Irving Resources Encounters High-Grade Gold and Silver in Drilling at Omu Sinter

VANCOUVER, May 06, 2019 - Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce high-grade gold-silver (Au-Ag) assays from an expedited batch of diamond drill samples from a 7.5 m interval from hole 19OMS-002 drilled at Omu Sinter (also known as Otoineppu Mine). This interval comprises only the top of a much longer mineralized interval extending between approximately 182-332 m (150 m) down hole (core photos from 19OMS-002 are available on Irving’s website; Figures 1, 2 & 3 display a plan map and cross sections).

Results include a 0.32 m interval of banded quartz vein displaying ginguro, silver sulphide minerals, assaying 118.5 gpt Au and 1,410 gpt Ag, or 135.09 gpt Au equivalent. Samples above and below this high-grade interval contain lower level, but appreciable Au and Ag values (see table below). Pathfinder elements including arsenic (As), antimony (Sb), mercury (Hg) and selenium (Se) are elevated as would be expected in a low sulfidation epithermal vein system such as this. Exact orientation and width of this mineralization is unknown at this time.

Assays from diamond drill samples collected between 182-189.5 m in hole 19OMS-002:

“We are delighted with these first results from hole 19OMS-002,” commented Akiko Levinson, President, CEO and director of Irving Resources. “We now see that Omu Sinter has the potential to host high-grade gold and silver like other nearby targets, Omui mine and Hokuryu mine, on our extensive Omu project. Our success at Omu Sinter is a result of the collective efforts of our entire team in Japan. Everyone, including many in the local community of Omu, played a critical role in making this happen.”

“Confirmation of the high-grade potential of Omu Sinter is very encouraging,” commented Dr. Quinton Hennigh, director of and technical advisor to Irving Resources. “We already appear to have intersected a significant feeder vein within this robust hot spring system. The bulk of the productive boiling zone, the part of the system where high-grade mineralization is typically deposited, remains untested beneath. Other intervals of vein are evident in the remaining 150 m-long mineralized interval encountered in hole 19OMS-002. We eagerly await further assays.”

“Attributes of this newly encountered mineralization suggest it is closely linked with our other targets across the Omu property,” continued Dr. Hennigh. “It displays a silver-to-gold ratio of between 10-1 and 20-1 in line with what we see elsewhere. Pathfinder elements, while elevated, are not especially high and display similar level to other gold vein deposits on the property. High grades of Au and Ag are associated with ginguro similar to that seen in veins at Omui and Hokuryu mines. Omu Sinter is clearly structurally linked to the other high-grade gold-silver occurrences. This evidence suggests that we potentially have an extensive gold system across our approximately 168.29 sq km property.”

These are the first assays from Irving’s current 2019 drill program at Omu and were expedited to ALS Global Laboratory, Vancouver, Canada, for rush assay to provide Irving with an early indication of the precious metal content of this important zone. Samples from the lower part of hole 19OMS-002 (189.5-421.2 m, end of hole) are being shipped to ALS Global Laboratory, Brisbane, Australia, this week. Assays from these samples are expected within the next few weeks.

Omu Sinter was first recognized by Irving as a prospective target in 2016. Irving geologists noted that many homes in the area had rock gardens displaying large boulders of silica sinter, material formed by hot spring waters as they emerge from the ground and flow into shallow pools. Upon enquiring about the origin of such boulders, local people pointed Irving personnel to a bluff where they were quarried. Rock chip sampling proved the sinter was strongly anomalous in Au, Ag and pathfinder elements. Geophysical data, magnetic and gravity, collected by Irving indicated a larger structure is present under the area and is associated with extensive hydrothermal alteration (Figure 4). Irving’s 2019 diamond drill program is the first drilling to be undertaken at this greenfield target. Irving considers these early results as confirmation that feeder veins for the Omu Sinter have the potential to host high-grade Au-Ag mineralization.

Hole 19OMS-001 will be split and sampled following hole 19OMS-002. A third hole, 19OMS-003, is currently underway. It is collared from the same pad as 19OMS-002, but oriented south-southeast at an inclination of 55 degrees. Hole 19OMS-003 is designed to intersect the same mineralized zone as hole 19OMS-002, but also test a possible E-W oriented cross structure evident in geophysical data.

All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted rock samples to ALS Global Laboratory, Vancouver, BC, 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

Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation. 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 as well as Irving having sufficient cash to fund any planned drilling and other exploration activities.

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

Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/62280d62-ec2f-46ef-b630-01a0ea161e33
http://www.globenewswire.com/NewsRoom/AttachmentNg/56a78fc6-6af6-4426-8d06-09a3f349530b
http://www.globenewswire.com/NewsRoom/AttachmentNg/2edfd680-c234-491e-a323-d4e7016c4ec2
http://www.globenewswire.com/NewsRoom/AttachmentNg/270b5148-fa1e-4058-882c-24cedd5962d6

For further information, please contact: 
Tel: (604) 682-3234    Toll free: 1 (888) 242-3234    Fax: (604) 641-1214
info@IRVresources.com