Mr. Brian Kynoch reports

IMPERIAL ANNOUNCES AMENDMENT OF $34.47 MILLION OF NON-CONVERTIBLE DEBENTURES

Imperial Metals Corp. has amended certain terms of the unsecured non-convertible debentures issued by the company on June 30, 2023, in the aggregate principal amount of $34.47-million.

The debentures originally had a maturity date of July 1, 2024, and interest at a rate of 12.0 per cent per annum, with interest paid semi-annually in cash. The debentures have been amended to extend the maturity date to Nov. 1, 2025, and to include a 2-per-cent prepayment penalty on the outstanding principal amount in the event that the debentures are prepaid by the company prior to Nov. 1, 2025.

As previously disclosed, N. Murray Edwards purchased debentures in the amount of $21-million. In addition, directors and officers of the company purchased $1,185,000 of the debentures. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.

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.

We seek Safe Harbor.