Certain statements contained in this document constitute forward-looking information within the meaning of securities laws. All statements
included in this document (other than statements of historical facts) which address activities, events or developments that management
anticipates will or may occur in the future are forward-looking statements, including statements as to the following: the duration of the
suspension of the Company’s mining and milling operations, the proposal to ship lead concentrate through the Port of Fremantle, the
implications of the government of Western Australia’s continuing investigations into the matters resulting in the suspension of mining
operations, the possibility of legal or regulatory action (and any resulting costs or liabilities) which may be taken in connection with the
matters being investigated, the estimated timing of the receipt of required regulatory approvals to ship the stranded lead concentrate at
the Port of Esperance and recommence lead shipments from the Magellan mine, future targets and estimates for production, capital
expenditures, operating costs, cash costs, mineral resources and ore reserves, recovery rates, grades and prices; business strategies
and measures to implement such strategies; competitive strengths; estimated goals and plans for Ivernia’s future business operations;
and other such matters. Forward-looking statements are often, but not always, identified by the use of words such as ‘‘seek’’,
‘‘anticipate’’, ‘‘contemplate’’, ‘‘target’’, ‘‘believe’’, ‘‘plan’’, ‘‘estimate’’, ‘‘expect’’, and ‘‘intend’’ and statements that an event or result ‘‘may’’,
‘‘will’’, ‘‘can’’, ‘‘should’’, ‘‘could’’ or ‘‘might’’ occur or be achieved and other similar expressions. These statements are based upon certain
reasonable factors, assumptions and analyses made by management in light of its experience and perception of historical trends, current
conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances.
However, whether actual results and developments will conform with management’s expectations is subject to a number of risks and
uncertainties, including factors underlying management’s assumptions such as; the results of the Australian government’s continuing
investigations into lead contamination at the Port of Esperance, the timing of the receipt of final regulatory approvals required to ship lead
concentrate through the Port of Fremantle, the duration of the suspension of mining and milling operations, metal price volatility, lead
concentrate treatment charges, exchange rates, regulatory proceeding and litigation, single mineral property, resources and reserves,
health and safety, environmental factors, mining risks, metallurgy, labour and employment regulations, government regulations,
insurance, refinancing risk, dependence on key personnel, constraints on cash flow and nature of mineral exploration and development.
While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.
These factors may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements,
and there can be no assurance that the actual results or developments anticipated by management will be realized or, even if
substantially realized, that they will have the expected results on the Company. Other risks and factors that could cause actual results to
differ are described in Management’s Discussion and Analysis (“MD&A”) for the most recently completed year end under the heading
“Risks and Uncertainties”, and in the Company’s most recently filed Annual Information Form under the heading “Risk Factors”. Our
MD&A, Annual Information Form and additional information on Ivernia are available on the Company's website at www.ivernia.com and
on Ivernia’s SEDAR profile at www.sedar.com. All of the forward-looking statements made in this document are based on our current
estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance
on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no
obligation and do not undertake to update this information at any particular time.