1166338--3/26/2009--IRELAND

related topics

{cost, contract, operation}

{gas, price, oil}

{loss, insurance, financial}

{stock, price, share}

{interest, director, officer}

{cost, operation, labor}

{personnel, key, retain}

Although we have begun operation of a pilot production module for the Columbus Project, there is no assurance that this project is commercially feasible. Additional exploration work is required before proved or probable reserves can be established. If we do not obtain additional financing, we may not be able to complete our exploration and development programs for our mineral projects. If we complete additional financings through the sale of shares of our common stock, our existing stockholders will experience dilution. In order to maintain our rights to the Columbus Project, Red Mountain Project and Ireland Claim, we will be required to make annual filings with federal and state regulatory agencies and/or be required to complete assessment work on those properties. Because we are an exploration stage company, we face a high risk of business failure. Because we anticipate our operating expenses will increase prior to our earning revenues, we may never achieve profitability. Because of the speculative nature of exploration of mining properties, there is substantial risk that no commercially exploitable minerals will be found and our business will fail. Because of the inherent dangers involved in mineral exploration, there is a risk that we may incur liability or damages if and when we conduct mineral exploration activities. Even if we discover commercial reserves of precious metals on our optioned mineral claims, we may not be able to successfully reach commercial production. Even if we can successfully reach commercial production, any change to mining laws or regulations or levy of additional taxes in the future may make our planned production process nonviable economically. If we are unable to hire and retain key personnel, we may not be able to implement our business plan and our business will fail. Because our executive officers do not have formal training specific to the technicalities of mineral exploration, there is a higher risk our business will fail. As we undertake exploration of our optioned mineral claims, we will be subject to compliance with government regulation that may increase the anticipated cost of our exploration program. Certain work to be performed on our mineral projects may require us to apply for permits from federal, state or local regulatory bodies. If we receive positive results from our exploration program and we decide to pursue commercial production, we may be subject to an environmental review process that may delay or prohibit commercial production. The market for our common stock is limited and investors may have difficulty selling their stock. Because our common stock is a penny stock, stockholders may be further limited in their ability to sell their shares. No Assurance That Forward Looking Assessments Will Be Realized.

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1166338--3/26/2009--IRELAND_INC.