News

Irving Resources Updates Omu Exploration; Appoints Project Manager

Vancouver, British Columbia, August 15, 2019 (Globe Newswire) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to provide an update on exploration activities at its 100% controlled Omu Gold Project, Hokkaido, Japan and welcomes Dr. Takeshi Uemoto as its new Omu Project Manager.

Appointment of Dr. Takeshi Uemoto:

Dr. Uemoto holds a B.Sc. and M.Sc. from Hiroshima University and a Ph.D. from the University of Western Australia. Prior to joining Irving, Dr. Uemoto worked as senior exploration geologist for Gold Fields Australasia at its St. Ives and Agnew gold mines, Western Australia. Prior to that, he served as senior geologist for Mitsubishi Materials Corporation exploring for geothermal resources in Japan.

“We are delighted to have Dr. Takeshi Uemoto join Irving as Omu Project Manager,” commented Akiko Levinson, President and Director of Irving Resources. “Dr. Uemoto, having extensive exploration experience with Gold Fields Australasia, is exceptionally well-qualified to oversee exploration activities at Omu. We look forward to his guidance as we move this exciting project forward.”

Omu Sinter Drilling:

• Irving recently completed hole 19OMS-008, the southern-most hole of its initial eight-hole, phase one diamond drill program at Omu Sinter. These first eight holes, collectively totaling approximately 3,388.5 m, test approximately one kilometer of strike from north to south along the very large zone of alteration and mineralization underlying the Omu Sinter terrace (Figures 1 and 2).
• All eight drill holes have intersected long intervals of highly altered volcanic and sedimentary rocks. Notable vein intervals have been intersected in all holes.
• Sawing of all core has recently been completed. Several batches of samples are currently being dispatched to or are currently in transit from Omu to ALS Global Laboratory, Brisbane, Australia, and several additional batches are currently undergoing analysis. At present, approximately 40% of core has been assayed.
• As discussed in the Company’s news release dated June 13, 2019, current drilling is believed to be testing a high level within the hot spring system at Omu Sinter. Nevertheless, high-grade mineralization has already been encountered (48.96 gpt Au and 945.4 gpt Ag between 184.93-185.72 m in hole 19OMS-002 discussed in the Company’s news release dated May 6, 2019). Although a majority of phase one core has yet to be assayed, recent notable intervals include 12.92 gpt Au and 44.1 gpt Ag between 308.27-310.3 m in hole 19OMS-005 (Figure 3), 3.65 gpt Au and 27.5 gpt Ag between 356.1-357.4 m in hole 19OMS-003, and 2.34 gpt Au and 34.5 gpt Ag between 311.3-311.7 m in hole 19OMS-004. (The foregoing are not necessarily indicative or representative of mineralization hosted at Omu Sinter.)
• Geophysical surveys designed to help elucidate subsurface geology have been completed at Omu Sinter. These include a twelve-line controlled source audio-magnetotellurics (“CSAMT”) and audio-magnetotellurics (“AMT”) survey to look for structures and silicified rocks and a detailed gravity survey to help identify significant cross structures that might host vein mineralization but were not necessarily tested by phase one drill holes,. Interpretation of this data is expected to be complete by late August at which time it will be presented to the public along with future drill targets to be tested.
• Additional core drilling supplies, including large-diameter PQ drill pipe, is currently en route to Japan. The Company believes PQ drilling will enable deeper targets to be adequately tested and also enable better core recovery from future shallow drill targets including those at Omui mine site. Drilling is planned to resume in September once equipment is on site.

Omui Mine Site Exploration Program:

• Exploration trenching recently commenced at Omui mine site. Prior to the onset of recent heavy rains, three north-south oriented trenches totaling approximately 200 m length were dug across the Honpi target area. The weathering profile has proved to be thicker than anticipated being over three meters deep in places (Figure 4). This has made gaining exposure of bedrock challenging in certain areas. Mapping and sampling of the initial three trenches is complete.
• Several in situ veins, all generally trending east-west, have been encountered including an approximately 1.5 m wide extension of the N. Honpi vein (Figure 5) situated a few meters north of the historic Honpi high-grade vein mine and approximately eight vein and/or vein breccia zones in areas south of Honpi mine. In some places, very large dislodged pieces of vein have been encountered (Figure 6). It is believed these originate from a proximal, yet slightly deeper source.
• Once rains have ceased, trenching activities will resume at Omui. Trenching is planned at the Nanko target where historic trenching uncovered at least four high-grade veins. Lateral trenches are planned along several significant veins to access material for bulk sampling. Trenching and bulk sampling activities are expected to continue at Omui over the remainder of the field season which usually lasts until November.
• A ten-line CSAMT survey is currently being undertaken at Omui mine site to help identify structural zones that might host high-grade veins as well as areas of silicification associated with hydrothermal activity. This survey is expected to be complete by month end at which point data will be processed and interpreted to help generate drill targets.
• Irving plans to undertake a phase one drill program at Omui, testing several near surface high-grade vein targets later this year.

Hokuryu and Maruyama Exploration Work:

• Mapping, prospecting and soil sampling are soon commencing around the historic Hokuryu high-grade vein mine and nearby extensive Maruyama sinter terrace discovered in late 2018. Work will focus on defining initial drill targets and is planned to continue till the end of the field season.
• A multi-line CSAMT survey is schedule to be undertaken at Hokuryu before the end of the current field season.
• Irving is currently targeting phase one drilling at Hokuryu and Maruyama in mid 2020.

All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted rock samples to ALS Global Laboratory, Brisbane, Australia, for analysis. Au and Ag were analyzed by fire assay with MS finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by MS following three acid digestion. Irving staff and personnel from Mitsui Mineral Development Engineering Co, Ltd (“MINDECO”) are responsible for geologic logging and sampling of core.

Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.

About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Project Venture Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in Republic of Malawi. JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.

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) 682-3234Toll free: 1 (888) 242-3234Fax: (604) 641-1214

info@IRVresources.com

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 and the expected timing of the receipt of results and the completion of interpretation of data. 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 availability to Irving of sufficient cash to fund any 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: Map showing Irving Resources Omu concessions and locations of exploration targets.)

(Figure 2: Map showing eight recently completed drill holes at Omu Sinter. These holes test a north-south trending zone of alteration and mineralization that underlies the Omu Sinter terrace. All holes have encountered long intervals of altered and mineralized volcanic and sedimentary rocks. Approximately 40% of core has been assayed. Some holes have been partially assayed and others have yet to be assayed. Complete assays will be presented once all data has returned.)

(Figure 3: Vein material from high grade interval in hole 19OMS-005. Thus far, high grade veins at Omu Sinter display a similar banded quartz-pyrite-marcasite assemblage. Irving plans to use recently collected geophysical data to better vector on high-grade structures. It is currently believed that higher grades may occur at deeper levels within the system.)

(Figure 4: First trench opened at Omui mine site. The weathering profile is over three meters deep in places. Pieces of freshly exposed vein material are present on the trench floor in the foreground. Trenches have been systematically mapped and sampled. Further trenching is planned over coming weeks.)

(Figure 5: Sample of vein material from a 1.5 m wide exposure of the N. Honpi vein recently exposed in trenching. The outcrop that was exposed is approximately 20 m long.)

(Figure 6: Examples of very large boulders of vein material extracted from trenches. Pieces such as this are believed to be proximal to source.)