Ireland Inc. Reports Drilling Results That Indicate Additional Gold and Silver Resources

November 3, 2009

Drill hole assays indicate mineralized Zones A and B are still open to extension

HENDERSON, Nev., Nov. 3 /PRNewswire-FirstCall/ -- Ireland Inc. (OTC Bulletin Board: IRLD), a minerals exploration and development company focused on the discovery and extraction of precious metals from mineral deposits in the Southwestern United States, today announced assay results from the first 23 drill holes of its current 58-hole drill program at the Columbus Project located in Esmeralda County, Nevada.

Ireland received the assays from independent consultants McEwen Geological LLC of Arvada, Colorado ("McEwen Geological"). The drill samples were analyzed using a caustic fusion technique, and the results reported were from the extracted precious metals (see table below). Assay results from these first 23 drill holes indicate that the mineralized Zone A could potentially extend further to the west and south, and the mineralized Zone B could potentially extend further to the west and north, from their currently defined areas.

                                                 Au (opt) Ag (opt) Au (opt)(1)
                                                                   Equivalent
    Zone A South - (9 holes) Weight Mean Average   0.037    0.190      0.039
    Zone B West - (2 holes) Weight Mean Average    0.039    0.190      0.042
    Zone B East - (3 holes) Weight Mean Average    0.024    0.095      0.025
    Zone B South - (9 holes) Weight Mean Average   0.023    0.091      0.024


    (1) Au Equivalent calculated using:  $900/oz Au, $12/oz Ag

Expanded 2009 Drill Program

In September 2009 Ireland announced it had received approval from the Bureau of Land Management to expand its previously authorized 30-hole drill program at the Columbus Project by 28 holes. The 58 holes were drilled to depths ranging from 200 feet to 400 feet below the surface. The objective of the program is to determine the three-dimensional extent and economic potential of the gold/silver mineralization that lies between and beyond the previously identified mineralized Zones A and B of the Columbus Project.

In September, Ireland also announced that its second 2,000 pound pilot scale leach test produced 83% recovery of gold and silver (metal-in-hand).

"We are encouraged by the drill hole assay results and by the continued success of our leach extraction testing program," stated Douglas D.G. Birnie, Chief Executive Officer of Ireland. "The drilling component of the program has now been completed, and samples from the remaining 35 drill holes are currently being analyzed. We will continue to report results as they are delivered to Ireland. McEwen Geological will conduct geological modeling and resource calculations after they have received all of the drill program data."

"We are making solid progress towards our goal of receiving independently confirmed gold and silver resources and completing the prefeasibility program through operations at our onsite pilot plant," concluded Birnie.

Drill Results

       Hole      Depth      Mineralized  Thickness  Au      Ag    Au (opt) (2)
        ID    Drilled (ft) Interval (ft)   (ft)    (opt)   (opt)   Equivalent

    Zone A South
    09-S3A        200'       0' to 200'    200'    0.038   0.175     0.040
    09-S6A        200'       0' to 200'    200'    0.039   0.263     0.042
    09-S9A        330'       120' to 330'  210'    0.035   0.206     0.038
    09-S10A       200'       0' to 120'    120'    0.023   0.132     0.025
    09-S11A       400'       0' to 140'    140'    0.048   0.285     0.051
    09-S12A       200'       0' to 40'     40'     0.037   0.166     0.039
                             100' to 160'  60'     0.048   0.211     0.051
    09-S13A       200'       0' to 200'    200'    0.038   0.206     0.041
    09-S14A       400'       0' to 380'    380'    0.033   0.127     0.034
    09-S15A       200'       0' to 200'    200'    0.039   0.185     0.042
    Zone A South - Weight Mean Average             0.037   0.190     0.039

    Zone B West
    09-S1B        200'       0' to 200'    200'    0.038   0.187     0.040
    09-S2B        200'       20' to 200'   180'    0.041   0.192     0.044
    Zone B West - Weight Mean Average              0.039   0.190     0.042

    Zone B East
    09-S3B        200'       0' to 180'    180'   0.023    0.085     0.024
    09-S4B        200'       80' to 200'   120'   0.025    0.105     0.027
    09-S5B        400'       0' to 360'    360'   0.024    0.097     0.025
    Zone B East - Weight Mean Average             0.024    0.095     0.025

    Zone B South
    09-S7B        400'       240' to 400'  160'   0.023    0.103     0.024
    09-S8B        200'       None
    09-S9B        400'       0' to 200'    200'   0.025    0.099     0.027
                             240' to 400'  160'   0.018    0.067     0.019
    09S-10B       200'       80' to 120'   40'    0.032    0.133     0.033
    09-S11B       200'       None
    09-S12B       400'       160' to 240'  80'    0.027    0.107     0.028
    09-S13B       200'       0' to 180'    180'   0.025    0.095     0.026
    09-S14B       200'       0' to 200'    200'   0.018    0.069     0.019
    09-S15B       400'       0' to 380'    380'   0.023    0.093     0.024
    Zone B South - Weight Mean Average            0.023    0.091     0.024

    (2) Au Equivalent calculated using:  $900/oz Au, $12/oz Ag

About Ireland Inc.

Based in Henderson, Nevada, Ireland Inc. is a minerals exploration and development company that is focused on the discovery and extraction of precious metals from mineral deposits in the Southwestern United States.

In 2007, Ireland acquired rights to two mining properties, both of which are prospective for gold and other minerals. In early 2008, Ireland completed the acquisition of the Columbus Project located near Tonopah, NV, where it has an option to acquire an additional 22,640 acres of adjacent mineral claims. Ireland also owns rights to acquire up to 100% of the Red Mountain Project in San Bernardino County, California.

Forward-Looking Statements

This document may include statements that constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, Ireland's limited operating history, future trends in mineral prices, the availability of capital, geological or mechanical difficulties affecting Ireland's planned geological work programs, and uncertainties surrounding estimates of mineralized material. There is no assurance that the test results reported in this document are indicative of extraction rates throughout the Columbus Project. Additional exploration work will be required to fully define the extent of the Columbus Project's mineralized areas and before proved or probable mineral reserves can be established. There is no assurance that the results of Ireland's pre-feasibility program will result in a decision to enter into commercial production. Ireland undertakes no obligation to update the forward looking statements in this document.

    IR CONTACTS:
    Terri MacInnis, Dir. of Investor Relations     Jerry Falkner, CFA
    Bibicoff + MacInnis, Inc.                      RJ Falkner & Company, Inc.
    818.379.8500                                   800.377.9893
    terri@bibimac.com                              info@rjfalkner.com

SOURCE Ireland Inc.