Ms. Akiko Levinson reports

IRVING RESOURCES REPORTS CLOSING OF NON-BROKERED PRIVATE PLACEMENT WITH STRATEGIC INVESTOR

Irving Resources Inc.'s private placement with Newmont Corp. announced in the company's news release dated April 12, 2021, has closed. Gross proceeds of $6-million (U.S.) ($7,544,400 (Canadian)) were raised through the issuance of 3,575,545 common shares of Irving. The shares issued in this private placement are subject to a hold period in Canada expiring on Aug. 13, 2021.

The funds from this private placement will be allocated as to $5.4-million (U.S.) toward exploration on the company's Omu project in Hokkaido, Japan, and $600,000 (U.S.) toward the alliance formed between Irving and an affiliate of Newmont to identify and, if designated by Newmont's affiliate, jointly exploit mineral exploration opportunities throughout Japan.

About Irving Resources Inc.

Irving Resources 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 Corp. (JOGMEC). 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 the stable supply of various resources to Japan through the discovery of sizable economic deposits of base metals, precious metals and rare metals.

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