Imperial Metals Corporation (TSX:III) reports diamond drill results from the final five holes of the second phase of the Mount Polley 2023 exploration program, including a notable interval of 230.1 metres grading 0.31% copper and 0.50 g/t gold starting from a depth of 7.4 metres in hole SD-23-172. The second phase of drilling was completed in June to follow up on the significant results obtained in the first phase of drilling. Both phases were conducted in an underexplored area between the Springer and Cariboo mineralized zones.

Results from the first five of the ten holes drilled in the second phase were previously released on July 18^th, 2023, and the final five holes are described in this news release. The 2023 exploration program results have increased the dimensions of the Springer zone mineralization. This mineralization has good potential to be converted from resource to reserve due to its proximity to existing mining and planned pits.

Brian Kynoch, President of Imperial, said, “There continues to be opportunity to expand the Springer mineralization, especially at depth, and a follow-up program will be designed to further test the Springer zone. The results of this year’s drilling will be integrated into the block model and the life of mine plan for Mount Polley will be updated.”

The significant intervals in the five holes are included in the table below.

Significant intercepts:

All five drill holes are vertical and were collared in the Springer pit.

SD-23 172 is an infill hole 35 metres to the west of hole SD-23-168 on Section 3315N testing a significant gap on the northern/eastern edge of the Springer Main zone. It intersected 0.31% copper and 0.50 g/t gold over 230.1 metres from 7.4 metres.

SD-23 173 is step-out hole 35 metres to the south-east of hole SD-23-166 on Section 3225N expanding the eastern limits of the Springer zone towards the Polley Fault. It intersected 0.55% copper and 0.69 g/t gold over 80 metres from 215.0 metres.

SD-23 174 is an in-fill hole 40 metres to the west of hole SD-23-166 on Section 3245N upgrading the eastern edges of the Springer zone. It intersected 0.36% copper and 0.37 g/t gold over 251 metres from 21.5 metres.

SD-23 176 is a step-out hole 70 metres to the south-east of hole SD-23-165 on Section 3135N testing the eastern edges of the Springer zone. It intersected 0.34% copper and 0.39 g/t gold over 107.5 metres from 265 metres.

SD-23 177 is an in-fill hole 25 metres to the south of hole SD-23-167 on Section 3290N upgrading model confidence in the eastern extents of the Springer zone. It intersected 0.34% copper and 0.31 g/t gold over 222 metres from 3 metres.

Jim Miller-Tait, P.Geo., Imperial’s VP Exploration, has reviewed this news release as the designated Qualified Person as defined by National Instrument 43-101 for the Mount Polley exploration program. Samples reported were analysed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs. Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.

Cross section and plan view maps are available on Imperialmetals.com.

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 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 advance many of these properties.