Irving Finalizes Yamagano-Noto Joint Venture Term Sheet with Newmont and Sumitomo
Irving Finalizes Yamagano-Noto Joint Venture Term Sheet with
Newmont and Sumitomo
Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF) ("Irving" or the "Company") is pleased to
announce that further to its news release dated January 23, 2024 [1] the Company has finalized a
non-binding term sheet with Newmont Overseas Exploration Limited, a wholly-owned
subsidiary of Newmont Corporation (collectively, "Newmont"), and Sumitomo Corporation
("Sumitomo") for a proposed joint venture over the Yamagano and Noto properties (the "Term
Sheet"). The Term Sheet provides the basis for a definitive joint venture agreement or similar
governing agreement (the "Definitive Agreement") to be negotiated by the parties, which is
expected to include an initial diamond drilling exploration program. The initial ownership
interests in the joint venture company that will hold the Yamagano and Noto property interests
will be 60% as to Newmont, 27.5% as to Irving, and 12.5% as to Sumitomo and Irving is the
initial manager of the joint venture.
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 the
anticipated completion of the Definitive Agreement. 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 January 23, 2024.
SOURCE: Irving Resources Inc