Imperial Reports Red Chris Production for 2019 Third Quarter

Press Release

Vancouver | October 23 , 2019 | Imperial Metals Corporation (the “Company”) (TSX:III) reports production at the Red Chris mine for the 2019 third quarter was 19.5 million pounds copper and 8,419 ounces gold. These results represent 100% of production at Red Chris. Copper and gold production were up 11% in the third quarter compared to the second quarter of 2019. Mill throughput for the quarter averaged 30,568 tonnes per calendar day.

As previously announced, Imperial completed the sale of a 70% interest in the Red Chris mine to Newcrest Mining Limited on August 15, 2019. Imperial’s portion of the third quarter production was 13.1 million pounds copper and 5,634 ounces gold representing 100% of production for the period July 1 through August 14, 2019, and 30% of production for the period August 15 through September 30, 2019.

Exploration drilling commenced during the third quarter with four drills currently operational. It is expected that two more drill rigs will begin drilling during the fourth quarter. Drilling will test the upside of the East Zone, Main Zone and Gully Zone and a number of regional targets. At the East Zone, a deep in-fill resource definition drilling program is underway to provide additional geological, metallurgical and geotechnical data to support studies for future underground operations. A new step out exploration drilling program is underway searching for additional zones of high grade mineralization within the main mineralized trend. Drilling is also being conducted in the Gully Zone to follow up previous high grade intercepts.

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About Imperial

Imperial is a Vancouver 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. Imperial also holds a 48% interest in the Ruddock Creek lead/zinc property.

Company Contacts

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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