Minera IRL Limited Updates Shareholders on Audit Progress

Minera IRL Limited Provides Update on Key Corporate Activities

Minera IRL Limited, recognized by stock tickers such as CNSX:MIRL and Lima:MIRL, is taking proactive steps towards completing its necessary annual filing obligations. The company has issued an update regarding its ongoing audit process and the measures being put in place to finalize the 2024 audit along with its annual consolidated financial statements.

New Auditors Make Headway

Following the appointment of Davidson & Company LLP as its new auditors during the previous Annual General Meeting, Minera is now engaged in a comprehensive audit process. This involves a detailed review of financial activities, particularly considering the interconnected operations involving their subsidiaries located in Peru. The process demands close collaboration to synchronize audit procedures across the Canadian and Peruvian teams.

Addressing Previous Concerns

A notable part of the audit task is to address the disclaimer of opinion that was provided by the company's previous auditors concerning the 2023 annual consolidated financial statements. Davidson's re-audit aims to clarify these issues and reinforce the credibility of Minera's financial data, which aligns with the requirements outlined in the National Instrument 52-107 concerning Acceptable Accounting Principles and Auditing Standards. This diligent re-evaluation underscores Minera’s commitment to maintaining transparency as it engages with potential investors, especially regarding its flagship Ollachea Gold Project.

Challenges and Commitment

Despite efforts to meet the originally set deadline of March 31, 2025, the auditing process has encountered unexpected delays. Throughout these hurdles, Minera IRL has ensured ongoing communication with the British Columbia Securities Commission regarding the issuance of a Failure to File Cease Trade Order (FFCTO) initiated on April 4, 2025. This is a standard regulatory mechanism following delays in filings.

Future Outlook for Annual Filings

Minera IRL is dedicated to completing its audit and filing requirements as swiftly as possible. The company is optimistic about being able to fulfill its Annual Filings before the end of April 2025. Shareholders are being reassured that there are no underlying operational issues affecting the company's performance—confirmation that will be critical once the necessary filings are submitted and the FFCTO is lifted.

Leadership Communication

Gerardo Pérez, Executive Chairman, and Diego Benavides, CEO and Director, extend their gratitude to stakeholders for their continued patience and support during this ongoing process.

Contact Information for Shareholder Queries

For further inquiries, shareholders may reach out to:

Minera IRL Limited

Susan Gabbie
Manager, Communications
+51 1 418 - 1230

Pedro Valdez
Head of Investor Relations
+51 1 418 - 1230

Frequently Asked Questions

What is the current status of Minera IRL's audit?

Minera IRL is in the process of completing its audit with new auditors Davidson & Company, facing some delays but aiming to finish by the end of April 2025.

Who are the new auditors appointed by Minera IRL?

Davidson & Company LLP has been appointed as the new auditors following the last Annual General Meeting.

What is the purpose of the Failure to File Cease Trade Order?

The FFCTO is a regulatory action taken due to delays in filing required documents, which Minera is addressing by completing their audit.

When can shareholders expect the Annual Filings to be submitted?

Minera anticipates that the Annual Filings will be completed on or before April 30, 2025.

Is there any impact on Minera IRL’s operations?

No, the company reassures shareholders that there are no operational issues impacting their performance.

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