Ms. Akiko Levinson reports

IRVING RESOURCES UPDATES PROGRESS ON ITS EXTENSIVE EPITHERMAL GOLD-SILVER HOLDINGS, NOTO PENINSULA, HONSHU, JAPAN

Irving Resources Inc. has provided an update on its epithermal gold-silver holdings on the Noto Peninsula, Honshu, Japan. The company's 99 Noto prospecting licences (337.37 square kilometres) cover four discrete potential target areas displaying stream sediment gold, silver, arsenic, antimony, mercury and/or copper anomalism, and, once granted, would make Irving the largest holder of prospecting licences in the Noto area (please refer to the company's news release dated March 12, 2021). The Noto project is a joint venture between Newmont Overseas Exploration Ltd., a wholly owned subsidiary of Newmont Corp., Sumitomo Corp. and Irving. The initial interests of the parties in the joint venture are Newmont, 60 per cent, Sumitomo, 12.5 per cent, and Irving, 27.5 per cent.

During the latter half of 2020, Irving conducted stream sediment (BLEG) surveys over much of the Noto Peninsula, a region with geologic similarities to nearby Sado Island, host to the famous high-grade gold mine, Sado Kinzan (Mitsubishi Material Corp.). Gold was discovered at Sado Kinzan in 1601 and was mined continuously for 388 years, making it one of the longest lived gold mines on Earth with recorded production of 2.51 million ounces Au (gold) and 74 million oz Ag (silver). Veins at Sado Kinzan are classed as epithermal, were productive over vertical distances of several hundred metres and display anomalously high copper values. Beyond Sado Kinzan type veins, Irving considers the Noto Peninsula prospective for other styles of gold mineralization including intrusion related type.

While Irving's early exploration work at Noto was impeded by restrictions during the COVID pandemic and, subsequently, due to the massive earthquake that struck the Noto Peninsula on Jan. 1, 2024, the company has gradually ramped up activity at Noto beginning in June, 2024, implementing systematic rock and soil sampling programs. A total of 106 surface rock chip samples and 528 surface soil samples have been collected to date to follow up on the regional BLEG results. A conventional ridge and spur soil sampling technique was applied to priority target areas. Forty soil ridgelines were traversed and sampled on 100 m spacing. Areas that were targeted include: 1) Southwest Noto (Shika), 2) Central Noto (Wajima, Wajima South and Mii), and 3) Northeast Noto (Najimi).

Southwest Noto-Shika prospecting right

In early 2025, a total of 19 blocks (Southwest Noto -- Shika prospecting right) were granted by the Ministry of Economy, Trade and Industry (METI), Chubu Bureau. Surface rock chip and soil sampling commenced in October, 2025. A total of 81 rock chip and 150 soil samples were collected during the field program). Analytical results for all of these samples are pending.

The geology of Shika area is dominated by volcanic andesite and pyroclastic rocks. Interlayered siltstone and sandstone, dacite, rhyolite, and granitic to dioritic intrusive rocks are also present in lesser amounts. Following some research, the field team discovered the locality of the historical Unoya gold mine. Although this mine is poorly documented in historical literature, Irving's geologic team's review of surface disturbances associated with the mine proved extensive. Quartz veins exhibiting pyrite disseminations within crustiform silica banding were sampled. A couple of old mining tunnels trending northeast-southwest were also mapped. Several randomly scattered quartz vein float samples were discovered approximately one kilometre south of the Unoya gold mine. 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.

Central Noto -- Wajima, Wajima South and Mii prospecting rights

Host rocks in this area are comprised mostly of basaltic andesite, andesite and minor interlayered siltstone, sandstone, and conglomerate. The best individual soil sample was obtained in the western Mii area with a high concentration of gold of 54.7 parts per billion. Other elements in this sample are notably elevated including Ag (0.1 part per million), Hg (mercury) (16.8 ppm), Sb (antimony) (42.6 ppm) and As (arsenic) (1,935 ppm). These results indicate future follow-up fieldwork is highly warranted in the Mii area.

In Wajima area, a maximum gold concentration of 4.7 ppb was returned from a soil sample. Trace elements are moderately elevated including Ag (0.1 ppm), Hg (0.2 ppm), Sb (0.9 ppm) and As (15.8 ppm). 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.

Northeast Noto -- Najimi prospecting rights

The Najimi area comprises sedimentary rocks consisting of weakly consolidated siltstone, sandstone and minor conglomerate. The maximum Au concentration reported from a soil sample was 7.4 ppb. Trace elements including Ag, Hg, Sb and As had maximum soil concentrations of 0.4 ppm, 0.2 ppm, 1.3 ppm and 23.5 ppm, respectively. Hydrothermally altered rocks were mapped at Najimi, and from trace element geochemistry, there is supportive evidence indicating that mineralization may be buried beneath a veneer of post mineral sedimentary rock cover. Further work here is warranted.

Quality assurance and quality control measures were strictly applied with interchanging Oreas derived blanks and standards inserted at every 20th sample for soils and rocks. Soil sample duplicates were obtained at every 75th sample at Central and Northeast Noto.

Surface soil and rock chip sample analytical results for Central Noto (Wajima, Wajima South and Mii) and Northeast Noto (Najimi) have been returned from the laboratory. Sample results for Southwest Noto (Shika prospecting right) are currently being analyzed with results pending.

Rock chip sampling, surface soil sampling and geologic mapping were conducted by company's Japanese subsidiary's staff from June, 2024, to October, 2025, intermittently. Rock and soil samples were submitted to ALS Global Perth and Brisbane, respectively, for gold and multielement analyses. A strict regimen of blanks and duplicates were inserted.

Quinton Hennigh (PhD, PGeo) 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 adviser 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.

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