Imperial Provides Update on Red Chris Exploration
imperialmetals.com
News Release
Imperial Provides Update on Red Chris Exploration
Vancouver | March 22, 2022 | Imperial Metals Corporation (the “Company”) (TSX:III) reports that eight drill rigs are now
operating at Red Chris with five focusing on East Ridge exploration and three gathering geotechnical information for
infrastructure related to the development of a block cave.
Hole RC750W was drilled in the East Ridge zone . The East Ridge zone is outside of the current Mineral Resource estimate .
Hole RC750W, which is located approximately 100 met res beneath RC739, intercepted 166 metres of 0.33% copper and
0.26 g/t gold from 1194 metres and 96 metres of 0.61% copper and 0.77 g/t gold from 1454 metres including 46 metres of
1.0% copper and 1.3 g/t gold from 1502 metres. Hole RC750W also intercepted 82 metres of 0.61% copper and 0.69g/t
gold from 1578 metres.
Drill holes RC753, RC765 and RC775 were collared at the western edge of the Main Zone pit and continue to expand the
Main Zone mineralization west towards the Gully Zone. All three holes intersected wide zones of mineralization, with
RC753 hitting 364 metres of 0.31% copper and 0.29 g/t gold beginning at a relatively shallow depth of 108 met res from
surface. Results from RC765 include higher grade intervals of 56 metres of 0.78% copper and 0.72 g/t gold within a larger
interval of 294 metres grading 0.29% copper and 0.30 g/t gold and 40 met res of 0.54% copper and 0.62 g/t gold within
132 metres grading 0.37% copper and 0.39 g/t gold.
These results continue to illustrate the potential to outline additional higher-grade zones within the Main Zone.
The exploration decline has now progressed to 1,000 metres as of March 10, 2022. Key supporting infrastructure for the
decline has been established, including underground heating, underground pumping station , workshop, warehouse and
changeroom
Jim Miller-Tait, P.Geo., Imperial VP Exploration, is the designated Qualified Person as defined by National Instrument 43-101
for the Red Chris exploration program and has reviewed this news release. Red Chris samples for the 2021 drilling 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
Drill Holes From
(m)
To
(m)
Width
(m)
Copper
(%)
Gold (g/t)
East Ridge:
RC750W 1194 1360 166 0.33 0.26
and 1454 1550 96 0.61 0.77
Including 1502 1548 46 1.0 1.3
and 1578 1660 82 0.61 0.69
Main Zone:
RC753 120 484 364 0.31 0.29
RC765 254 304 50 0.36 0.32
and 316 610 294 0.29 0.30
including 456 512 56 0.78 0.72
and 720 852 132 0.37 0.39
including 764 804 40 0.54 0.62
RC775 396 614 218 0.26 0.30
including 560 598 38 0.30 0.53
imperialmetals.com
represent apparent widths. Insufficient geological information is available to confirm the geological model and true width
of significant assay intervals.
Illustrative drawings and drillhole data 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.
Company Contacts
Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658
Jim Miller-Tait | Vice President Exploration | 604.488.2676
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 Company management’s expectations or
beliefs regarding future events and include, but are not limited to, statements regarding the Company’s expectations and timi ng
with respect to current and planned drilling programs at Red Chris, including plans to define the mineralization at the Main Zone
pit and Gully Zone; the potential for outlining additional mining areas near the Main Zone pit and Gully Zone ; and the continued
progression of the exploration decline and block cave development.
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 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 a ssumptions 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 revi ew on SEDAR at www.sedar.com. 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 fu ture 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.