Highlights:

• Assay results from a two-hole test drilling program of the STG Zone returned an impressive intercept of 115.8 m (379.9’) grading 252 g/t scandium oxide (Sc₂O₃), including 28.1 m (92.2’) grading 265 g/t Sc₂O₃ and 22.5 m (73.8’) grading 276 g/t Sc₂O₃.
• Elevated levels of total rare earth oxides plus yttrium (TREO+Y) of up to 0.475 % characterize the scandium-bearing horizon.

• 2021 channel sampling of the surface projection of the mineralization traced over a strike length of over 535 m (1,755’), returned up to 9.6 m grading 247 g/t Sc₂O₃ and 0.38% TREO+Y.
• In addition, an 18-tonne bulk sample from the new zone was collected and delivered to Sept-Iles, Quebec for use in a planned Pilot Mill study in 2022.

Imperial Mining Group Ltd. (TSX-V: IPG) (OTCQB: IMPNF) is pleased to announce that it has received significant scandium and rare earth assays from Crater Lake summer drilling over the new STG Zone, 2.0 km south of the TG North Lobe Resource (see Imperial Mining press release: September 23, 2021). Assay results were returned from the known host scandium-bearing olivine ferrosyenite. A total of 23 channel samples representing a cumulative length of 23.4 m (Figure 1) as well as assays from a two-hole, 345 m drill program were received from the assay lab.

“The summer program over the STG Zone came as little surprise and adds to the already significant scandium resource potential of the Crater Lake property,” said Peter Cashin, Imperial’s President & Chief Executive Officer. “What was particularly impressive was the strike length of the surface exposure of the new zone of at least 535 m. Future exploration programs will be oriented to expanding the areas of known mineralization and probe new mineralized target areas.”

CURRENT DRILLING AND CHANNEL SAMPLING PROGRAM

Table 1 – Best STG Zone Best Drilling Results, Crater Lake Project, Quebec

Table 2 –STG Zone Channel Sampling Best Results, Crater Lake Project, Quebec

NOTES: – 1 ppm of Sc metal equals 1.5338 ppm scandium oxide (Sc₂O₃) ; 1 g/t equals 1 ppm. TREO+Y includes oxides of La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb and Lu plus Y.

STG ZONE DRILLING

A two-hole drilling program for 345.1 m was undertaken to undercut positive channel sampling and geophysical results (Table 2, Figures 1-2) over the new zone. The drilling was completed on October 18, 2021.

SECTION 300S DRILLING

SECTION 150S DRILLING

Table 3 – STG Zone Borehole Location Table – Crater Lake Project, Quebec

* Borehole Coordinate Datum: NAD83 Zone 20N

QA-QC Protocol

Strict QA/QC protocols have been implemented for the Crater Lake Project, including the insertion of certified reference materials (standards), duplicates and blanks at regular intervals throughout the sequence of samples.

A total of 237 core samples and 23 channel samples, including 19 QA-QC samples, were sent to an analytical laboratory. All sample preparation and analytical work was carried out by Actlabs at their facilities in Ancaster, Ontario. Several analytical techniques were used to characterize the samples, which are combined at Actlabs into the analytical package “8-REE”. This package includes whole-rock and trace element analytic techniques. Whole Rock analyses are done via a lithium metaborate/tetraborate fusion inductively coupled plasma (ICP) finish. Trace elements are also analyzed by fusion ICP/MS.

The technical content in this press release was prepared, reviewed and certified by Pierre Guay, P.Geo., Imperial’s Vice-President, Exploration, a Geologist and Qualified Person as defined by NI43-101.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.