Irving talks exploration at Noto JV in Japan

Executive Summary

• Irving Resources Inc. provided a technical update on its epithermal gold-silver holdings on the Noto Peninsula, Japan, detailing exploration activities across three target areas: Southwest Noto (Shika), Central Noto (Wajima, Wajima South, and Mii), and Northeast Noto (Najimi).
• The company has ramped up systematic rock and soil sampling since June 2024 following pandemic and earthquake-related delays, collecting 106 surface rock chip samples and 528 surface soil samples to date.
• Significant geochemical anomalies were identified, particularly in the Mii area (Central Noto), which returned a high gold concentration of 54.7 ppb along with elevated silver, mercury, antimony, and arsenium, warranting further follow-up.

Key Details

• Project Structure: The Noto project is a joint venture between Newmont Overseas Exploration Ltd. (60%), Sumitomo Corp. (12.5%), and Irving Resources (27.5%).
• License Holdings: Irving holds 99 prospecting licences covering 337.37 square kilometres, making it the largest holder of prospecting licences in the Noto area.
• Exploration Activity:
  • Conducted stream sediment (BLEG) surveys in late 2020.
  • Implemented systematic rock and soil sampling programs starting June 2024.
  • Collected 106 surface rock chip samples and 528 surface soil samples.
  • Applied conventional ridge and spur soil sampling on 100m spacing across 40 soil ridgelines.
• Southwest Noto (Shika Prospect):
  • 19 blocks granted by METI in early 2025.
  • Sampling commenced October 2025; 81 rock chip and 150 soil samples collected.
  • Analytical results are pending.
  • Historical Unoya gold mine locality discovered with extensive surface disturbances, quartz veins with pyrite disseminations, and crustiform silica banding.
  • Old mining tunnels trending northeast-southwest mapped; quartz vein float found ~1km south of the mine.
• Central Noto (Wajima, Wajima South, Mii):
  • Mii Area: Best individual soil sample returned 54.7 ppb Au, with elevated trace elements: Ag (0.1 ppm), Hg (16.8 ppm), Sb (42.6 ppm), and As (1,935 ppm).
  • Wajima Area: Maximum gold concentration of 4.7 ppb in soil samples. Trace elements moderately elevated (Ag 0.1 ppm, Hg 0.2 ppm, Sb 0.9 ppm, As 15.8 ppm). BLEG anomaly of 50.8 ppb Au suggests buried hydrothermal system.
• Northeast Noto (Najimi):
  • Maximum Au concentration of 7.4 ppb in soil samples.
  • Trace elements: Ag (0.4 ppm), Hg (0.2 ppm), Sb (1.3 ppm), As (23.5 ppm).
  • Hydrothermally altered rocks mapped; evidence suggests mineralization may be buried beneath post-mineral sedimentary cover.
• Quality Assurance/Quality Control (QA/QC):
  • Interchanging Oreas derived blanks and standards inserted at every 20th sample.
  • Soil sample duplicates obtained at every 75th sample at Central and Northeast Noto.
• Laboratory: Samples submitted to ALS Global (Perth and Brisbane) for gold and multielement analyses.
• Qualified Person: Dr. Quinton Hennigh (PhD, PGeo), Technical Adviser and Director of Irving, has reviewed and approved the technical information.

Notable Quotes

• "Given the extensive scope of the Unoya historical mine, proximal occurrences of quartz vein float and appreciable clay plus silica alteration observed throughout the area, Irving's geologic team believes the Shika area warrants more follow up to better evaluate the full extent of the Unoya vein system and its associated splays."
• "These results indicate future follow-up fieldwork is highly warranted in the Mii area."
• "Given the elevated BLEG anomaly acquired from this area of 50.8 ppb Au, Irving's geologic team believes that postmineral cover rocks mask a buried hydrothermal system here and that follow-up fieldwork is warranted to try to find exposure of an underlying mineral system."