Imperial Announces Normal Course Issuer Bid

Press Release

Vancouver — October 16, 2014 | Imperial Metals Corporation (III-TSX) — Imperial announces that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s Notice of Intention to make a Normal Course Issuer Bid (the “Bid”) to be transacted through the facilities of the TSX or alternative Canadian market places.

Pursuant to the Bid, the Company may purchase up to 2,024,130 common shares, which represents 2.7% of the total 74,967,768 common shares of the Company issued and outstanding as of October 3, 2014. Purchases will be made, at the discretion of the Company at prevailing market prices, commencing October 20, 2014 and ending no later than October 19, 2015. Pursuant to TSX policies, daily purchases made by the Company will not exceed 27,484 common shares or 25% of the Company’s average daily trading volume of 109,939 common shares on the TSX, subject to certain prescribed exceptions. The shares acquired under the Bid will either be cancelled or used to satisfy the Company’s obligations under its Non-Management Directors’ Plan and Share Purchase Plan (the “Plans”). The funding for any purchase pursuant to the Bid will be financed out of the working capital of the Company.

The Board of Directors believes the underlying value of the Company may not be reflected in the current market price of its common shares, and the Board has determined that the Bid is in the best interest of the Company and its shareholders. In the previous 12 months, the Company has repurchased 53,100 of its outstanding common shares at the average price per share of $13.23. The common shares have or will be allocated to satisfy the Company’s obligations under the Plans.

A copy of the Company’s Notice filed with the TSX may be obtained, by any shareholder without charge, by contacting the Company’s Chief Financial Officer.

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About Imperial

Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company operates the Mount Polley copper/gold mine in British Columbia and the Sterling gold mine in Nevada. Imperial has 50% interest in the Huckleberry copper mine and has 50% interest in the Ruddock Creek lead/zinc property, both in British Columbia. Imperial is in development of its wholly owned Red Chris copper/gold property in British Columbia.

Imperial Contact Information

Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Sabine Goetz | Shareholder Communications | 604.488.2657 | investor@imperialmetals.com

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