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Drilling at Red Chris East Ridge intersects 170 meters grading 1.1g / t gold and 1.1% copper

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Drilling at Red Chris East Ridge intersects 170 meters grading 1.1g / t gold and 1.1% copper

VANCOUVER, British Columbia, June 9, 2021 (GLOBE NEWSWIRE) – Imperial Metals Corporation (the “Company”) (TSX: III) reports high grade expanded mineralization in the recently discovered East Ridge zone.

Results from the East Ridge RC688 drill hole, located 100 meters east of the RC684 well, returned 344 meters of 0.70 g / t gold and 0.75% copper from a depth of 776 meters, including 170 meters of 1 , 1 g / t of gold and 1.1% of copper.

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

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

Red Chris – Significant results:

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

^ Updated interception or ^^ previously reported.

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

Jim Miller-Tait, P. Geo., Vice President of Exploration for Imperial Metals, is the designated Qualified Person as defined by National Instrument 43-101 for the Red Chris exploration program and has reviewed this press release. The Red Chris samples for the reported 2020 drilling were analyzed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA / QC program was completed using blanks, standards, and duplicates for all diamond drill samples sent to the labs. Reported significant test intervals represent apparent widths. Not enough geological information is available to confirm the geological model and the true width of the significant test intervals.

Cross section and plan view maps are available at imperialmetals.com.

About Imperial

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

Company Contacts

Brian Kynoch | President | 604.669.8959
Darb dhillon | CFO | 604.488.2658
Jim Miller-Tait | Exploration Vice President | 604.488.2676

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release are not statements of historical fact and are “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of the Company’s management regarding future events and include, but are not limited to, statements regarding the Company’s expectations regarding drilling programs. current and planned at Red Chris, including plans. to define the extent and continuity of mineralization in the East Ridge Zone and statements regarding the potential to increase mineral resources at the Red Chris mine site.

In certain cases, forward-looking statements may be identified by the use of words such as “plans”, “expects” or “does not expect”, “expected”, “prospect”, “budget”, “scheduled”, “estimates”, ” predicts ”,“ intends ”,“ anticipates ”or“ does not anticipate ”, or“ believes ”, or variations of such words and phrases or statements that certain actions, events or results“ may ”,“ could ”,“ could ”,” could “or” be taken “,” occur “or” achieved “or the negative of these terms or comparable terminology. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the results, the actual performance or achievements of the Company are materially different from any future results, performance or achievements expressed or implied in the future.look statements.

In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the information currently available to the Company, as well as the Company’s current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in the Company’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are on file and available for your review. review on SEDAR at www.sedar. .com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events, or results to be different from those anticipated, estimated, or anticipated. , many of which are beyond the company’s ability to control or predict. There can be no guarantee that forward-looking statements will be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this press release are qualified by these cautionary statements. Such information is provided only as of the date of this press release. The company assumes no obligation to update its forward-looking information to reflect new information, subsequent events, or otherwise, except as required by law.

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