EMG Emergeo Solutions Worldwide Inc.

Ivernia Inc. ("Ivernia" or the "Company") (TSX:IVW) earlier today announced that
the Company and its wholly owned, Rosslyn Hill Mining Pty Ltd. ("RHMPL")
subsidiary have entered into management services agreements with Enirgi Group
Corporation ("Enirgi Group") and its wholly owned affiliate Enirgi Metal Group
Pty Ltd. ("EMG"), respectively. Enirgi Group is the Company's majority
shareholder holding approximately 58.9% of Ivernia's shares. As part of those
restructuring initiatives within the Company, the current President and CEO,
Alan De'ath, will be taking early retirement from the Company and stepping down
from the Board of Directors on December 28, 2012. Wayne Richardson, a current
member of the Board of Directors and the President and CEO of Enirgi Group, has
today been appointed President and CEO of Ivernia with effect from December 28,
2012.


Mr. Richardson has wide ranging experience in the lead industry and has had a
career in strategic business development at the senior management level in
domestic and international markets. Mr. Richardson joined the board of Ivernia
in March 2012 and has been a member of the Board of Directors of Ivernia's
wholly-owned subsidiary, Rosslyn Hill Mining Pty Ltd. since October 2010 and the
Chairman since January 2012.


Following 12 years as a senior executive with the company, nearly 10 years of
which have been as President and CEO, Alan De'ath will receive a staged
retirement package consistent with his employment agreement, but will continue
to be a part-time resource to Ivernia as an independent consultant to the
Company over the next 3 years.


The Honorable J. Trevor Eyton, Chairman of Ivernia commented, "On behalf of the
Board, I would like to thank Alan for his years of service and his significant
contributions during that period. Alan leaves at a time when the Company and
Alan, working together with Enirgi, have overcome a number of key obstacles to
the restart of operations. We are excited for the future under Wayne's capable
leadership."


Following the appointment of Mr. Richardson, his focus will be on returning
RHMPL's operations to sustainable operations which remains on schedule for the
second quarter of 2013, streamlining the management of RHMPL and EMG and
securing the financing required for the restart of RHMPL's operations.


As previously announced, the Company will require additional financing to
underwrite the restart of operations. The funding requirements are estimated to
be in the range of $20 million. The team has advanced discussions with potential
lenders to provide a debt funding solution that supports the objective of
minimizing equity dilution.


Mr. Richardson, President and CEO of Ivernia, commented: "We remain on track to
deliver a sustainable restart of RHMPL's operations in the second quarter of
2013. The streamlining of the company's management teams and operations is
expected to deliver cost savings while providing improved access to skills and
systems. I have been working closely with the CFO to advance the debt funding
solutions and I remain committed to the objective I set out at the last annual
general meeting; namely re-establishing value for all of Ivernia's
shareholders."


About Ivernia

Ivernia is an international base metal mining company and the owner of the Paroo
Station lead mine, located in Western Australia.


Ivernia trades under the symbol "IVW" on the Toronto Stock Exchange. Additional
information on Ivernia is available on the Company's website at www.ivernia.com
and at SEDAR at www.sedar.com.


Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking
information within the meaning of securities laws. All statements included
herein (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 direct and indirect cost savings from the management service agreements with
Enirgi Group, the decision to restart and timing of the restart of operations,
the financing requirements to restart the Mine, the cost and timing for
completion of capital projects prior to restart, the timing of any steps
required under the Operating Conditions before the end of the suspension of the
Company's transportation of lead carbonate from the Mine, the Company's ability
to comply with the new Operating Conditions, the duration of the period of care
and maintenance commenced in April 2011 and the commencement of transportation
of lead carbonate concentrate from the Mine, future targets and estimates for
production, capital expenditures, operating costs, cash costs, mineral
resources, mineral reserves, life of mine, 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,
lead market outlook 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 duration of the
suspension of the Company's transportation of lead carbonate from the Mine, the
duration of the period of care and maintenance commenced in April 2011, the
timing, need and ability to raise additional financing, risks relating to the
operations being placed on care and maintenance, matters relating the restart of
mining and milling operations, matters relating to ramping up mining and milling
throughput and operations, regulatory compliance and approvals, metal price
volatility, lead carbonate concentrate treatment charges, exchange rates,
regulatory proceedings and litigation, the fact that the Company has a single
mineral property, resources and reserves, health and safety, environmental
factors, mining risks, metallurgy, labour and employment regulations, government
regulations, insurance, dependence on key personnel, constraints on cash flow,
the nature of mineral exploration and development, matters relating generally to
the transportation of lead carbonate, presence of a majority shareholder,
matters related to public opinion, matters related to the Esperance settlement
and shipments through the Port of Fremantle, and common share price volatility
and the dilution of the Company's common shares. Additional factors and
considerations are discussed in the Company's 2011 AIF under "Description of the
Business of the Company - Risk Factors" and elsewhere in this news release and
in other documents filed from time to time by Ivernia with Canadian securities
regulatory authorities. While Ivernia considers these assumptions to be
reasonable based on information currently available to it, 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. Undue importance should not be placed
on forward-looking information nor should reliance be placed upon this
information as of any other date. Except as required by law, while it may elect
to, Ivernia is under no obligation and does not undertake to update this
information at any particular time.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ivernia Inc.
Brent Omland
Vice President, Finance & Chief Financial Officer
(416) 867-9298
investor@ivernia.ca
www.ivernia.com

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