Imperial Drilling Intersects 270 Meters Grading 0.65% Copper and 0.48 G/t Gold at Mount Polley

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VANCOUVER British Columbia, April 29, 2024 (GLOBE NEWSWIRE) — Imperial Metals Corporation (“Imperial” or the “Company”) (TSX:III) reports partial diamond drilling results from the Mount Polley 2024 exploration program, including a notable 270 meter interval grading 0.65% copper and 0.48 g/t gold on 22.5 meter diamond drill hole SD-24-179. Drilling is ongoing and 4,983 meters have been completed in 20 holes to date. The 2024 program is intended to build on last year’s successful drilling in the Springer Zone.

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Hole SD-24-179 was a vertical hole on section 3230N and was designed to target significant gaps in the southern/western portion of the Springer Zone mineralization at both shallow and deep depths. This mineralization has good potential for conversion from a resource to a reserve due to its proximity to existing mining and proposed pits. The first 158.0 meters of this section are in the current ultimate pit design for the Springer pit. The portion of this hole below the final pit tests an area that has been investigated for potential underground mining.

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Significant sections:

The borehole was drilled on tailings in the Springer pit and cased to the first recoverable core at a depth of 21 meters. Throughout the hole, the lithology alternates between intense crackle breccia, moderately pseudobrecciated monzonite and monzodiorite with strong potassium feldspar, biotite, calc silicate, albite and magnetite alteration. The copper mineralization throughout the hole consists predominantly of disseminated and veined chalcopyrite and trace amounts of bornite. Pervasive calcareous silicate and magnetite skarn alteration containing up to 27% iron was intersected three times within the hole and provides pockets of higher chalcopyrite content.

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Holes TZ-24-04, TZ-24-05 and TZ-24-06 were drilled on the northeast edge of the Cariboo pit. The TZ holes are production planning holes and are part of a geochemical classification program that will help determine the acidification potential of rocks excavated during the Mount Polley Phase 5 pit expansion. Short, mineralized intervals were intersected. These drill results are available on the Company’s website.

Jim Miller-Tait, P.Geo., Imperial’s VP Exploration, has reviewed this news release as a qualified person under National Instrument 43-101 for the Mount Polley exploration program. Reported samples were analyzed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program with blanks, standards and duplicates was performed on all diamond drill samples submitted to laboratories. Significant assay intervals reported represent apparent thicknesses. There is insufficient geologic information to confirm the geologic model and true thickness of significant assay intervals.

Diamond drill data, cross sections and plan view maps are available at Maps | available Imperial metals.

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About Imperial

Imperial is a Vancouver-based exploration, mine development and operating company with interests that include the Mount Polley Mine (100%), the Huckleberry Mine (100%) and the Red Chris Mine (30%). Imperial also owns a portfolio of 23 greenfield exploration properties in British Columbia. These properties have defined areas of mineralization and clear exploration potential. Management continues to evaluate various opportunities to further develop many of these properties.

Company contacts

Brian Kynoch | president | 604.669.8959
Jim Miller Tait | VP Exploration |
[email protected]

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this press release does not constitute statements of historical fact but rather constitutes “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect the Company’s management’s expectations or beliefs regarding future events. These include, but are not limited to, statements regarding the Company’s expectations regarding current and planned exploration drilling programs at Mount Polley and the timing thereof; the potential for conversion of mineralization from a resource to a reserve; the potential for mine life extension; and the impact of drilling on future pit designs, underground mining and the mine life plan. In certain cases, forward-looking statements may be identified by the use of words such as “plans,” “expects,” or “does not expect,” “is expected,” “outlook,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “does not anticipate,” or “believes,” or variations of such words and phrases, or statements that certain actions, events, or results “could,” “could,” “would,” “could,” or “will.” are taken”, “occur” or “are achieved” or the negation of these terms or comparable terminology. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied. looking statements.

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In making forward-looking statements in this press release, the Company has used certain factors and assumptions based on information currently available to the Company and the Company’s current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include the risk factors set forth from time to time in the Company’s interim and annual financial statements and in management’s discussion and analysis of these statements. All of these factors are filed and available for review on SEDAR+ at www.sedarplus.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to differ Expectations, estimates or expectations match Many of these are beyond the company’s control or prediction. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements, and all forward-looking statements in this press release are qualified by these cautionary statements.

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