Imperial Drilling Intersects 230.1 Metres Grading 0.31% Copper and 0.50 g/t Gold at Mount Polley
News Release
Imperial Drilling Intersects 230.1 Metres Grading 0.31% Copper and 0.50 g/t Gold at Mount Polley
Vancouver | August 14, 2023 | Imperial Metals Corporation (“Imperial” or the “Company”) (TSX:III) reports diamond drill
results from the final five holes of the second phase of the Mount Polley 2023 exploration program, including a notable
interval of 230.1 metres grading 0.31% copper and 0.50 g/t gold starting from a depth of 7.4 metres in hole SD-23-172.
The second phase of drilling was completed in June to follow up on the significant results obtained in the first phase of
drilling. Both phases were conducted in an underexplored area between the Springer and Cariboo mineralized zones.
Results from the first five of the ten holes drilled in the second phase were previously released on July 18 th, 2023, and
the final five holes are described in this news release. The 2023 exploration program results have increased the
dimensions of the Springer zone mineralization . This mineralization has good potential to be converted from resource
to reserve due to its proximity to existing mining and planned pits.
Brian Kynoch, President of Imperial, said, “ There continues to be opportunity to expand the Springer mineralization,
especially at depth, and a follow-up program will be designed to further test the Springer zone. The results of this year’s
drilling will be integrated into the block model and the life of mine plan for Mount Polley will be updated.”
The significant intervals in the five holes are included in the table below.
Significant intercepts:
Hole ID From (m) To (m) Width (m) Copper (%) Gold (g/t)
SD-23-172 7.4 237.5 230.1 0.31 0.50
including 7.4 80.0 72.6 0.41 0.62
and 120.0 220.0 100.0 0.33 0.57
SD-23-173 215.0 295.0 80.0 0.55 0.69
and 315.9 324.0 8.1 0.50 0.62
SD-23-174 21.5 272.5 251.0 0.36 0.37
including 152.5 207.5 55.0 0.59 0.73
SD-23-176 265.0 372.5 107.5 0.34 0.39
including 320.0 342.5 22.5 0.52 0.58
SD-23-177 3.0 225.0 222.0 0.34 0.31
and 150.0 200.0 50.0 0.61 0.63
All five drill holes are vertical and were collared in the Springer pit.
SD-23 172 is an infill hole 35 metres to the west of hole SD-23-168 on Section 3315N testing a significant gap on the
northern/eastern edge of the Springer Main zone. It intersected 0.31% copper and 0.50 g/t gold over 230.1 metres from
7.4 metres.
SD-23 173 is step-out hole 35 metres to the south-east of hole SD-23-166 on Section 3225N expanding the eastern limits
of the Springer zone towards the Polley Fault. It intersected 0.55% copper and 0.69 g/t gold over 80 metres from 215 .0
metres.
SD-23 174 is an in-fill hole 40 metres to the west of hole SD-23-166 on Section 3245N upgrading the eastern edges of
the Springer zone. It intersected 0.36% copper and 0.37 g/t gold over 251 metres from 21.5 metres.
SD-23 176 is a step-out hole 70 metres to the south-east of hole SD-23-165 on Section 3135N testing the eastern edges
of the Springer zone. It intersected 0.34% copper and 0.39 g/t gold over 107.5 metres from 265 metres.
SD-23 177 is an in-fill hole 25 metres to the south of hole SD-23-167 on Section 3290N upgrading mo del confidence in
the eastern extents of the Springer zone. It intersected 0.34% copper and 0.31 g/t gold over 222 metres from 3 metres.
Jim Miller-Tait, P.Geo., Imperial’s VP 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 analysed at
Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC 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.
Cross section and plan view maps are available on Imperialmetals.com.
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About Imperial
Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the
Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio
of 23 greenfield exploration properties in British Columbia. These properties have defined areas of minerali zation and
clear exploration potential. Management continues to evaluate various opportunities to advance many of these
properties.
Company Contacts
Brian Kynoch | President | 604.669.8959
Jim Miller-Tait | VP Exploration | [email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news 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 Company’s management’s expectations
or beliefs regarding future events and include, but are not limited to, statements regarding the Company’s expectations with
respect to current and planned exploration drilling programs at Mount Polley and timing thereof; the potential for mineralization
to be converted from resource to reserve; the expansion of the Springer mineralization; the design of a follow-up program to test
the Springer zone; and the impact of drilling on future pit designs and mine life schedule. In certain cases, forward-looking
statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget",
"scheduled", "estimates", "forecasts", "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", "would", "might" or "will be taken", "occur" or
"be 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 which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-
looking statements.
In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that are
based on 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 filed and available for
review on SEDAR+ at sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Company’s ability
to control or predict. There can be no assurance that forward-looking statements will prove to 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 news release are qualified by these cautionary
statements.