MTOUCH MT2002 - Failed to resolve "System.Type System.Reflection.Emit.TypeBuilder::CreateType()"

I have a Xamarin iOS project setup with a PCL and when running using the simulators, it works fine, when I try to build using Release configuration, I get this error. I have gone through my references and can't seem to figure out where this is being used.
Ideas anyone?? This would be of great help

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