Ms. Akiko Levinson reports

IRVING RESOURCES HITS MORE HIGH-GRADE VEINS AT OMU MINE SITE

Irving Resources Inc. has released assay results from multiple high-grade epithermal veins encountered in recent diamond drilling at Omui mine site, part of its 100-per-cent-controlled Omu gold project, Hokkaido, Japan.

Summary

Assays from diamond drill holes 20OMI-002 and 20OMI-003, the first holes Irving has completed at its Nanko target, confirm the presence of multiple gold-silver veins (please refer to the included table). Results include 12.59 grams per tonne gold and 91.36 g/t silver (13.81 g/t gold equivalent) over 2.01 metres within 2.9 g/t Au and 29.5 g/t Ag (3.29 g/t AuEq) over 14.5 m in hole 20OMI-002. Hole 20OMI-003 yield one vein intercept of 8.15 g/t Au and 147.29 g/t Ag (10.11 g/t AuEq) over 1.76 m within 3.55 g/t Au and 69.24 g/t Ag (4.47 g/t AuEq) over 14.24 m, and a second of 21.65 g/t Au and 538.75 g/t Ag (28.83 g/t AuEq) over 1.72 m including 56.1 g/t Au and 1,435 g/t Ag (75.23 g/t AuEq) over 0.6 m.

    ASSAY RESULTS FROM DIAMOND DRILL HOLES 20OMI-002 AND 20OMI-003
 
Hole No.   From (m)  To (m)  Length (m)  Au (g/t)  Ag (g/t)  AuEq (g/t)

20OMI-002     11.50   14.00        2.50      0.99     49.56        1.65    
              29.11   34.40        5.29      1.07     12.04        1.23    
including     34.06   34.50        0.44      6.10     48.00        6.74    
              53.65   54.65        1.00      1.60     10.85        1.74    
              74.70   89.20       14.50      2.90     29.50        3.29    
including     75.20   77.00        1.80      7.54     60.79        8.35    
including     80.29   82.30        2.01     12.59     91.36       13.81   
including     89.00   89.20        0.20      5.24     36.10        5.72    
             107.70  108.00        0.30      1.80    246.00        5.08    
20OMI-003     26.22   32.90        6.68      0.86     45.11        1.46    
              41.30   55.90       14.60      1.71     21.64        2.00    
             185.00  187.10        2.10      1.24     37.92        1.75    
             207.00  221.24       14.24      3.55     69.24        4.47    
including    210.00  211.30        1.30      5.99     61.55        6.81    
including    218.54  220.30        1.76      8.15    147.29       10.11   
             225.30  229.00        3.70      2.92     38.43        3.43    
including    228.00  229.00        1.00      5.13     32.80        5.57    
             341.70  343.42        1.72     21.65    538.75       28.83   
including    342.20  342.80        0.60     56.10  1,435.00       75.23   

Holes 20OMI-002 (south oriented at minus 60 degrees) and 20OMI-003 (north-northeast oriented at minus 60 degrees) are the first ever drill holes completed at Irving's Nanko target situated approximately 600 m south-southeast of the Honpi area drilled late last season and earlier this year (please refer to the company's news release dated June 25, 2020, for further information). The two holes, situated approximately 200 m apart, clearly indicate a strong mineralizing system is present in this area.

Multiple vein phases have been documented through logging, some visibly mineralized with ginguro, silver sulphosalts and others with no apparent ginguro. Core orientation data indicate at least two primary orientations of mineralized veining, one oriented east-southeast and another oriented northeast, both dipping steeply. At this time, Irving cannot firmly establish true thickness of these veins. Further drilling is needed to gain a better understanding.

Notable long intervals of mineralization were encountered in the upper parts of both holes in a regime Irving believes is within the base of the siliceous sinter cap of the hot-spring system. These intervals include 2.9 g/t Au and 29.5 g/t Ag (3.29 g/t AuEq) over 14.5 m beginning at 74.7 m in hole 20OMI-002, and 1.71 g/t Au and 21.64 g/t Ag (two g/t AuEq) over 14.6 m beginning at 41.3 m in hole 20OMI-003. These mineralized intercepts include siliceous breccias that appear to have formed during intense hydrothermal explosions. Further drilling is needed to ascertain whether this mineralization potentially forms a blanket-like deposit in this area or if it represents the upper expression of deeper vein system below.

Hole 20OMI-003 encountered an impressive vein intercept of 3.55 g/t Au and 69.24 g/t Ag (4.47 g/t AuEq) over 14.24 m including 8.15 g/t Au and 147.29 g/t Ag (10.11 g/t AuEq) over 1.76 m beginning at 207 m down hole. A second narrower but higher grade vein grading 21.65 g/t Au and 538.75 g/t Ag (28.83 g/t AuEq) over 1.72 m including 56.1 g/t Au and 1,435 g/t Ag (75.23 g/t AuEq) over 0.6 m was encountered at a downhole depth of 341.7 m. Irving believes this deeper vein intercept is a splay, splinter structure, off the much larger vein intersected higher in the hole. Therefore, Irving believes there is good potential to find higher grades within the larger vein at deeper levels that are within the boiling level of the system. Further drilling will be required to test this possibility.

Irving has recently completed holes 20OMI-004 (north-northeast oriented at minus 55 degrees) and 20OMI-005 (north-northeast oriented at minus 65 degrees) above and below hole 20OMI-003, respectively. Veins and other styles of mineralization similar to that observed in hole 20OMI-003 were observed in both holes. Core has been sawn and samples shipped for assay.

Irving is currently drilling hole 20OMI-006 (south-southwest oriented at minus 60 degrees), collared approximately 50 m north of hole 20OMI-002, which aims to undercut the veins encountered in that hole.

"We now have solid confirmation a significant precious metal vein system underlies the Nanko target," commented Dr. Quinton Hennigh, director and technical adviser to Irving Resources. "We are very please to see solid assays from multiple veins in holes 20OMI-002 and 20OMI-003, the first two holes drilled here. Interestingly, we see preservation of the entire profile of the hot-spring system here much like at Omu Sinter. That means we have some near-surface mineralization associated with the sinter cap as well as some high-grade veins below. To gain a better understanding of this robust mineralizing system, our plan is to drill several more holes here before the end of the Omui mine site program later this year."

The Omu region continues to report no cases of COVID-19 and Irving continues to operate under strict company guidelines.

All samples discussed in this news release are one-half split sawn diamond core samples. Irving submitted rock samples to ALS Global, Vancouver, Canada, for analysis. Gold and silver were analyzed by fire assay with atomic absorption finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following four-acid digestion. Irving staff are responsible for geologic logging and sampling of core. AuEq is calculated by adding Au (g/t) to Ag (g/t) over 75.

Dr. Hennigh (PhD, PGeo) 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 adviser and director of Irving Resources.

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 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 stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.

We seek Safe Harbor.