Ms. Akiko Levinson reports

IRVING RESOURCES UPDATES EXPLORATION RESULTS AND ANNOUNCES PROPOSED EXPLORATION PLANS FOR THE YAMAGANO JOINT VENTURE, KYUSHU, JAPAN

Irving Resources Inc. has provided an update on: (1) assay results from drill hole 25SY-002A; (2) the completion of grid soil line sampling programs across the Yamagano project; and (3) the proposed drilling activities currently contemplated to be conducted in 2026.

25SY-002A assay results

Irving recently completed its fifth diamond drill hole at Yamagano East, 25SY-002A, drilled to a depth of 951.8 metres at an azimuth of 357 degrees and an inclination of 66 degrees. The collar of 25SY-002A is located approximately 1.07 kilometres south of earlier drill hole, 25SY-001.

Two distinct high-resistivity bodies, located in the northern and southern parts of the project area, are evident in AMT (audio-frequency magnetotelluric) data and have been the target of recent drilling. Drill hole 25SY-002A was designed to test the southern deep resistive feature, which is spatially coincident with a northeast-southwest-trending zone of demagnetization. Previous drilling, targeting the northern resistive feature, returned geological indicators of mineralization. Drill hole 25SY-002A represents the first attempt to test the southern resistive target and is the deepest drill hole ever completed at Yamagano.

Hole 25SY-002A intersected multiple anomalous gold-bearing intervals associated with silicification and stockwork veining. Anomalous gold mineralization continues to depth, culminating in the highest gold grade intersection in the hole, 2.11 grams per tonne gold from 837.43 metres to 838.33 metres. Irving considers these results favourable because they indicate that the Yamagano epithermal gold system extends to depths of at least 450 metres below those reached by historical mining operations.

Irving has also recently completed another drill hole, 25SY-003, located approximately 500 metres south of 23SY-001. Hole 25SY-003 was drilled to a depth of 900.30 metres at an azimuth of 350 degrees and inclination of 53 degrees. This hole targeted the same resistive feature previously tested by drill holes 23SY-001 and 24SY-002 (see the company's news release dated May 5, 2025) but from the south so that the southern flank and deeper levels of this resistive body could be tested. Three notable zones of hydrothermal alteration characterized by silicification and veining were logged beginning at approximately 130 metres, 300 metres and 625 metres downhole, respectively. Assaying of drill hole 25SY-003 is currently under way.

All samples discussed in this news release are one-half-split sawn diamond core samples. Irving submitted samples to ALS Global in Brisbane, Australia, for analysis. Gold and silver were analyzed by fire assay with AA finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following four-acid digestion. Irving routinely inserts standard and blank samples in assay batches submitted to the laboratory. Company staff are responsible for geologic logging and sampling of core. Gold equivalent is calculated by adding gold to (silver divided by 80). Recovery of both gold and silver is expected to be greater than 95 per cent as smelter flux. Results referred to in this news release are not necessarily representative of mineralization throughout the project.

Completion of soil sampling program

From February through December, 2025, Irving completed three phases of systematic soil sampling covering a total area of approximately 5.88 square kilometres across the Yamagano project. These sampling programs were designed to elucidate both known and interpreted mineralized structures trending northeast-southwest to east-west and to support future drill target generation.

With the completion of the phase III soil program in mid-December, 2025, a combined total of 673 soil samples and 57 surface rock samples (excluding quality assurance/quality control samples) were collected. Assay results from surface rock float samples collected during the phase I and phase II soil programs returned a peak value of 86.8 g/t Au and 43.4 g/t Ag from a quartz vein sample.

Phase I soil assay results have already yielded multiple samples returning values greater than 1,000 parts per billion Au (greater than one g/t Au), with the highest value of 7,940 ppb Au (7.94 g/t Au) and 5.2 g/t Ag, located approximately 500 metres southwest of the historical Yamagano mine workings. Elevated concentrations of gold, silver and arsenic were detected proximal to historical mining areas with several anomalous trends extending eastward. In addition, anomalous mercury and antimony values exhibit similar spatial patterns while also extending in a southward and southwestward direction from the historical mine workings.

All 32 soil lines from the phase I, phase II and phase III programs were spaced 200 metres apart, with sample intervals of 50 metres. Conventional B-horizon soil sampling techniques were employed during phase I, while deep-sensing geochemistry (DSG) soil sampling was applied during phase II and phase III. DSG is a relatively new technique developed by Newmont Corp. designed to detect mineralization concealed beneath premineral or postmineral cover sequences.

Sample counts exclude QA/QC materials.

QA/QC procedures included the insertion of certified reference materials (Oreas) and blank limestone samples at every 20th sample for phase I soils. For phase II and phase III DSG soils, duplicate samples were collected at every 20th location. Blanks and standards were also routinely inserted into the rock sample batches.

Proposed future exploration plans

In connection with the option agreement executed between Irving and Shimadzu Ltd., there is potential for drilling within the Yamagano MR (mining right) held by Shimadzu. Preparations are now under way to look to potentially commence drilling on the Yamagano MR in 2026. A draft master plan, required for the implementation of drilling activities, is currently being prepared.

The approximately 400-year history of gold production at the Yamagano mine has taken place entirely within the Yamagano MR. More than 50 mineralized veins have been identified within the lease area. Only a limited number of these veins have been systematically developed. In the northern part of the broader Yamagano vein system, little formal mining has been conducted. Recent soil sampling by Irving identified high-grade gold float in proximity to projections of veins in this area.

Furthermore, approximately one-third of the central eastern portion of the Yamagano MR is extensively covered by Hokusatsu younger andesite, a postmineral sequence of volcanic rocks. According to Shimadzu, very little drilling has been undertaken in this area to date, suggesting untested exploration potential may be present in this area.

Yamagano JV 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.

Dr. 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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