Ireland Inc. (Ireland) reported continued success with gold and silver metal extraction from a total of 36,329 lbs (18.165 tons) processed by the onsite gravity concentration circuit at its Columbus Project in Esmeralda County, Nevada. The purpose of these tests was to continue to demonstrate the effectiveness of the onsite gravity concentration components of the precious metals extraction circuit, as well as determine which operating parameters increase or decrease precious metals extraction. The extracted metals from the 18.165 tons processed to date is 0.052 opt Au and 0.141 opt Ag, or 0.055 AuE.

These results meet and exceed the extraction goal of 0.03 opt AuE (gold equivalent). A total of 36,329 lbs has been processed through the onsite gravity concentration circuit, in three separate tests of 10,821, 14,797 and 10,711 pounds respectively, on sand material extracted from the North Sand Zone. Concentrates were then sent to AuRIC Metallurgical Laboratories in Salt Lake City for leaching, resin collection and metal extraction.

Ireland reported that the results released are from a single bulk sample test site and may not be representative of grades or recovery rates that can be expected for the overall North Sand Zone. Based on these recent test results, Ireland makes no assumptions or assertions that the overall head grade of the North Sand Zone differs from the previously disclosed average of 0.038 opt AuE (0.034 opt Au, 0.179 opt Ag). While the recent bulk tests have shown greater recover rates than 0.038 opt AuE, the area from which these samples were taken may represent an anomaly within the North Sand Zone and may not be representative of the entire zone.

Additional gravity concentration tests on bulk samples from different sites within the North Sand Zone will follow. Ireland continues to work on optimizing the precious metals extraction circuit at its Columbus Project. Ireland will conduct additional offsite bulk leach tests in the laboratory to confirm the precious metal extraction results before continuous operations of the onsite pilot plant.

Continuous processing and precious metals extraction at its onsite pilot plant at the Columbus Project is expected to commence in fourth quarter of 2012. Ireland has been granted the permit for its 2012 drill program. The 2012 drill program will consist of 31 drill holes to a depth of 200 feet and will cover an additional 0.48 square miles adjacent to the North Sand Zone.

The goal of this program is to expand the boundaries of the North Sand Zone. The 2012 drilling program will commence after Ireland has completed optimization of the onsite pilot plant.