Mr. Brian Kynoch reports

IMPERIAL DRILLING INTERSECTS 162.5 METRES GRADING 0.50% COPPER AND 0.52 G/T GOLD AT MOUNT POLLEY

Imperial Metals Corp. has released diamond drill results from the Mount Polley 2023 exploration program. Five diamond drill holes totalling 2,720 metres were successful in intercepting mineralization in an underexplored area between the Springer and Cariboo mineralized zones.

All the holes intersected mineralization in the undrilled area between the Springer and Cariboo zones. The results included some higher-grade intervals highlighted by the 162.5-metre interval grading 0.50 per cent copper and 0.52 gram per tonne gold from 30 metres in SD-23-167. The results will increase the resource in the Springer zone and with the proximity to existing mining and planned pits, mineralization discovered in this area has a good potential to be converted from resource to reserve. The Springer zone contains most of the reserves in the current mine plan. Historic drilling in the Springer zone confirms that the mineralization continues 250 metres below the currently planned Springer pit and that it is open to the east.

Brian Kynoch, president of Imperial, said, "This drilling, along with the planned drilling to further test the Springer zone to the east beneath the current ultimate pit, may enable the ultimate pit to be expanded and extend the Mount Polley mine life."

The significant intervals in the five holes are included in the attached table.

All five drill holes are vertical and were collared in the current Springer pit. The results from the five drill holes are displayed herein.

SD-23-163, collared about 150 metres east of SD-12-153 on Section 3160N, intersected 0.27 per cent copper and 0.31 g/t gold over 85 metres from 125 metres and 0.20 per cent copper and 0.31 g/t gold over 210 metres from 280 metres.

SD-23-164 was collared about 50 metres west of known Springer mineralization on Section 3210N. It intersected a long interval of mineralization grading 0.26 per cent copper and 0.37 g/t gold over 451 metres from 80 metres, and a higher-grade zone grading 0.40 per cent copper and 0.76 g/t gold over 85 metres from 307.5 metres.

SD-23-165 is a 50-metre stepout to the east of SD-12-153 on Section 3160N. It intersected 0.35 per cent copper and 0.57 g/t gold over 182.5 metres from 270 metres, and a higher-grade zone grading 0.40 per cent copper and 0.65 g/t gold over 117.5 metres from 295 metres.

SD-23-166 is a 50-metre stepout to the east of SD-12-147 on Section 3260N. It intersected 0.46 per cent copper and 0.57 g/t gold over 159.03 metres from 150.97 metres.

SD-23-167 is a 100-metre stepout to the east of SD-13-157 on Section 3320N. It intersected 0.50 per cent copper and 0.52 g/t gold over 162.5 metres from 30 metres and includes a higher-grade zone grading 0.82 per cent copper and 0.81 g/t gold over 47.5 metres from 92.5 metres.

Drilling to further explore the undrilled gap between the Springer and Cariboo pits at depth is planned for the second quarter of 2023, along with preliminary pit design work to determine how this drilling may impact future pit designs.

Jim Miller-Tait, PGeo, Imperial's vice-president of exploration, has reviewed this news release as the designated qualified person as defined by National Instrument 43-101 for the Mount Polley exploration program. Samples reported were analyzed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC (quality assurance/quality control) 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.

About Imperial Metals Corp.

Imperial is a Vancouver-based exploration, mine development and operating company with holdings that include the Mount Polley mine (100 per cent), the Huckleberry mine (100 per cent) and the Red Chris mine (30 per cent). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia. These properties have defined areas of mineralization and clear exploration potential. Management continues to evaluate various opportunities to advance many of these properties.

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