Highlights:

• Assay results from the first four drillholes continue to return impressive intercepts of 99.8 m (327.3’) grading 299 g/t scandium oxide (Sc₂O₃), including 24.2 m (79.4’) grading 331 g/t Sc₂O₃ and 77.3 m (253.5′) grading 313 g/t Sc₂O₃.
• Elevated levels of total rare earth oxides plus yttrium (TREO+Y) of up to 0.46 % characterize the scandium-bearing intercepts.

• All drill assays have been received and the data has been transferred to our engineering group to complete the 43-101 resource estimation work on the TG Zone.

Imperial Mining Group Ltd. (TSX-V: IPG) (OTCQB: IMPNF) is pleased to announce that it has received the final batch of assays from the winter definition drill program on the Crater Lake TG scandium mineralized Zone. Assay results continue to return substantial intersection widths of scandium- and rare earth-bearing olivine ferrosyenite (Table 1) reported earlier (see Imperial press releases – April 28^th and May 27^th, 2021). A delay on delivery of the final results from the laboratory will push the date of the completion of the resource estimation into July but remains within anticipated delivery expectations.

“The final drilling results at the Crater Lake property continue to show consistently high grade and wide scandium and rare earth intersections over the entire TGZ mineralized system,” said Peter Cashin, Imperial’s President & Chief Executive Officer. “We are now in the process of delivering the project data to our consultants to commence 43-101 resource estimation work. Having drilled the northern lobe on 50 m centres, we believe that a portion of the resource will provide indicated as well as inferred category resources. With the resource estimation in hand, likely in July, and completion of our metallurgical flowsheet, we will commence work on delivering a Preliminary Economic Assessment (PEA) for the project some time this fall, as originally scheduled.”

DRILLING PROGRAM

In total, 14 drillholes for 2,084.8 m have been completed (Table 2, Figures 1, 2 and 3). All drillholes intersected the target mafic intrusive host rock which show a high degree of grade homogeneity. The drilling indicates that the TG scandium zone is doubly dipping between 83⁰ west to 70⁰ east, with a north-northeast strike direction. The widths of the mineralized zone vary between 55 and 135 m (180-443’) in true thickness. Mineralization is open at depth below the 200 m vertical level and along strike and appears as a thickening, conical-shaped body in cross-section.

Table 1 – Best Drillhole Assay 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.

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 726 samples, including 43 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.

Table 2 – Borehole Location Table – Crater Lake Project, Quebec

* Borehole Coordinate Datum : NAD83 Zone 20N

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.

Figure 1 – Crater Lake Drillhole Location Map

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Figure 2 – Diamond Drill Cross-Section 400N, TG Zone, Crater Lake Project, Quebec

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Figure 3 – Diamond Drill Cross-Section 600N, TG Zone, Crater Lake Project, Quebec

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