Ireland’s flagship Columbus Project, located in Nevada’s Esmeralda County, lies within a mineralized district surrounded by mountains known for significant historic silver production dating back to the mid-1800s. The Columbus Project, located half-way between Las Vegas and Reno, covers the Columbus Salt Marsh – an area filled with mineralized sediments. Surveys indicate there may be a two-mile wide fault structure in the northwestern section of the basin.
       Ireland currently has an approved plan of operation allowing it to mine and process calcium carbonate and precious metals on an area covering 380 acres which partially intersects the 5,000 acre anomalous zone. The 380 acre permitted area includes the millsite, roads and mineable acreage. Significantly, Ireland also holds water rights to acquifers within the Columbus Basin, greatly facilitating future production activities.
       Previous work conducted by SRK Consulting, an independent international consulting and engineering firm, estimated that, within the top 25 feet of the permitted mine area, the mineable tonnage approximates 8.8 million tons of sedimentary clay. SRK’s work focused on the presence of calcium carbonate deposits. Calcium carbonate is used in the manufacture of paper, paint, pharmaceutical products and nutritional supplements. Samples taken from a recent drilling program indicate that the sedimentary clay also contains significant amounts of gold.
       Last year, Ireland commissioned an 18-hole drilling program that was conducted within the 380 acre permitted area. Results from this drilling program indicated average grades of 0.070 ounces per ton (“opt”) of gold in-situ in sedimentary clays. Based on the results of this drilling program, Ireland’s consulting geologists believe that the mineralization within the permitted area could continue to depths of 100 feet or greater.
       “The drilling results indicate that the deposit may be relatively homogeneous from the surface to 100 feet in the permitted mine area, which is on the northern edge of the approximately 5,000 acre gold anomaly previously discovered by surface sampling,” stated Douglas Birnie, CEO of Ireland Inc.
       “The indicated grades are exciting, particularly as the estimated mining costs of the project are comparatively low,” continued Mr. Birnie. “Intense mineralogical examination using electron microscope work has shown that the gold is very fine and entombed in clays. The challenge of this project will be to separate the precious metals from the clays.”
       Ireland is planning a second drilling program to determine the three dimensional extent and economic potential of the gold mineralization within the 5000 acre gold anomaly. The company recently received permits for a 28-hole drilling program slated to begin in the second quarter of 2008. A series of shallow (150 foot) and deep (400 foot) holes are planned.

       Ireland’s current mining and processing permit allows it to mine in the permitted area to a depth of 25 feet, and to process up to 78,000 tons per year for the production of calcium carbonate and the extraction of precious metals.
       With the recent completion of upgrades to the Columbus Project’s onsite processing plant, Ireland’s focus has now shifted to pre-feasibility testing to prove that its planned extraction methods are commercially viable. The pilot production module, which should be fully installed by mid-year, will determine process economics for the project.
       The production model for the Columbus Project is anticipated to be a low cost, high volume mining operation. The pilot production module will consist of processing and production equipment that Ireland will use to test the commercial viability of its production model. If the operation of this pilot production module establishes that its production model for the Columbus Project is economically viable, Ireland will then seek to construct additional production modules.

       The Red Mountain Project, located in California’s San Bernardino and Kern Counties is a potential gold, silver and tungsten project. The property consists of 60 mineral claims covering approximately 7,500 acres. The Red Mountain Project is southeast of and adjacent to the Rand Mining District, which was discovered in 1894 and intermittently mined until just recently for gold, silver and tungsten. The area surrounding the Red Mountain Project is highly mineralized with recorded production of 2 million ounces of gold, 16 million ounces of silver and 20 million pounds of tungstate.
       Ireland intends to spend $1.6 million in 2008 at Red Mountain on a combination of drilling and surface sampling. Previous owners have reportedly invested more than $5 million to explore the property.

       Ireland has accomplished a lot in the past year – raising $13 million, moving aggressively to develop and explore two highly prospective properties, and budgeting nearly $6 million for exploration and development in 2008. At its flagship Columbus Project, Ireland has already completed the first phase of upgrades to the processing plant, including roof repairs, installation of thermal insulation, new heating and lighting systems, and new concrete for reinforced floors and fluid containment areas, as well as installing a new water well pump and pipeline to the project plant.
       Ireland’s plans for 2008 are equally ambitious – completion of an initial resource study, beginning pilot production, and completion of a prefeasibility study to assess optimum recovery methods, extraction rates, plant design, and estimates of capital and operating costs required for commercial production. This summer’s drilling program will test for resources outside the area covered by its existing permit and within the adjoining 5,000-acre gold zone previously identified. Ireland also has applied to expand its production permit ten-fold to 790,000 tons annually and to increase the mineable depth to 40 feet.