Star Metro - Irving Resources Reports on Drilling in Yamagano Mining Right at the Yamagano Joint Venture, Kyushu, Japan

Yamagano JV is a joint venture between Newmont Overseas Exploration Limited ("Newmont"), a wholly-owned subsidiary of Newmont Corporation, Sumitomo Corporation ("Sumitomo") and Irving. The initial and current interests of the parties in the joint venture are Newmont, 60%, Sumitomo, 12.5%, and Irving, 27.5%.

Drilling on the Shimadzu Mining Right

In connection with the option agreement executed between Irving and Shimadzu Ltd.*, drilling within the Yamagano MR held by Shimadzu has the potential to become an added component of the Yamagano Project. The Yamagano JV operating committee decided to initiate a drilling program in mid-2026 after issuance of the required permit and other technical reviews.

The approximately 400-year history of past gold production at the closed Yamagano Gold Mine has taken place entirely within the Shimadzu-held Yamagano MR. Nearly 50 mineralized veins were identified historically within the lease area**(Fig. 1). Irving's view is that only a limited number of these veins have been systematically developed. In the northern part of the broader Yamagano vein system, little formal mining has been conducted historically.

The first drill hole has been completed and a second hole is now in progress in the Yamagano MR (Fig. 1). Drilling of 26YY-001 (length 699.7 m; azimuth 357°; dip −45°) commenced on June 10 and was completed on September 28. Assay results are currently pending. Drilling of 26YY-002 (planned length 800 m; azimuth 175°; dip −55°) commenced on October 27.

Very little exploration drilling has historically been conducted within the Yamagano MR. These two holes target potential mineralization beneath the Post-Mineralization Hokusatsu Younger Andesite and along the eastern extension of the known mineralized veins (Fig. 2), with the aim of assessing previously unrecognized mineralization.

Drill sites were selected in light of the Yamagano Project's exploration standards of lying on the margins of, or within areas characterized by high to moderate resistivity identified by AMT, low to moderate magnetic intensity, and elevated gravity (Fig. 3, 4, 5). To date, government approval has been obtained for up to six drill pads and eight drill holes within the Yamagano MR.

*Irving Resources Press Release, September 28, 2020

**Takashima, K. and Takase, H. (1951) Survey report of the Yamagano gold-silver deposit, Kagoshima. Bulletin of the Geological Survey of Japan, pp. 479-486.

Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and a director of Irving and has verified the data disclosed through review of photographs of core prior to and after sawing and sampling, and analytical, through review of standard and blank analyses.

About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving resulted from completion of a plan of arrangement involving Irving, Gold Canyon Resources Inc. and First Mining Finance Corp. Additional information can be found on the Company's website: www.IRVresources.com.

Akiko Levinson,
President, CEO & Director

For further information, please contact:

Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 971-0209
[email protected]

Forward-looking information

Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation including, without limitation, statements as to planned exploration activities. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry, the funding of planned drilling and other exploration activities, as well as the performance of services by third parties.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE

Figure 1

Plan view of the Shimadzu's Yamagano Mining Right in southwestern Japan, showing projected drill traces (blue), historical old tunnels (green), and mineralized veins (red) that were described by Takashima and Takase 1951.

Figure 2

Simplified areal geology superimposed to Figure 1.

Late Miocene to Pliocene Hokusatsu Older Andesite (OA1, deep green), the oldest unit in the area, is main vein host rock and pre-mineral lithological unit.

Pliocene Nagano Formation (NA1, pale blue), lacustrine sediments covers OA1 and considered to pre- or syn mineral lithological unit.

Post mineral Early Pleistocene Hokusatsu Younger Andesite (YA1, light green) covers both OA1 and NA1 and widely distributes the Eastern extension of mineralized vein system.

Figure 3

AMT resistivity map at -300m elevation depth slice superimposed to Figure 1.

Figure 4

Magnetic susceptibility map reduced to pole, superimposed to Figure 1.

Figure 5

Bouguer gravity map superimposed to Figure 1.

SOURCE: Irving Resources Inc

View the original press release on ACCESS Newswire

N.Fournier--SMC