Summary of IRELAND INC. - Yahoo! Finance

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN

          OFFICERS.


2013 Executive Officer Compensation

On February 15, 2013, the board of directors (the "Board") of Ireland Inc. (the
"Company") amended the compensation packages for the Company's executive
officers. Retroactive to January 1, 2013, the Company's executive officers will
be entitled to cash compensation as follows:

Name      Position                                   Annual        Performance      Performance
                                                     Salary          Bonus A1         Bonus B2

Douglas   Chief Executive Officer, President        $250,000         $50,000          $50,000
D.G.      and Secretary
Birnie

Robert D. Chief Financial Officer and Treasurer     $90,000            None             None
McDougal

David Z.  Vice President of Finance and             $175,000         $25,000          $25,000
Strickler Administration

1. Payable upon the Company successfully completing 10 successful onsite gold extraction leach tests, the completion of which shall be reasonably determined by the Board.
2. Payable upon the closing price of the Company's common stock (as quoted by the principal market or exchange on which those shares trade) exceeding $1.25 per share for 20 consecutive trading days.

The Board also approved the grant of non-qualified stock purchase options to purchase up to 1,300,000 shares of the Company's common stock under the Company's 2007 Stock Incentive Plan at a price of $0.57 per share, vesting and expiring as follows:

 Douglas
  D.G.
 Birnie       Robert D.         David Z.
  Chief       McDougal          Strickler
Executive  Chief Financial   VP Finance and   Vesting Date                 Expiration Date
Officer,     Officer and     Administration
President     Treasurer
   and
Secretary
 75,000        37,500            50,000       March 31, 2013               March 31, 2018
 75,000        37,500            50,000       June 30, 2013                June 30, 2018
 75,000        37,500            50,000       September 30, 2013           September 30, 2018
 75,000        37,500            50,000       December 31, 2013            December 31, 2018
 150,000       75,000            100,000      The date that the            The date that is the
                                              Corporation successfully     5th year anniversary
                                              completes 10 successful      of the particular
                                              onsite gold extraction leach vesting date.
                                              tests, which date shall be
                                              reasonably determined by
                                              the Board.
 150,000       75,000            100,000      The first date after the     The date that is the
                                              Grant Date that the closing  5th year anniversary
                                              price for the Corporation's  of the particular
                                              common stock (as quoted      vesting date.
                                              by the principal market or
                                              exchange on which such
                                              shares trade) exceeds
                                              $1.25 per share for 20
                                              consecutive trading days.
 600,000       300,000           400,000      Total

Each of the options granted to Messrs. Birnie, McDougal and Strickler will automatically vest and become exercisable upon the occurrence of a change in control of the Company.

ITEM 8.01 OTHER EVENTS.

Grant of Options to Independent Director

Effective February 15, 2013 (the "Grant Date"), Ireland Inc. (the "Company")
granted to its sole independent director non-qualified stock options to purchase
an aggregate of 300,000 shares of the Company's common stock under the Company's
2007 Stock Incentive Plan at an exercise price of $0.57 per share. The options
vest, and expire, as follows:

Number of Options to Vest    Vesting Date     Expiration Date
         75,000             March 31, 2013     March 31, 2018
         75,000             June 30, 2013      June 30, 2018
         75,000           September 30, 2013 September 30, 2018
         75,000           December 31, 2013  December 31, 2018
         300,000          Total