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Option 1 states that Exercise IBSAMAR is a joint exercise of the navies of India, Brazil, and Sri Lanka. This means that these three countries come together to participate in this exercise. This statement is correct based on the information provided.
Option 2 states that the fifth edition of IBSAMAR was held in Goa. This means that the exercise took place in Goa during its fifth edition. This statement is not mentioned in the question, so we cannot determine if it is correct or incorrect based on the given information.
Option 3 states that all previous editions of IBSAMAR were held outside India. This implies that the previous editions of the exercise were conducted in locations other than India. This statement is also not mentioned in the question, so we cannot determine if it is correct or incorrect based on the given information.
From the given options, only option 1 is mentioned in the question, and it is correct. Therefore, the correct answer is option 1, which states that only statement 1 is correct.