Mr. Brian Kynoch reports

IMPERIAL PROVIDES UPDATE ON MOUNT POLLEY

Imperial Metals Corp.'s 2024 metal production from Mount Polley was 35.7 million pounds of copper and 39,108 ounces of gold. The mine met its targets of 34 million to 37 million pounds for copper production and 37,000 to 41,000 ounces for gold production.

Red Chris production will be released when the reconciled information is received from Newmont Corp.

Mount Polley mine -- production

During the fourth quarter, 1,660,937 tonnes of ore were treated (up 6 per cent compared with Q4 (fourth quarter) 2023). During the quarter, 9,242,000 pounds copper (up 11 per cent from Q4 2023) and 9,564 ounces gold (down 7.6 per cent from Q4 2023) were produced.

Mount Polley mine -- exploration

The Mount Polley phase 2 exploration program in 2024, consisting of 6,758 metres in 27 diamond drill holes, had two objectives. The first was to complete near-pit drilling targeting the Springer pit rim and the C2 zone, located just south of the now combined Springer-Cariboo pit and close to the concentrator. The second was to test high-priority geophysical, structural, geochemical and geological targets outside of the active pit area.

The highlight of this drilling campaign is hole C2-24-115, which intersected 127.5 metres grading 0.72 per cent copper and 1.43 grams per tonne (g/t) gold, starting from 302.5 metres. The hole targeted a deeper, higher-grade C2 mineralization that had been intersected by three historic drill holes. Mineralized intervals in these three holes included hole C2-11-101, with 34.5 metres of 0.54 per cent copper and 0.95 g/t gold from 297.5 metres, hole C2-11-97, with 57.5 metres of 1.16 per cent copper and 2.07 g/t gold from 340.0 metres, and hole C2-11-100, with 64.3 metres of 0.72 per cent copper and 0.99 g/t gold from 382.5 metres. This mineralization is deep, but grades may be sufficient to consider underground mining. This zone is open to depth.

The other phase 2 holes in the C2 zone targeted near to surface mineralization and include a notable interval of 222 metres grading 0.45 per cent copper and 0.62 g/t gold starting from a depth of 18 metres (subcrop) in diamond drill hole C2-24-110.

An attached table includes significant intervals in the 2024 C2 zone drilling.

Historically, a small pit was excavated in the C2 zone adjacent to the ramp into the Cariboo pit and mineralization in this zone has a high gold to copper ratio. The 2024 near-surface drilling was conducted to see if the small C2 pit design could be expanded to take advantage of the current high gold price. The mineralization in this zone is centred approximately 900 metres southeast from the centre of the now combined Springer-Cariboo pit and close to the concentrator.

Two holes were drilled from the rim of the north end of the Springer pit to test an undrilled part of the phase 5 pushback in the Springer pit. Hole SD-24-201 intersected 93.7 metres grading 0.28 per cent copper and 0.37 g/t gold from 188.8 metres, and hole SD-24-202 intersected 82.5 metres grading 0.23 per cent copper and 0.26 g/t gold from a depth of 100 metres. The results from these holes will be used to update the block model in this relatively undrilled part of the Springer deposit.

The Gatehouse zone was a blind target located 600 metres east of the mill, and was targeted based on known structural trends, geology and geophysics. Hole GH-24-01 intersected 25 metres grading 0.30 per cent copper and 0.25 g/t gold starting at 147.5 metres. Drilling intersected low to moderately mineralized Mount Polley breccia in four out of five of the holes and remains open in all directions. This zone intersected mineralization consisting of monzonite to monzodiorite with weak to strong breccia textures and strong reddening of potassium feldspar. The mineralization and geology are similar to the southeastern zone (previously mined Mount Polley deposit), located 650 metres southeast of the Gatehouse zone target along a geophysical trend.

The drill holes in the Wishbone zone were on blind targets located near the Wight pit, approximately 2,500 metres north-northeast of the mill. The targets were based upon geophysics, geology, structure and soil geochemistry. Hole WB-24-264 intersected 4.86 metres grading 2.33 per cent copper, 5.58 g/t gold and 12.18 g/t silver from 75.94 metres. Mineralization consisted of an intense magnetite and chalcopyrite breccia that is very similar to the Boundary zone (previously mined Mount Polley deposit).

The results of this exploration program will be assessed and follow-up drilling considered.

Brian Kynoch, PEng, Imperial's president, has reviewed the production disclosures contained in this news release and is the designated qualified person as defined by National Instrument 43-101.

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.

Diamond drill data, cross-sections and plan view maps are available on the company's website.

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.

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