Imperial Metals Corporation (TSX:III) reports assay results from its spring 2026 diamond drilling program at the Porcher Island property, located 35 kilometres south-southwest of Prince Rupert, British Columbia (see Figure 1).

Ten drill holes totalling 1,380 metres were completed from four helicopter supported drill pads. All drill holes intersected gold and silver mineralization.

Significant Intervals from the 2026 program include:

Table 1: Porcher Island 2026 Drilling – Significant Intercepts

*Reported intersections based on a 0.1 g/t gold cut-off with a maximum of 5 metre internal dilution below cut-off.

The Porcher Island property (100% owned by Imperial) is located on the northwest corner of Porcher Island on the northern coast of British Columbia. It hosts two past producing gold mines, Edye Pass and Surf Point mines, that operated from 1919 to 1939 when the last operating mill burned down. Historic production is estimated at 77,952 tons grading 0.29 oz/ton gold from both mines.

Gold mineralization is hosted in shear zones and quartz veins developed within a quartz diorite stock. Gold is associated with pyrite occurring as disseminations, stringers and semi-massive accumulations, with trace chalcopyrite and molybdenum, and elevated tellurium.

In 2007, nine angled drill holes completed from three south-dipping drill fans intersected multiple intervals grading more than 2.0 g/t gold. The drilling outlined a cluster of near surface gold mineralization now known as the Christmas Tree zone (see Figure 2).

Figure 1: Plan Map of site showing the location of the drill pads

Table 2: Significant intersections from the 2007 drilling program on the Christmas Tree zone include:

The strongest gold intercept from the 2026 program was returned from drill hole PI-26-10 in the Christmas Tree zone. Drilled vertically from the same pad used for the 2007 holes, PI-26-10 tested the zone’s northern extension and intersected 45.5 metres grading 1.24 g/t gold, including 17.0 metres grading 2.25 g/t gold and 5.0 metres grading 5.51 g/t gold.

The three other drill pads used during the 2026 program were positioned along structures north and west of the Christmas Tree zone and tested the down-dip extensions of gold-bearing quartz veins sampled in historical underground workings. Significant intercepts include 4.5 metres grading 4.77 g/t gold from 75.5 metres in drill hole PI-26-02 and 2.3 metres grading 3.63 g/t gold from 12.0 metres in drill hole PI-26-08.

The 2026 drill results will be integrated into the existing project database and interpreted to support planning for additional exploration at the Porcher Island property. In the current strong gold price environment, Imperial will continue to pursue options to reveal value at Porcher Island project, including completing ore sorting test work to consider the potential for direct ore shipping. This concept is highly attractive for a project like Porcher Island since it sits at tide water for ease of ocean transportation options and also would eliminate the need for a processing plant or tailings storage. This would significantly reduce capital requirements and environmental footprint of a potential mining operation.

Figure 2: Figure showing cross section plan map and cross section of Christmas Tree zone

Jim Miller-Tait, P.Geo., Imperial’s Vice President Exploration, has reviewed this news release as the designated Qualified Person as defined by National Instrument 43-101 for the Porcher Island exploration program.

The Porcher Island samples reported were analyzed at Activation Laboratories Ltd. located in Kamloops. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs. Reported assay intervals represent apparent widths of mineralization. Insufficient geological information is available to confirm the geological model and true width of the mineralized intervals.

Table 3: 2026 Complete Drillhole data

Porcher Island Project, British Columbia, Canada

Reporting Criteria: Intercepts reported are downhole drill width (not true width). Gold and silver grades are reported to two significant figures. Samples are from core drilling which is NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core NQ samples are prepared for assay and the remaining material is retained in the core lay down area for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Reported intersections based on a 0.1 g/t gold cut-off with a maximum of 5 metre internal dilution below cut-off.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 21 exploration properties in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959
Jim Miller-Tait | Vice President Exploration | jim.miller-tait@imperialmetals.com
Steve Robertson | Vice President Corporate Development | 604.669.8959