Mr. Khurram Shroff reports

IMINING ENTERS INTO AN LOI TO PURCHASE A PORTFOLIO OF POWER PLANTS IN ONTARIO WITH TOTAL CAPACITY OF 90 MW

iMining Technologies Inc. has entered into a letter of intent to acquire power plants with total power generation capacity of 90 megawatts. The value of the acquisition is subject to third party valuation and will be finalized pursuant to the execution of a final definitive agreement, following the due diligence period. This acquisition, along with other continuing acquisitions of power plants, reinforces iMining's vision to become an energy-first company.

The final structure of the acquisition is subject to receipt of tax, corporate and securities law advice and to regulatory approval. The company will announce financing plans around these projects prior to completion of the acquisition.

The power plants have the capacity to produce 90 megawatts of low-cost electricity. The project has existing agreements with the Ontario grid and supplies energy to the grid during highly profitable periods. The project will also generate power for other purposes to further drive profitability and provide a diversified revenue stream.

Khurram Shroff, chief executive officer of iMining, said, "The purchase of these power plants for our portfolio is in line with our ambitions to be an energy-first company, and this acquisition solidifies our future vision and strategy." He added, "Currently, the power plants are operated as grid-connected generators, and we intend to continue to operate the plants following the same strategy."

About iMining Technologies Inc.

iMining is a publicly traded company that invests in energy infrastructure, blockchain technology and the Web3.0 ecosystem. It is developing sustainable energy and technology solutions for data centre operations. With diverse investment and infrastructure solutions, iMining looks to be an energy-first company enabling the growth of future technologies and is committed to building a sustainable and environmentally friendly energy company of the future.

We seek Safe Harbor.