ECHO.L Regulatory News (ECHO)

Independent Resources plc

("Independent Resources" or the "Company")

Update re Loan Facility and Loan Note Settlement

Further to the announcement on 29 September 2016, Independent Resources (AIM: IRG) is pleased to confirm it has received £160,000 cash as per the loan agreement with Brandon Hill Capital.

The Company is also pleased to announce that having reached an agreement with TransGlobe Petroleum International Inc. ("TransGlobe") concerning the early repayment of the US$2.5 million loan note, as outlined in the announcement on 28 September 2016, it has paid US$100,000 to TransGlobe for full and final settlement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information, please visit www.ir-plc.com or contact: