VANCOUVER, BC / March 2, 2026 / Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF)(FSE:1IR) ("Irving" or the "Company") is pleased to:
announce high-grade gold assay results from drill hole 25SY-003 that confirms a potential eastward extension of mineralized veins at Yamagano,
provide an update on "in-progress" drill hole 26SY-001, the eastern-most diamond drill test at Yamagano to date, and
provide an update on the potential for 2026 drill plans within the Shimadzu Ltd.-owned Mining Right ("MR") located immediately west of the East Yamagano Exploration Right, the location where the Yamagano joint venture ("JV") is currently drilling.
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%.
25SY-003 Assay Results
In late 2025, the JV completed its last deep diamond drill hole of the season, 25SY-003, a north-oriented drill hole of 350 azimuth at an inclination of -53 degrees and collared approximately 360 m south of hole 23SY-001 (Figure 1). Like other drill holes in this area, the target was a large, deep-rooted AMT resistive body thought to be related to hydrothermal silicification and veining (Figure 2). Similar to hole 23SY-001 (please refer to the Company's news release dated May 7, 2024) which encountered a one-metre vein grading 45.90 gpt Au, hole 25SY-003 has encountered notable high-grade vein intercepts including:
8.91 gpt Au and 31.5 gpt Ag over 0.9 m
10.30 gpt Au and 10.0 gpt Ag over 0.5 m
23.36 gpt Au and 9.12 gpt Ag over 1.0 m
In addition to these notable high-grade veins, longer intervals of auriferous low-grade mineralization are evident in 25SY-003, a sign that there may be spatially low-grade mineralization in this area (please see table below). These results suggest that the East Yamagano veins identified in 25SY-003 possibly extends and connects to the adjacent Yamagano vein system to the west. Irving considers these results encouraging and there is potential for plans for further drilling to follow up on these results.
The following table summarizes mineralized intervals in hole 25SY-003:
Hole | From (m) | To (m) | Length (m) | Au (gpt) | Ag (gpt) |
25SY-003 | 127.00 | 128.00 | 1.00 | 2.15 | 3.40 |
136.00 | 137.00 | 1.00 | 2.24 | 1.00 | |
170.00 | 186.00 | 16.00 | 0.49 | 0.61 | |
310.10 | 314.72 | 4.62 | 3.55 | 8.89 | |
including | 310.10 | 311.00 | 0.90 | 8.91 | 31.50 |
And | 313.25 | 313.80 | 0.55 | 10.30 | 10.00 |
336.50 | 339.00 | 2.50 | 1.27 | 5.97 | |
including | 336.50 | 336.80 | 0.30 | 5.14 | 22.30 |
432.00 | 436.00 | 4.00 | 6.27 | 3.97 | |
including | 434.00 | 435.00 | 1.00 | 23.36 | 9.12 |
including | 434.52 | 435.00 | 0.48 | 46.10 | 16.35 |
620.00 | 626.50 | 6.50 | 0.82 | 1.09 |
True widths of mineralized intercepts are not known at this point. Further data must be gathered to better ascertain the orientation and widths of these zones.
HoleID | Easting | Northing | Elevation | Depth | Azimuth | Dip |
25SY-003 | 655254 | 3531472 | 350 | 900.3 | 350 | -53 |
26SY-001 | 656807.8 | 3532124 | 389 | 300.53 | 178 | -67 |
** Coordinates are in WGS84 Zone 52N | ||||||
26SY-001 in Progress
Located in the far east of the East Yamagano Project, hole 26SY-001 is currently drill testing an identified discrete AMT resistive target similar to that described above (Figure 1). This hole is south-oriented at an inclination of -67 degrees and is currently at a drill length of approximately 400 m. Although this hole is far removed from other holes completed to date, there is the potential for zones of veining and silicification identified, a sign that this area may be similarly hydrothermally altered like the area to the west. Irving believes this is an encouraging sign. This hole is planned to a depth of 900 m and is currently expected to be completed within Q1 or Q2 2026.
Potential 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 a component of the Yamagano Project. The JV Operating Committee is contemplating a potential drilling program beginning in mid-2026, subject to issuance of the required permit and other technical reviews. Additional drill sites may also be considered after permission is granted based on technical merit. Irving believes that drilling at Yamagano is critical in order to evaluate the potential of the Yamagano project.
The approximately 400-year history of gold production at the Yamagano Gold Mine has taken place entirely within the Shimadzu-held MR. Nearly 50 mineralized veins were identified historically within the lease area**. 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. Recent soil sampling by Irving identified high-grade gold float in proximity to projections of potential veins in this area.
*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.
All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted samples to ALS Global, Perth, Australia, for analysis. Au and Ag were analyzed by fire assay with AA finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following four-acid digestion. Irving routinely inserts standard and blank samples in assay batches submitted to the laboratory. Company staff are responsible for geologic logging and sampling of core. Results referred to in this news release are not necessarily representative of mineralization throughout the project.
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, including sampling, 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
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. 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 East Yamagano area showing drill traces with a background of AMT resistivity. Warm colours reflect resistive bodies thought to be associated with hydrothermal silicification and veining. Note that hole 25SY-003 tests a resistive feature immediately east of the Shimadzu mining right. This hole encountered multiple high-grade vein zones. A thin white line shows the location of the cross section shown in Figure 2. On the approximately 1.4km East from 25SY-003, the trace for hole 26SY-001 tests a separate resistive zone. This hole is in progress and has encountered several zones of initially identified veining and hydrothermal alteration.
Figure 2: Cross sectional view looking west. Three holes including 25SY-003 are shown. Like Figure 1, the background is AMT resistivity with warm colours reflecting higher resistance. Significant intervals of gold encountered in these holes are labeled approximately. Irving thinks the multiple high-grade veins encountered in this area represent a potential extension of the historic Yamagano veins identified to the west.
SOURCE: Irving Resources Inc.
