Ireland Inc. Receives Approval
for Amended Production Permit

Expanded Permit Allows for Increased
Production Volumes and Greater Mining Depth
on Columbus Project Drill Program Continuing

       HENDERSON, NV, July 8, 2008 - Ireland Inc. (IRLD) (the "Company"), a mining exploration and development company focused on the extraction of precious and base metals from mineral deposits in the Southwestern United States, today announced that the Nevada Department of Environmental Protection ("NDEP") has approved the amendments submitted by the Company for its Water Pollution Control Permit for the Columbus Project near Tonopah, Nevada.
       The amended permit allows the Company to mine up to 790,000 tons of raw materials per year, a ten-fold increase over the original permitted tonnage, and increases the depth to which the Company can mine at the Columbus Project to 40 feet, a 60% increase from the original 25 feet permitted depth. Certain other minor process modifications were also included in the approved amendments. Based on calculations completed by SRK Consulting, an independent international consulting and engineering firm hired by the Company, if the 320-acre permitted mine site area were mined at the maximum allowable rate of 790,000 tons of raw materials per year, there would be sufficient raw materials to allow the area to be mined continuously for a period of 11 years or more.
       "We are very pleased that our application to amend the production permit for the Columbus Project was approved," stated Douglas Birnie, Chief Executive Officer of the Company. "This represents the achievement of another significant milestone for the Columbus Project. We expect to install our 30 ton-per-day pilot processing module and report initial precious metal and calcium carbonate recovery results before year end."
       The Company also announced that it has completed drilling 14 holes of the 28-hole drill program currently underway within a 5,000-acre area of interest that is adjacent to the 320-acre area covered by the Company's existing mining permits. The drilling is being conducted by McEwen Geological LLC under chain-of-custody parameters, and splits have been taken from the drill samples and sent to two independent laboratories for analysis.
       "This phase of our drilling program follows the recently completed 18-hole drill program that was conducted within the permitted mine site area," continued Birnie. "Upon completion of the current phase of the exploration program, we expect to have a much better definition of the mineralization within the 5,000-acre area of interest that we have identified within the Columbus Basin."

About Ireland Inc.

       Ireland Inc. (IRLD) (the "Company") is a mining exploration and development company that is focused upon the extraction of precious and base metals from mineral deposits in the Southwestern United States.
       In 2007, the Company acquired the rights to acquire up to 100% of two mining properties, the Columbus Project and the Red Mountain Project, both of which are prospective for gold and other minerals. In early 2008, the Company completed the acquisition of the Columbus Project and also acquired a mining lease for an additional 23,000 acres of mineral claims adjacent to the Columbus Project, together with an option to purchase those additional mineral claims. The Company has also maintained its rights to acquire up to 100% of the Red Mountain Project, located in San Bernardino County, California. With $7.6 million in cash as of the end of its first fiscal quarter, the Company is well-positioned to move forward with its development programs for both projects.
       The Company is headquartered in Henderson, Nevada, and its common stock trades on the OTC Bulletin Board under the symbol "IRLD".
       For more information on Ireland Inc. contact Douglas Birnie, President and CEO at (702) 932-0353, Fax: (702) 932-0338. E-mail: dbirnie@irelandminerals.com or visit the website, www.irelandminerals.com.