Imperial Metals Corporation (TSX:III) reports further drilling results continue to expand the mineralization at the East Ridge zone at the Red Chris mine. Hole RC739 returned 390 metres at 0.48% copper and 0.63 g/t gold from 1,088 metres, including 44 metres at 1.3% copper and 2.0 g/t gold from 1,402 metres. This hole is located 100 metres east of RC727 (previously reported). Hole RC745 located a further 100 metres east of RC739, returned 366 metres of 0.57% copper and 0.45 g/t gold from 728 metres, including 36 metres at 1.2% copper and 1.4 g/t gold from 960 metres. The mineralization at East Ridge is open to the east and at depth with ongoing drilling to define the extents.

Brian Kynoch, President of Imperial Metals, said, “The East Ridge zone is well located, as the exploration ramp being driven to access the top of the deep East Zone is about 200 metres to the north of the East Ridge zone and could provide access for both underground drilling and potentially underground development. Drilling continues to expand the zone, with drillhole RC739 located 100 metres east of RC727 returning 390 metres grading 0.48% copper and 0.63 g/t gold, including a 44 metre interval grading 1.3% copper and 2.0 g/t gold.”

Red Chris – Significant results since the September 2021 Quarterly Exploration Report:

The East Ridge zone, located in the porphyry corridor about 300 metres along strike east of the East Zone, is outside of the current Mineral Resource estimate. The drilling has confirmed continuity of the East Ridge zone mineralization (>0.4% copper and >0.4 g/t gold) over dimensions of 600 metre high, 500 metre long and 125 metre wide, and with the higher grade (>0.8% copper and >0.8 g/t gold) over 500 metre high, 300 metre long and 100 metre wide. The mineralization remains open to the east and at depth. Drilling is ongoing with 18 holes completed and four in progress. The follow up drilling is being completed with angle holes on a nominal 100 metre by 100 metre grid.

The Company has taken initial steps towards recommencement of operations at Mount Polley mine. Stripping operations began in November and about 344,000 tonnes of material were mined during the month. This work is being undertaken to complete the stripping required to enable milling operations to restart in 2022. Mechanical and electrical contractors continue to work on refurbishing the plant, including work on tailings slurry and reclaim water pipelines and pumps, crushers, conveyors, screens, grinding mills and plant water systems. In early December, the crushing plant was commissioned and a trial of the crushing plant was successfully completed providing crush material for winter road maintenance. The Mount Polley management team is targeting the plant to be ready for a Spring 2022 restart of plant operations.

Jim Miller-Tait, P.Geo., Imperial Metals Vice President Exploration, is the designated Qualified Person as defined by National Instrument 43-101 for the Red Chris exploration program and has reviewed this news release.  Red Chris samples for the 2021 drilling 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 sections, drillhole data and plan view map are available on the Company’s website at www.imperialmetals.com.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia.