The 75,000 square kilometer Deseado Massif in Argentina’s southern Patagonia region continues to emerge as a world class gold and silver district with new projects under development, recent new discoveries and very active exploration.  Exploration and mining in the Deseado Massif is strongly supported by the Santa Cruz provincial government.

Minera IRL Patagonia holds the third largest tenement package in the Deseado Massif. This package of ground, totaling some 256,000 hectares, is host to the Company’s Don Nicolas Project with a resource of over 350,000 ounces of gold, and numerous exploration prospects.  Minera IRL’s comprehensive exploration program is aimed at discovering major new gold deposits. 

Exploration targets include both “Brownfield”, which are close to known deposits, and “Greenfield” which are new, untested opportunities.  Targets include bulk tonnage occurrences associated with major breccia, stockwork or rhyolite dome contacts and low sulfidization epithermal vein occurrences.

Exploration near known deposits with a resource inventory includes the Sulfuro Vein and the Martinetas vein and stockwork deposits.  The objectives in these areas are to discover major extensions, repeats or associated mineralization.

Exploration projects yet to be tested by drilling include Escondido, Pan de Azucar and Michelle.  Escondido is 
contiguous to the Las Calandrias discovery announced by Mariana Resources.  Geological mapping has indentified a 700 meter long by plus 100 meter wide breccia zone in which surface samples have returned assay values as high as 13 g/t gold and 155 g/t silver.  Both airborne magnetic and chargeability/resistivity geophysical anomalies have been identified.  Scout drill testing is pending.

At Pan de Azucar, a 1,300 meter outcropping epithermal vein structure has returned gold values up to 54 g/t and silver values to 22 g/t.  An envelope of gold anomalous breccia surrounding the vein outcrop has been mapped over a 300 meter strike.  Scout drilling is planned before the end of 2010.

The Michelle property is along strike from the veins of Anglo American’s Cerro Vanguardia Gold Mine, the largest gold producer in southern Argentina. 
Generative work is continuing to define new targets.  This included a 4,500 line kilometer helicopter air borne magnetic geophysical survey of four active project areas which was completed in July 2010.