Irving reviews 2025 work by Omu sinter pit optionee JX

Executive Summary

• Irving Resources Inc. provides an operational update on the first year of its farm-in agreement with JX Metals at the Omu Project in Hokkaido, Japan, confirming JX Metals has satisfied the first-year expenditure requirements.
• Significant drilling results were reported at the Omui mining licence, where five shallow holes defined a north-south mineralized corridor approximately 200 metres long, including a high-grade zone of 24.22 g/t Au and 173.40 g/t Ag.
• At the Omu sinter, a new drill hole confirmed strong continuity of a shallow, high-silica gold-silver deposit, with 96.6% silica content, supporting its potential as a smelter flux source.

Key Details

• Farm-in Agreement Status: JX Metals has satisfied the first-year requirements under the option agreement to earn up to a 75% interest in the Omu sinter pit and Omuisenbu. The agreement has moved into its second year.
• Expenditure Requirements: JX Metals must incur at least 300 million yen in exploration- and property-related expenditures over three years to exercise the option.
• Omui Mining Licence Drilling:
  • Five shallow-angle diamond core holes were completed in 2025 following the initial discovery hole (24OMI-001).
  • The holes define a north-south mineralized corridor approximately 200 metres long, open to the north and south.
  • Hole 24OMI-001: 101.1 metres grading 1.14 g/t Au, 16.0 g/t Ag, and 84% silica.
  • Hole 25OMI-002: Encountered a two-metre-wide high gold zone showing 24.22 g/t Au and 173.40 g/t Ag.
• Omu Sinter Drilling:
  • Hole 25OMS-001: A shallow, vertical diamond drill hole yielded a 41.81-metre-thick intercept averaging 0.54 g/t Au, 8.7 g/t Ag, and 96.6% silica.
  • The deposit is interpreted to lie mostly above the water table (water table observed at 30 metres depth; nine metres above sea level).
  • Additional drilling is underway to test groundwater levels and continuity/extensions of the deposit.
• Project Vision: The company aims to advance the Omu sinter pit and Omuisenbu as a new source of smelter flux in Japan.

Notable Quotes

• "Irving considers assay results from its low-angle drilling program to be very favourable."
• "This hole confirms strong continuity of the Omu sinter, a shallow, flat horizon of silica deposited by ancient hot spring fluids."