Newmont Designates Yamagano and Noto Properties for Joint Venture under Alliance Agreement
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IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
January 23, 2024
NEWS RELEASE
Newmont Designates Yamagano and Noto Properties for Joint Venture
under Alliance Agreement
Vancouver, British Columbia, January 23, 2024 (Accesswire) – Irving Resources Inc. (CSE:IRV; OTCQX:
IRVRF) (“Irving” or the “Company”) is pleased to announce that Newmont Exploration Pty Ltd, a wholly-
owned subsidiary of Newmont Corporation (collectively, “Newmont”), has designated the Yamagano and Noto
properties (collectively, the “Property”), the exploration work on which has been funded under alliances formed
by the Company with Newmont1 and with Sumitomo Corporation (“Sumitomo”)2, for joint venture.
The parties will use commercially reasonable best efforts to enter into a joint venture agreement or similar
governing agreement within 90 days which is expected to include an exploration program up to an initial US$5
million. Initially, Property interests will be split 60% to Newmont, 27.5% to Irving, and 12.5% to Sumitomo if
Sumitomo elects to participate, and Irving will be the initial joint venture manager. Irving and Sumitomo will
have a one-time right to elect to maintain their respective interest in the Property by contributing their respective
share of Property expenditures. If such right is not exercised, the relevant party’s interest will be subject to
dilution.
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.
Additional information can be found on the Company’s website: www.IRVresources.com.
Akiko Levinson,
President, CEO & Director
For further information, please contact:
Tel: (604) 682-3234Toll free: 1 (888) 242-3234Fax: (604) 971-0209
Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities
legislation including, without limitation, statements as to planned exploration activities and the completion of a joint venture
agreement or similar governing agreement within 90 days. Forward-looking statements address future events and conditions and,
as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the
statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry, the availability
to Irving of sufficient cash to fund any planned drilling and other exploration activities, as well as the performance of services by
third parties.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF
THIS RELEASE
1 Refer to the Company’s news release dated April 23, 2019.
2 Refer to the Company’s news release dated June 26, 2020.