Don Nicolas

In late 2009 Minera IRL Limited completed the take-over of Hidefield Gold Plc.  This transaction enabled Minera IRL to acquire the Don Nicolas Project and an extensive exploration tenement package totaling some 2,700 square kilometers in the Patagonia region of Argentina.

The assets of Minera IRL Patagonia are located within a large geological complex known as the Deseado Massif.  This geological formation hosts many new high sulfidization, epithermal gold deposits and is a significant emerging precious metals district.

The Don Nicolas Project is based upon resources in two districts, La Paloma and Martinetas, and is currently in the feasibility study stage which is expected to be completed during the fourth quarter of 2011.  In August 2011 an updated NI43-101 compliant was released.  This resource contains a Measured and Indicated resource of 381,000 ounces of gold plus an Inferred resource of 145,000 ounces of gold.  With the updated resource in hand, the feasibility program includes mine design and production scheduling, metallurgical testing, infrastructure studies, environmental studies and capital and operating cost projections.  The objective is to construct and commission a new gold mine in 2013.