Company’s website at www.scorpiogold.com and under the Company’s name on SEDAR at www.sedar.com

All monetary amounts are expressed in US dollars unless otherwise specified.

(1) This is a non-IFRS measure; refer to Non-IFRS Measures section of this press release and the Company’s Management Discussion & Analysis for a complete definition and reconciliation to the Company’s financial statements.

 
Peter Hawley, President and CEO comments, “In its fourth year of commercial production, the Mineral Ridge operation produced 39,690 ounces of gold and generated $11.2 million of cash flow from operating activities. As with many other companies in the industry, a continued decline in gold prices during 2015 contributed to Scorpio Gold recording a non-cash impairment. The Company maintains its emphasis on operational excellence along with safe mining practices and reducing total cash costs without jeopardizing gold output.

Scorpio Gold’s aggressive drilling program in 2015 successfully outlined two new production pits targeted for extraction in 2017. 2016 will be a transition year for the Company, with its focus on  increasing life of mine and building towards the future mining at Mineral Ridge.

The Company remains on target to meet its recently announced 2016 production guidance of 30,000-35,000 ounces of gold at a total cash cost of $850-$900 per ounce of gold sold.”

2015 HIGHLIGHTS

39,690 ounces of gold produced at the Mineral Ridge mine compared to 40,814 ounces during 2014.
Revenue of $44.6 million compared to $52.0 million during 2014.
Total cash cost per ounce of gold sold (1) of $781 compared to $845 during 2014.
Mine operating earnings of $7.7 million compared to $3.1 million during 2014.
Net loss of $18.0 million ($0.13 basic and diluted per share) after non-cash impairment charges of $21.9 million, compared to a net loss of $27.4 million ($0.16 basic and diluted per share) after non-cash impairment charges of $28.2 million during 2014.
Adjusted net earnings(1) of $4.6 million ($0.02 basic and diluted per share) compared to $0.3 million ($0.00 basic and diluted per share) during 2014.
Adjusted EBITDA(1) of $10.6 million ($0.05 basic and diluted per share) compared to $12.3 million ($0.06 basic and diluted per share) during 2014.
Cash flow from operating activities of $11.2 million compared to $16.2 million during 2014.
During Q1 of 2015, the Company received proceeds of $3.3 million from the sale of all the common shares of Gold Standard Ventures Corp. (“Gold Standard”) it owned and also received payment from Gold Standard of the debt represented by the CAD$2.5 million promissory note received as part of the sale to Gold Standard of the Pinon property.
On March 11, 2015, the Company’s long-term debt owing to Waterton Global Value L.P. was fully repaid.
On March 6, 2015, the Company announced a strategic financing to raise $15 million from the issuance of equity to Coral Reef Capital LLC. This financing was subsequently cancelled and as such the Company was obligated to pay a break fee of $0.5 million along with approximately $0.3 million of related due diligence and legal costs.

 
Effective July 28, 2015, the Goldwedge property was put on care and maintenance.
On August 14, 2015, the Company closed a $6 million debt financing with Waterton Precious Metals Fund II Cayman, LP.

 
(1) This is a non-IFRS measure; please see Non-IFRS performance measures section.
FOURTH QUARTER 2015 (“Q4”) HIGHLIGHTS

9,503 ounces of gold produced at the Mineral Ridge mine compared to 10,258 ounces in Q4 of 2014.
Revenue of $10.8 million in Q4 of 2015 compared to $13.4 million during Q4 of 2014.
Total cash cost per ounce of gold sold(1) of $786 in Q4 of 2015 compared to $898 during Q4 of 2014.
Mine operating earnings of $1.5 million compared to mine operating loss(1) of $0.5 million during Q4 of 2014.
Net loss of $4.7 million ($0.03 basic and diluted per share), compared to $28.7 million ($0.16 basic and diluted per share) during Q4 of 2014. During Q4 of 2015, impairments of $4.9 million were recorded on the mining assets. During Q4 of 2014, impairments of $26.9 million and $1.3 million, respectively, were recorded on the mining assets and available-for-sale investments.
Adjusted net earnings(1) of $0.7 million ($0.00 basic and diluted per share) compared to adjusted net loss(1) of $1.1 million ($0.01 basic and diluted per share) during Q4 of 2014.
Adjusted EBITDA(1) of $2.7 million ($0.01 basic and diluted per share) compared to $1.5 million ($0.01 basic and diluted per share) during Q4 of 2014.
Cash flow from operating activities of close to nil compared to $5.8 million in Q4 of 2014.
(1) This is a non-IFRS measure; refer to Non-IFRS Measures section of this press release and the Company’s Management Discussion & Analysis for a complete definition and reconciliation to the Company’s financial statements.

 
NON-IFRS MEASURES

The discussion of financial results in this press release includes reference to Adjusted net earnings (loss), Adjusted EBITDA, Total cash cost per ounce of gold sold which are non-IFRS measures. The Company provides these measures as additional information regarding the Company’s financial results and performance.

Please refer to the Company’s MD&A for the year ended December 31, 2015 for definitions of these terms and a reconciliation of these measures to reported International Financial Reporting Standards (“IFRS”) results.

About Scorpio Gold Corporation

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%).

Mineral Ridge is a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and 400 ton per day mill facility.

The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted immediately when needed.

Scorpio Gold’s President and CEO, Peter J. Hawley, P.Geo., is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Peter J. Hawley, President & CEO

Website: www.scorpiogold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Company relies on litigation protection for “forward-looking” statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration, development and exploitation of its Mineral Ridge mine, including any forecasts regarding future production or costs related thereto. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks relating to operation of a gold mine, including unanticipated changes in the mineral content of materials being mined; unanticipated changes in recovery rates; changes in project parameters; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; availability of skilled labour and the impact of labour disputes; obtaining the required permits to expand and extend mining activities; delays in obtaining governmental approvals; changes in metals prices; the availability of cash flows or financing to meet the Company’s ongoing financial obligations; unanticipated changes in key management personnel; changes in general economic conditions; other risks of the mining industry and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

Scorpio Gold Corporation

Contact
Peter J. Hawley
President & CEO
+1 819 825 7618
phawley@scorpiogold.com

www.scorpiogold.com

Cartier Resources {TSX-V: ECR} announces that their recent geophysical survey at their MacCormack property has generated two drill targets.

The MacCormack Property is situated 25 km north-north-west of the Bousquet – LaRonde mining camp area.

Cartier Resources {TSX-V: ECR} announces the results of the deep investigation OreVision geophysical survey, completed in January 2016 on the MacCormack Property, situated 25 km north-north-west of the Bousquet – LaRonde mining camp infrastructures.

The results generated two drill target zones.

Interpretation of geological and geophysical data led to the identification of a ‘graben’ type structure, that hosts the favorable features for VMS deposits.

These features are:

• Thickening (25 to 200 m) of the rhyolitic units;
• Hydrothermal alteration of the rhyolites (Ishikawa Index > 80 %);
• Presence of favorable horizons (exhalites);
• Presence of massive sulphides grading:
• 11.10% Zn, 1.23% Cu, 66.2 g/t Ag and 0.29 g/t Au / 0.4 m ;
• 11.51% Zn, 0.21% Cu, 44.2 g/t Ag and 1.98 g/t Au / 0.6 m.

A 2 000 m diamond drill program and budget was prepared to explore the new potential of this area. Interpretation of new data has also identified similar features for VMS mineralisation in the western portion of the property.

This area will be prospected over the summer  months.

Contact:

Philippe Cloutier

+1 819 856 0512

philippe.cloutier@ressourcescartier.com

www.ressourcescartier.com

Nymox Pharmaceutical Corporation {NASDAQ: NYMX} Director James Robinson bought 20,500 shares of Nymox in the market.

Robinson now holds 2.7 million shares in the company.

Nymox Pharmaceutical Corporation {NASDAQ: NYMX} Director James Robinson bought 20,500 shares of Nymox Pharmaceutical Corp stock in a transaction that occurred on Friday, April 1st.

Robinson bought the stock at an average price of $2.40 per share, with a total value of $49,200.00. Following the completion of the acquisition, the director now owns 2,701,050 shares in the company, valued at approximately $6,482,520. 

This is on the back of a recent trade where Robinson purchased 40,000 shares on march 24th 2016. Those shares were bought at an average cost of $2.29 per share, with a total value of $91,600.00.

Condor Gold {AIM: CNR} announced they have raised £2.57 million in a placing, where experienced investor Ross Beaty was the lead investor.

A fund controlled by Eric Sprott also invested in what was a much needed placing.
London, UK.

Condor Gold ({AIM: CNR} is pleased to announce a proposed placing 6,445,000 Units at a price of 40p per Unit  to raise gross proceeds of approximately GBP 2.6 million.

completion of the Placing is conditional, inter alia, upon admission of the Placing Shares to trading on AIM.

Each Unit is comprised of one ordinary share of 20p each in the Company and two thirds of one share purchase warrant of the Company (a “Warrant”). Each Warrant, which is unlisted, will entitle the holder thereof to purchase one ordinary share at a price of 60p (which is at a 50% premium to the Placing Price) for a period of 24 months from the date on which the shares issued pursuant to the Placing are admitted to trading on AIM (the “Closing Date”).

The Company is pleased to announce that Ross Beaty has subscribed for GBP 1.5 million worth of Units and will have a 7.18% shareholding in the Company post placement on an undiluted basis. The investment follows a site visit and technical due diligence. Mr Beaty is a Canadian mining entrepreneur with a successful track record of both building mining companies and developing mineral deposits for sale. The Company has agreed to a non-dilute clause for Mr Beaty’s shareholding. The Company also welcomes a specialist resource fund managed by an affiliate of Sprott Inc. as a shareholder.

Background to and reasons for the Placing

The proceeds of the Placing will be used for general working capital purposes and specifically: to fully permit Mina La India in Nicaragua, pay the remaining US$670,000 for the purchase of the Espinito-Mendoza concession, secure the surface rights for the rural land that host and surround the future mine infrastructure and continue work to demonstrate the significant exploration upside of the 2.4M oz gold resource at 4.0g/t gold at La India Project.

As a general update on ongoing work on Mina La India: the Company submitted an Environmental Impact Assessment (“EIA”) to the Ministry of the Environment in Nicaragua in November 2015, applying for the key Environmental Permit for a 2,800 tpd processing plant capable of producing approximately 100,000 oz gold per annum at an all in sustaining cash cost of approximately US$700 per oz gold.

The Nicaraguan Government remains fully supportive of permitting Mina La India. The EIA has passed the initial technical reviews, MARENA has conducted site visits and key meetings have been held with several Government Ministries. The Company has incorporated a wholly owned Nicaraguan subsidiary company to acquire the rural land; has surveyed, valued and made offers to buy the surface rights for approximately 800 hectares of the area affected by a future mine and is currently making good progress and is securing the land by making 10% down payments with the balance paid within 2 years; Condor will continue to demonstrate the significant upside potential by expanding the soil survey programmes that have covered approximately 90 sq km to date of the 313sq km La India Project, stratigraphic mapping, prospecting and structural data collection.

Details of the Placing

The Company has conducted the Placing as principal. 6,445,000 Units (comprising of 6,445,000 ordinary shares and 4,296,667 Warrants) have been placed with placees and subscribers at the Placing Price to raise gross proceeds of GBP 2,578,000.

The completion of the Placing is conditional, inter alia, upon admission of the Placing Shares to trading on AIM. The Placing Price of 40 pence per share represents a discount of zero percent to the closing price of 40 pence per share on 1st April 2016.

Application is being made for the Placing Shares, to be admitted to trading on AIM , such Admission is expected to occur on or around 15th April 2016.

On Admission the Placing Shares will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared after the date of their issue.

Following Admission the Company will then have 52,252,316 ordinary shares of 20p each in issue with voting rights and admitted to trading on AIM. This figure may then be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

Director Participation

Pursuant to the Placing, Jim Mellon, Non-Executive Director of the Company has subscribed personally for 500,000 Units at the Placing Price. Following completion of the Placing, Mr Mellon will have a direct interest in 698,820 ordinary shares and indirect interest in 522,222 ordinary shares held through Galloway Limited. Jim Mellon is the founder and a director of Regent Pacific Group, which owns 3,977,274 shares. The combined interest of 5,198,318 ordinary shares represents a 9.95% shareholding in the Company post placement on an undiluted basis. Jim Mellon will have a direct and indirect interest in 419,444 Warrants post placement.

Mark Child, Chairman and CEO of the Company has subscribed for 25,000 Units at the Placing Price. Following completion of the Placing, Mr Child will be interested in 3,967,500 ordinary shares in the Company, representing approximately 7.59% of its issued share capital as enlarged by the Placing, and will also have an interest in 16,667 Warrants.

Roger Davey, Non-Executive Director of the Company has subscribed for 20,000 Units at the Placing Price. Following completion of the Placing, Mr Davey will be interested in 52,500 ordinary shares in the Company, representing approximately 0.10% of its issued share capital as enlarged by the Placing, and will also have an interest in 13,333 Warrants.

The subscriptions by Jim Mellon, Mark Child and Roger Davey are a related party transaction under the AIM Rules and accordingly the independent directors, being Kate Harcourt and Peter Flindell, confirm that, having consulted with the Company’s Nominated Adviser, the terms of the Placing are fair and reasonable insofar as the Company’s shareholders are concerned.

For further information please visit www.condorgold.com.

About Condor Gold plc:

Condor Gold plc was admitted to AIM on 31st May 2006. The Company is a gold exploration and development company with a focus on Central America.

Condor completed a Pre-Feasibility Study (PFS) and two Preliminary Economic Assessments (PEA) on La India Project in Nicaragua in December 2014. The PFS details an open pit gold mineral reserve of 6.9M tonnes at 3.0g/t gold for 675,000 oz gold producing 80,000 oz gold p.a. for 7 years. The PEA for the open pit only scenario details 100,000 oz gold production p.a. for 8 years whereas the PEA for a combination of open pit and underground details 140,000 oz gold production p.a. for 8 years. La India Project contains a total attributable mineral resource of 18.4Mt at 3.9g/t for 2.33M oz gold and 2.68M oz silver at 6.2g/t to the CIM Code.

In El Salvador, Condor has an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua and Ravensgate and Geosure for El Salvador.
Disclaimer

Neither the contents of the Company’s website nor the contents of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into, or forms part of, this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT: Condor Gold plc Mark Child Executive Chairman and CEO +44 (0) 20 7408 1067 www.condorgold.com
SOURCE: Condor Gold PLC

Terrace Energy Corp. {TSXV: TZR} has announced restructuring plans to preserve cash and protect the prospective value of its business.

With the ongoing low oil price environment the company have moved to take positive action.

Terrace Energy announces Restructuring Plans

Vancouver, BC, March 31, 2016 – Terrace Energy Corp. {TSXV: TZR} announces the following restructuring plans to preserve cash and protect the prospective value of its business.

Dave Gibbs, the Company’s President and Chief Executive Officer, commented: “Current market conditions and the near term projected outlook for the oil and gas industry require that we take immediate steps to reduce expenditures and preserve assets so that all stakeholders have an opportunity to benefit from a future industry wide recovery.”

The Company intends to rely on a combination of capital deferrals (drilling obligations), cost reductions (G&A), and an exchange of outstanding convertible notes to preserve cash.

Deferral of Capital Obligations

The Company has been successful in pursuing a strategy of building an attractive inventory of future drilling locations with minimal near-term capital commitments in order to secure long-term opportunities.

As previously reported, the Company has successfully negotiated deferrals of drilling commitments on its STS Olmos and Maverick County Projects until late 2017, allowing it to maintain its leasehold interest of approximately 40,000 net mineral acres in these two projects. The Company will continue to pursue advantageous leasehold acquisition opportunities within its approximately 240,000 acre Area of Mutual Interest surrounding the existing STS Olmos Project.

Annual Cost Savings

The Company has taken actions that are expected to reduce its G&A budget for the current fiscal year by more than 70%, saving an estimated US$2.6 million. Most significantly, the Company has eliminated approximately 85% of its salary obligations, without having to incur any severance costs, by forming a separate consulting and contract management services company, which will compensate key technical staff and executive officers from client billings.

This allows the Company to maintain and grow industry relationships while eliminating a significant burden on the Company. The Company has also streamlined the expense of its public reporting and corporate administrative functions by reducing outside services by approximately 65%, resulting in expected annual savings of approximately US$750,000 and eliminated or reduced ancillary costs (rent, communications, etc.) by an additional US$250,000.

Proposed Exchange of Convertible Notes

The Company also plans to hold a special meeting  of holders of its 8% convertible unsecured notes (the “Existing Notes”) due in 2018. The Meeting will be held at 10:00 a.m. (Vancouver time) on May 9, 2016. At the Meeting, noteholders will be asked to consider and vote upon a resolution approving an arrangement under the Business Corporations Act (British Columbia) pursuant to which all of the Existing Notes will be exchanged for new convertible secured notes of the Company (the “New Notes”) due April 2, 2021 (the “Maturity Date”). The New Notes will be issued under a new trust indenture (the “New Indenture”).

Pursuant to the Arrangement, noteholders will receive $1,000 in principal amount of New Notes for each $1,000 principal amount of Existing Notes held by such noteholder. All interest owing to noteholders on the Existing Notes to the date of such exchange will be forgiven. While the Existing Notes are unsecured, the New Notes will be a secured obligation of the Company guaranteed by a general security agreement against all of the assets of the Company. Additionally, the New Notes will be interest free but subject to a maturity bonus equal to 5% of the aggregate total principal amount of the New Notes payable on the Maturity Date (the “Maturity Bonus”). If the New Notes are redeemed in accordance with their terms at any time within 180 days prior to the Maturity Date, one-half of the Maturity Bonus will be payable. The Maturity Bonus will be payable, at the Company’s election, in cash or through the issuance of common shares of the Company at a price equal to the volume weighted average of the Company’s common shares on its principal stock exchange for the 10 trading days prior to any such issuance. The conversion price under the New Notes will be $0.50 per share, compared to $2.00 per share under the Existing Notes.

To date, the Company has entered into voting support agreements with holders of Existing Notes representing approximately C$14.5 million (or 37%) of the outstanding principal amount of the Existing Notes, pursuant to which such noteholders have agreed to vote in favour of the Arrangement.

The Arrangement is subject to court approval and approval by both a majority in number of noteholders and noteholders representing 75% in value of the Existing Notes present, in person or by proxy, at the Meeting. The Arrangement will also be subject to customary conditions, including, among other things, the receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange and the satisfaction of other customary closing conditions.

Details regarding these and other terms of the Arrangement, the New Notes and the New Indenture will be set out in a management information circular, which will be sent to noteholders and made available under the Company’s profile at www.sedar.com prior to the Meeting.

Discussions with Secured Lender

The Company’s subsidiary, Terrace STS, LLC, is in discussions with its secured lender concerning its non-compliance with certain covenants under the credit agreement. The loan, which is only secured by the assets of Terrace STS, LLC, is non-recourse to Terrace Energy Corp. Terrace STS, LLC assets are limited to the initial 3,900 net acre STS Olmos Development Project and the associated producing wells and infrastructure. The discussions are focused on the prospect and terms of converting the outstanding loan into equity in the subsidiary. The Company will disclose additional details when these discussions are concluded.

The Company continues to believe in the strong technical merits of both the area of mutual interest surrounding its STS Olmos Project as well as its extensive Maverick County Project. Previous successful results, combined with improved capital costs, suggest that these projects may be among the earliest projects in North America to attract the required capital to resume drilling operations as commodity prices improve. The Company will continue taking prudent action, where possible, so that it may benefit from the long-term value of its assets and to pursue any and all strategic alternative project financing to enhance stakeholder value.

About Terrace Energy

Terrace Energy is an oil & gas development stage company that is focused on unconventional oil extraction in onshore areas of the United States with a particular focus on South Texas.

ON BEHALF OF THE BOARD OF DIRECTORS

“Dave Gibbs”

Dave Gibbs, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information please contact:
terrace@terraceenergy.net
www.terraceenergy.net

Inovio Pharmaceuticals {NASDAQ: INO} announced today that its Ebola vaccine, INO-4212, was safe, tolerable, and generated strong T cell and antibody responses in its fully enrolled phase I study of 75 healthy subjects.

Human immunogenicity data combined with efficacy in multiple animal species warrants further human study

 
PLYMOUTH MEETING, Pa. – Inovio Pharmaceuticals  {NASDAQ: INO} announced today that its Ebola vaccine, INO-4212, was safe, tolerable, and generated strong T cell and antibody responses in its fully enrolled phase I study of 75 healthy subjects.

Detailed immunogenicity and safety data is being prepared for peer-reviewed publication. In previously reported pre-clinical testing in mice and non-human primates, the Ebola vaccine protected 100% of immunized animals from sickness and death following exposure to a lethal dose of Ebola virus.

This human study (CT.gov: NCT02464670) was conducted by an Inovio-led consortium, which was selected and awarded $45 million by the U.S. Defense Advanced Research Projects Agency (DARPA) in 2015 to take a multi-faceted approach to prevent and treat Ebola infection.

This initial trial evaluated INO-4212 in five groups of healthy subjects. INO-4212 consists of two optimised SynCon® DNA plasmids coding for the Ebola glycoprotein antigen from circulating Ebola strains from 1975 – 2014. These plasmids were tested separately and together in muscle and skin in five study arms, one including Inovio’s DNA-based IL-12 immune activator.

Of 69 evaluated subjects, 64 (92.7%) seroconverted and mounted a strong antibody response to the Ebola glycoprotein antigen following the three dose immunization regimen; 48 subjects (69.6%) seroconverted after only two doses.

Significantly, in the study arm using intradermal (skin) administration, 13 of 13 evaluable subjects (100%) generated antigen-specific antibody responses after only two doses and all remained seropositive after three immunisations. Similarly, in the study arm receiving the vaccine with intramuscular administration in combination with plasmid IL-12, 12 of 13 evaluable subjects (92.3%) demonstrated strong antibody responses after only two immunizations and 13 of 13 (100%) produced strong antibody responses after three immunisations.

The Ebola glycoprotein specific geometric mean antibody titers measured in the five cohorts ranged from over 2,000 to greater than 46,000. Significantly, a majority of vaccinated subjects in each of the five cohorts produced strong Ebola antigen specific T-cell responses as measured by interferon gamma ELISpot analysis.

To date INO-4212 has been well tolerated and has not demonstrated systemic serious adverse effects, such as fever, joint pain, and low white blood cell counts, reported in association with some viral vector based Ebola vaccines currently in development. Moreover, unlike the viral vectored vaccines which must be kept frozen, INO-4212 was formulated in a solution which was kept refrigerated (2-8 C).

The data was presented today by Dr. Niranjan Y. Sardesai, Inovio’s Chief Operating Officer and Principal Investigator on the DARPA Ebola program, at The World Vaccine Congress in Washington, DC. Dr. Sardesai said, “The induction of strong Ebola specific antibody and T cell responses has been difficult to achieve in previous human studies. We are pleased by the immune responses achieved using two and three vaccination regimens in humans with our optimized DNA vaccines delivered using electroporation, adding to the successful animal immune response and challenge studies using our approach. We are particularly excited about the positive immunology data using intradermal immunization as this delivery would facilitate even greater clinical and commercial potential for DNA vaccination.”

“These initial data from our Ebola DNA vaccine represent just a first step in this DARPA-funded program. We look forward to rapidly moving this DNA vaccine into larger human studies on the path to product licensure. We are also advancing our Ebola dMAb™ product and expect to clinically test that independently of the DNA vaccine approach,” said Dr. J. Joseph Kim, President and CEO.

Under the DARPA-funded program Inovio and its collaborators are developing multiple approaches against Ebola. This program allows for the development and early clinical testing of: Inovio’s DNA-based vaccine against Ebola Inovio’s therapeutic Ebola dMAb™ product.

This new technology has properties best suited to respond to an Ebola outbreak in that the product could be manufactured expediently on a large scale using proven fermentation technology, is thermal-stable, and may provide more rapid therapeutic benefit (as shown in Inovio’s Chikungunya and dengue programs); and  a highly potent conventional protein-based therapeutic monoclonal antibody (mAb) product against Ebola virus infection, co-developed with MedImmune, the global biologics research & development arm of AstraZeneca.

About Inovio Pharmaceuticals, Inc.

Inovio is taking immunotherapy to the next level in the fight against cancer and infectious diseases. We are the only immunotherapy company that has reported generating T cells in vivo in high quantity that are fully functional and whose killing capacity correlates with relevant clinical outcomes with a favorable safety profile. With an expanding portfolio of immune therapies, the company is advancing a growing preclinical and clinical stage product pipeline. Partners and collaborators include MedImmune, Roche, The Wistar Institute, University of Pennsylvania, DARPA, GeneOne Life Science, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and University of Manitoba. For more information, visit www.inovio.com.

CONTACT:
Bernie Hertel

+1 858-410-3101

bhertel@inovio.com

# # # #

This press release contains certain forward-looking statements relating to our business, including our plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines, our expectations regarding our research and development programs and our capital resources. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs (including, but not limited to, the fact that pre-clinical and clinical results referenced in this release may not be indicative of results achievable in other trials or for other indications, that the studies or trials may not be successful or achieve the results desired, including safety and efficacy for VGX-3100 and INO-3112, that pre-clinical studies and clinical trials may not commence or be completed in the time periods anticipated, that results from one study may not necessarily be reflected or supported by the results of other similar studies and that results from an animal study may not be indicative of results achievable in human studies), the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA vaccines, our ability to support our broad pipeline of SynCon® active immune therapy and vaccine products, our ability to advance our portfolio of immune-oncology products independently, the ability of our collaborators to attain development and commercial milestones for products we license and product sales that will enable us to receive future payments and royalties, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by the company or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that the company and its collaborators hope to develop, our ability to enter into partnerships in conjunction with our research and development programs, evaluation of potential opportunities, issues involving product liability, issues involving patents and whether they or licenses to them will provide the company with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether the company can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of the company’s technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2015, and other regulatory filings from time to time. There can be no assurance that any product in Inovio’s pipeline will be successfully developed or manufactured, that final results of clinical studies will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate.

Kootenay Silver {TSX:V. KTN} has acquired a 2.5% net smelter return royalty (NSR) on Northair Silver’s La Cigarra project, in Chihuahua state, Mexico.

Kootenay now becomes a dominant land holder in the country.

Kootenay Silver {TSX:V. KTN} has acquired a 2.5% net smelter return royalty (NSR) on Northair Silver’s La Cigarra project, in Chihuahua state, Mexico.

Under terms of the agreement, Kootenay would buy the NSR for $250 000 in cash upon closing the deal, followed by a second cash payment of $250 000 by April 19 2016.

Kootenay will also issue to Coeur on the closing date about $2-million in shares at C$0.275 apiece. Coeur had also agreed to vote all of the shares that it held (13.55%) in Northair in support of the acquisition arrangement between Kootenay Silver and Northair, positioning Kootenay as a dominant land-holder in the country.

The combined company’s portfolio of projects will comprise its Promontorio and La Negra projects, as well as Northair’s La Cigarra project, plus exposure to a series of grassroots pipeline exploration projects, royalty interests and joint ventures.

Kootenay has a strong balance sheet, providing the combined company with a stable platform for future consolidation in the sector.

Under terms of the agreement, Northair shareholders would receive 0.35 of a Kootenay common share, as well as 0.15 of a warrant to buy a Kootenay share at a strike price of $0.55 each, for a period of five years from closing. Upon closing the deal, Northair would become a wholly owned subsidiary of Kootenay and former shareholders of Northair would hold about 40% of Kootenay shares on an outstanding shares basis.

For more information please visit www.inovio.com

Zenyatta Ventures {TSX.V: ZEN} and Ballard Power Systems {TSX: BLD} have announced a successful performance testing of Albany Pure Graphite.

The phase 4 test was performed on a Ballard fuel cell stack.

March 29, 2016 13:15 ET

Zenyatta & Ballard Power Systems Achieve Success on Performance Testing Using Natural Albany Graphite Versus Synthetic Graphite in a Fuel Cell Stack.

WesternZagros {TSX: WZR} have announced a corporate update, and prudent cost saving measures.

The savings include the closure of offices in Iraqi Kurdistan.

WesternZagros announces corporate update,  closes Kurdistan offices

Mr. Simon Hatfield reports

WesternZagros Resources  {TSX: WZR} has made organizational changes to further reduce costs and refocus the company as a co-venturer in the development of its Garmian and Kurdamir blocks in the Kurdistan region of northern Iraq.

The company has closed its offices in the Kurdistan region but will continue its support and oversight of the operator’s activities on both blocks.

In addition the company has completed a further reduction of its work force in Calgary. As part of these changes Michael Tinkler, vice-president of exploration and reservoir development, and Bill Jack, vice-president and general manager, Kurdistan, have left the company.

“Michael and Bill have been important members of our company’s management and, on behalf of the entire WesternZagros organization, I want to thank them for their years of service. We wish them well with their future endeavours,” said Simon Hatfield, WesternZagros’s chief executive officer.

Also, as part of the organizational changes, Grant Harms, general manager, operations, and Bruce Garland, managing director, drilling and completions, have joined the senior management team.

Mr. Harms joined WesternZagros in Calgary in November, 2014. He is a senior petroleum operations and business development leader with over 30 years of experience in projects worldwide.

His previous experience encompasses technical, managerial and executive positions with international and domestic companies including PanCanadian Petroleum, Murphy Oil, Koch Exploration Canada and Hurricane Hydrocarbons. Prior to joining WesternZagros, his most recent role was country manager for Niko Resources in the Kurdistan region of Iraq. Mr. Harms is a professional engineer in Alberta and holds a bachelor of applied science in mechanical engineering from the University of Waterloo.

Mr. Garland returned to WesternZagros in November, 2015. He leads the drilling and completions function and brings more than 30 years of international petroleum industry experience that includes technical and managerial positions with Nexen Petroleum Inc., Fletcher Challenge Energy and Phillips Petroleum. Mr. Garland holds a bachelor of engineering (mechanical) from Canterbury University, New Zealand.

Minera IRL have finally released their June 2015 interim financial statements, Aappointed an experienced non exec director, and announced the resignation of their COO.

This completes the purge of those directors involved in the corporate shenanigans in recent months, resulting in Minera being delisted from AIM.

Minera IRL Limited: Release of June 2015 Interim Financial Statements, Appointment of

Non-Executive Director and Resignation of Chief Operating Officer
LIMA, PERU- March 28, 2016 – Minera IRL Ltd. {BVLAC: MIRL} is pleased to announce the release of its delayed June 2015 interim financial statements, and the appointment of Mr. Francis O’Kelly as a non-executive director of the Company with immediate effect. The company also announces the resignation of its Chief Operating Officer, Mr. Eric Olson.

Financial Statements

As reported previously, completion of the June 2015 interim financial statements was delayed because of uncertainty about the costs of eventual closure of the Corihuarmi mine in Peru, and related matters. An international consulting engineering firm retained by the board to review these matters has completed its work and issued its report, and the findings have been reflected in the June 2015 interim financial statements.

These statements will be released today and posted to the company’s website at www.minera-irl.com and within the Company’s SEDAR profile at www.sedar.com

Directors and Officers

Mr. O’Kelly has an extensive background in Mining and Mining Finance. In his early career he worked in mines in Central and South America initially as a shift boss and ultimately as manager of a large gold mine.

He then transferred to the banking sector and was appointed VP Mining at J P Morgan. He subsequently co-managed a mining investment house and ultimately worked on M&A mining projects for Standard Bank.

He currently runs his own company dedicated to consulting to the mining sector. Mr. O’Kelly holds an honors degree in Mining Engineering awarded by the Royal School of Mines, Imperial College. He is a fellow of the Institute of Mining & Metallurgy, Chartered Engineer and Associate of the RSM.

In addition, the company reports that the Chief Operating Officer, Mr. Eric Olson, has tendered his resignation with effect from 31 March 2016. The board wishes to thank Mr. Olson for his valuable contribution during his time with the company. The board is in the process of considering candidates to fill this role and other senior roles in the company.

Appendix: Francis Sidney O’Kelly

In terms of the appointment of Mr. Francis Sidney O’Kelly (aged 74) to the Board, current and past directorships held are as follows:

Current  directorships / partnerships:
Minera Valle Central
Buena Vista Gold
Los Andes Copper
Past directorships /  partnerships:
Alamos Gold
Campbell Resources
Glamis Gold
Minera IRL (Argentina)
Rayrock Resources
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

Cautionary Statement on Forward-Looking Information

Certain information in this news release, including information about the Company’s financial or operating performance and other statements expressing management’s expectations or estimates of future events, performance and exploration and development programs or plans constitute “forward-looking statements”. Forward-looking statements often, but not always, are identified by words such as “seek”, “believe”, “expect”, “do not expect”, “will”, “will not”, “intend”, “estimate”, “anticipate”, “plan”, “schedule” and similar expressions of a conditional or future oriented nature identify forward-looking statements. Forward-looking statements are, necessarily, based upon a number of estimates and assumptions. While considered by management to be reasonable in the context in which they are made, forward-looking statements are inherently subject to political, legal, regulatory, business and economic risks and competitive uncertainties and contingencies. The Company cautions readers that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Minera IRL’s actual financial results, future performance and results of exploration and development programs and plans to be materially different than those expected or estimated future results, performance or achievements and that forward-looking statements are not guarantees of future performance, results or achievements.

Forward-looking statements are made as of the date of this news release and Minera IRL assumes no obligation, except as may be required by law, to update or revise them to reflect new events or circumstances. Risks, uncertainties and contingencies and other factors that might cause actual performance to differ from forward-looking statements include, but are not limited to, any failure to obtain or complete project financing for the Ollachea Gold Project (including the Senior Debt Facility), changes in the price of precious metals and commodities, changes in the relative exchange rates of the US dollar against the Peruvian nuevo sol, interest rates, legislative, political, social or economic developments both within the countries in which the Company operates and in general, contests over title to property, the speculative nature of mineral exploration and development, operating or technical difficulties in connection with the Company’s development or exploration programs, increasing costs as a result of inflation or scarcity of human resources and input materials or equipment. Known and unknown risks inherent in the mining business include potential uncertainties related to the title of mineral claims, the accuracy of mineral reserve and resource estimates, metallurgical recoveries, capital and operating costs and the future  demand for minerals. For additional information, please consult the Company’s most recently filed MD&A and Annual Information Form.

For further information please contact:

Minera IRL Limited
Robin Fryer
Director

+1 416 907 7363