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Imperial Metals Corp.: Drilling at Red Chris East Ridge Intersects 170 Metres Grading 1.1g/t Gold and 1.1% Copper

Press Release

Vancouver | June 9, 2021 | Imperial Metals Corporation (the “Company”) (TSX:III) reports expanded high grade mineralization in the newly discovered East Ridge zone.

Results from East Ridge drill hole RC688, located 100 metres east of hole RC684, returned 344 metres of 0.70 g/t gold and 0.75% copper from a depth of 776 metres including 170 metres of 1.1 g/t gold and 1.1% copper.

Brian Kynoch, President of Imperial Metals, said, “This exciting new discovery at the East Ridge is located outside the envelope of the current mineral resource and has the potential to increase the already large mineral resource at Red Chris.”

In the Main Zone, hole RC683 returned 300 metres grading 0.41g/t gold and 0.51% copper from a depth of 260 metres, including 114 metres of 0.67g/t gold and 0.85% copper from a depth of 390 metres, and 22 metres of 1.1 g/t gold and 1.4% copper from a depth of 464 metres. Drilling in the Main Zone continues to confirm the potential to define further zones of higher-grade mineralization.

Red Chris – Significant results:

Hole ID From (m) To (m) Width (m) Gold (g/t) Copper (%)
RC683 260 560 300 0.41 0.51
including 390 504 114 0.67 0.85
including 464 486 22 1.1 1.4
RC684 814^ 1066^ 252^ 0.46 0.53
including 962^ 1060^ 98^ 0.85 0.86
including 970^^ 986^^ 16^^ 1.2 1.2
RC688 776 1120 344 0.70 0.75
including 892 1062 170 1.1 1.1
including 894 972 78 1.1 1.3

^ updated intercept or ^^ previously reported.

During the 2nd Quarter, there were up to eight diamond drill rigs in operation and an additional 15,342 metres of drilling was completed in 11 drill holes, with all drill holes intersecting mineralization (except for two dedicated geotechnical holes). Since Newcrest acquired its interest in the joint venture 111 drill holes, for a total of 136,631 metres of drilling, have been completed. The planned exploration program includes approximately 50,000 metres of drilling this year.

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 2020 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 section and plan view maps are available on 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.

Company Contacts

Brian Kynoch | President | 604.669.8959

Darb Dhillon | Chief Financial Officer | 604.488.2658

Jim Miller-Tait | Vice President Exploration | 604.488.2676

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