Irving Resources Identifies Strong Soil Anomalies at its Omui Mining Right, Omu Au-Ag Project, Hokkaido, Japan

VANCOUVER, British Columbia, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased announce it has received final soil geochemical analyses from its Omui Mining Right, part of the Company’s 100% controlled Omu high-grade gold-silver project, Hokkaido, Japan. Between June and October, 2017, Mitsui Mineral Development Engineering Co., Ltd. (MINDECO) collected 1,722 soil samples on a 50 m staggered grid across the Omui Mining Right and surrounding exploration applications (Figure 1). This program was part of Irving’s 2017 field program and was geared toward target generation in preparation for more advanced work including trenching and drilling in 2018.

Contoured plots of gold, silver and pathfinder elements in soil show a complex, highly evolved mineralizing system at Omui (Figures 2-7). Precious metal anomalism, defined by +30 ppb Au and +0.35 ppm Ag, is widespread across the Omui Mining Right and is clearly open onto Irving controlled exploration applications to the east.

Discussion of Au and Ag Soil Anomalies

As expected, gold anomalism is strongly pronounced in the vicinity of the historic Honpi mine where several high-grade veins are exposed in trenches and old mine workings and samples collected by Irving have returned high Au and Ag grades (please refer to Irving’s news releases dated December 13, 2016 and September 21, 2017 for further details). Silver anomalism, though somewhat subdued, is also evident in the immediate vicinity of Honpi. Discrete gold and silver anomalism is also present in the vicinity of the Nanko prospect approximately 800 m southeast of Honpi. High grade veins have been exposed by early prospectors at Nanko and samples collected by Irving have returned high Au and Ag grades (please refer to Irving’s news releases dated December 13, 2016 and September 21, 2017 for further details).

In addition to Honpi and Nanko, many new precious metal anomalies have emerged from soil data including:

• Sakinyama, a broad area of strong Au and Ag anomalism centered on the western slope of Sakinyama Mountain in an are approximately 700 m southwest of Honpi. This area appears to be underlain in part by a rhyolite dome. Irving has yet to conduct systematic prospecting in this area, but believes this could represent a significant new target at Omui.
• SW Honpi, a small but discrete Au and Ag anomaly situated between Honpi and Sakinyama.
• N Honpi, a broad area of Ag and Au anomalism situated approximately 300 m north-northwest of Honpi. Although Irving has yet to systematically prospect this area, historic reports mention precious metal veins in this location. Like Sakinyama, this could represent a significant new target on the property.
• E Honpi and NE Honpi, both within 500 m east of Honpi, encompass discrete Au and Ag anomalies. These may reflect extensions of the Honpi vein network which projects eastward into this area.
• NE Nanko, E Nanko and SE Nanko, three Au and Ag anomalies within 500 m of Nanko. These soil anomalies fall within grassland with no outcrop. Collectively, the Nanko area is clearly a target rich part of the Omui system that may host a vein network more extensive than previously thought.

Discussion of Pathfinder Element Soil Anomalies

Arsenic (“As”), antimony (“Sb”) and selenium (“Se”) are elements commonly associated with epithermal precious metal mineralization. All three elements are enriched at Omui (Figures 4-6) and highlight a distinct northwest-trending zone of anomalism extends from N Honpi to SE Nanko. Interestingly, this trend is of similar orientation to a gravity gradient discussed in an Irving news release dated December 6, 2017. Irving believes this gradient reflects a structural zone that may have controlled the plumbing of the hot spring system at the time of mineralization. Elevated As, Sb and Se along this same trend support this model. Recognition of this trend may prove key to exploration targeting at Omui. Interestingly, pathfinder anomalism is subdued in the immediate vicinity of Honpi and Sakinyama whereas precious metal anomalism is pronounced.

Mercury (“Hg”), another pathfinder element, forms a discrete anomaly about 200 m southeast of Nanko. Hg is often concentrated in the upper parts of hot spring systems, and this anomaly may reflect preservation of the top of a mineralizing system in this area. Irving identified boulders of siliceous sinter, rock remains of a hot spring pool, in this location further supporting this argument. High-grade precious metal veins, feeders for such a hot spring pool, could potentially occur below such a setting.

“Our 2017 soil program at Omui has proven invaluable for helping identify new targets,” commented Dr. Quinton Hennigh, Technical Advisor and a director of Irving. “Beyond known mineralized areas including Honpi and Nanko, we see multiple new gold and silver anomalies in need of further exploration. In addition, pathfinder elements help confirm our overarching structural model for structural plumbing of the hot spring system at Omui. Combined with recent geophysical data, we now have an excellent data set with which drill targets can be chosen.”

Quality Assurance/Quality Control

MINDECO staff, under supervision of Irving personnel, collected soil samples discussed in this news release. Samples were collected using a hand auger. Material from the “B” soil horizon was collected, typically from depths of 1-1.5 m. Samples were dried, then submitted to ALS Global, Vancouver. Samples were screened, and 50 g charges were subjected to three acid digestion followed by multi-element analysis by ICP-MS. Blanks and standards were inserted at a rate of 1:20 samples.

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 a 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, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. 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 & Director

Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement as to the expected receipt of results from various exploration and testing activities. These 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 as well as Irving having sufficient cash to fund the planned exploration activities.

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