Ivernia Inc IVWFF

RE: RE: Offer of 15 cents a share for IVW

[99921]

From IVW Website:

IVERNIA COMMENTS ON UNSOLICITED TAKE-OVER PROPOSAL 

Toronto – March 25, 2009 - Ivernia Inc. (TSX: IVW) Ivernia announces that it is aware of the
press release issued on March 24, 2009 by Griffin Mining Limited indicating it proposes to make
an unsolicited take-over bid for all of the shares of Ivernia. Ivernia has no further information
other than what is contained in the press release.  The Board of Directors of Ivernia, consistent
with its fiduciary duties and in consultation with its independent financial and legal advisors, will
consider and evaluate the proposal and will pursue the course of action that is in the best
interests of Ivernia and its shareholders. In the interim, Ivernia shareholders are advised to take
no action with respect to this matter.

On March 20, 2009 Ivernia announced it had entered into binding commitments with respect to
a recapitalization proposal under which it intends to amend and restate its existing senior
secured promissory notes and issue additional new notes on similar terms with the first tranche
scheduled to close on Friday March 27, 2009.

RBC Capital Markets and Stikeman Elliott are Ivernia’s financial and legal advisors,
respectively.

About Ivernia

Ivernia is an international base metals operating, development and exploration company.  The
Company is the sole owner and operator of the Magellan lead mine in Western Australia. When
operations resume and target production levels are achieved, the mine is expected to be a
significant pure lead producer accounting for approximately 2% of the total world lead mine
production. 

Ivernia trades under the symbol “IVW” on the Toronto Stock Exchange. 


For further information please contact: 
Ivernia Inc.     
Ann Candelario
Director Investor Relations & Corporate Communications
Tel: [phone]   E-mail: [e-mail]