GSR Goldstrike Resources Ltd New

All dollar amounts in this release are expressed in Canadian Dollars

Ivernia Inc. (TSX:IVW) ("Ivernia" or the "Company") today announced that it has
closed its previously announced financing with Green SEA Resources Inc. ("GSR"),
pursuant to which GSR purchased 67,570,000 Ivernia common shares ("Common
Shares"), and an additional investor purchased 1,800,000 Common Shares at a
price of $0.085 per Common Share (the "Offering"). The Company received
approximately $5.9 million in net proceeds. The Offering was completed by way of
a non-brokered private placement. 


As described in the Company press release dated November 21, 2011, the proceeds
of the Offering will be used to strengthen Ivernia's financial position
generally and specifically to provide working capital to fund the care and
maintenance period at the Magellan Mine.


GSR is a private Canadian company wholly owned within the Sentient Group of
Global Resource Funds. Following the closing of this financing GSR currently
holds, to the best of management's knowledge, 438,888,610 Common Shares, or
approximately 58.9% of Ivernia's outstanding Common Shares.


About Ivernia:

Ivernia is an international base metal mining company and the owner of the
Magellan Mine, located in Western Australia.


Ivernia trades under the symbol "IVW" on the TSX. 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, the duration of the suspension of the
Company's transportation of lead carbonate from the Magellan Mine, the duration
of the care and maintenance period of the Magellan Mine 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
duration of the suspension of the transportation of lead carbonate, the duration
of the care and maintenance period, regulatory compliance and approvals, matters
relating to ramping up mining and milling throughput and operations, 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 related to the order
to cease transport of lead concentrate and matters relating generally to the
transportation of lead carbonate; matters related to the Esperance settlement
and shipments through the Port of Fremantle; implications stemming from the
Esperance inquiry; and common share price volatility and the dilution of the
Company's common shares. 

Additional factors are discussed in the Company's Annual Information Form dated
as of March 30, 2011 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.

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