Ivernia Announces the Appointment of Alan You Lee as Chief Financial Officer


TORONTO, June 6, 2014 (GLOBE NEWSWIRE) -- Ivernia Inc. ("Ivernia" or the "Company") (TSX:IVW) is pleased to announce that Alan You Lee will become Chief Financial Officer of the Company following Tuesday's annual meeting of shareholders.

Mr. You Lee is currently the Chief Financial Officer of Enirgi Group Corporation ("Enirgi Group"), the Company's majority shareholder, and is joining Ivernia following his recent relocation to Toronto from Sydney, Australia. Under the management services agreement between the Company and Enirgi Group, Enirgi Group provides key executive officers to Ivernia.

Mr. Stephen Pike, who has served as Interim CFO since September 2013, will step down on June 10, 2014 to pursue a new role within Enirgi Group but will remain available to the Company to assist with the transition of the finance functions.

The Honorable J. Trevor Eyton, Chairman of Ivernia, commented "On behalf of Ivernia and the Board I would like to thank Stephen for stepping into the role as Interim CFO when he was called upon and we thank him for his dedication to the Company over the past 10 months. We are also pleased to welcome Alan You Lee to the Company. Mr. You Lee has extensive CFO experience and will be a great addition to Ivernia's Executive Management team."

Alan You Lee brings a wealth of experience in financial leadership roles. Mr. You Lee has been with Enirgi Group and its subsidiaries for over five years. Before joining Enirgi Group he was CFO of a leading Australian Bank's private equity division and real estate division. He has also served as CFO and General Manager, Finance, for a number of other international firms.

About Ivernia

Ivernia is an international base metal mining company and the owner of the Paroo Station Mine, located in Western Australia. Ivernia trades under the symbol "IVW" on the Toronto Stock Exchange. Ivernia and its mining operations operate under a management services arrangement with Enirgi Group Corporation, Ivernia's majority shareholder.

Additional information on Ivernia is available on the Company's website at www.ivernia.com and at SEDAR at www.sedar.com.

For further information please contact: Ivernia Inc. Jessica Helm VP, Corporate Communications Enirgi Group Corporation Suite 3001, 1 Adelaide Street East Toronto, Ontario M5C 2V9 (416) 365-2783