Imperial Reports Production for Second Quarter 2024
imperialmetals.com
News Release
Imperial Reports Production for Second Quarter 2024
Vancouver | July 24, 2024 | Imperial Metals Corporation (“Imperial” or the “Company”)) (TSX:III) reports quarterly
copper and gold production from the Mount Polley and Red Chris mines. Imperial’s production for the second
quarter was 15.501 million pounds copper and 13,768 ounces gold, of which 9 .281 million pounds copper and
10,009 ounces gold were produced at Mount Polley and 6 .219 million pounds copper and 3,759 ounces gold
from Imperial’s 30% share of Red Chris mine production. Copper production was up 26% from the 12.353 million
pounds copper produced in the first quarter 2024 and gold production was up 7% from the 12,861 ounces gold
produced in the first quarter 2024.
Mount Polley Mine
Mount Polley metal production for the second quarter of 2024 was 9 .281 million pounds copper and 10,009
ounces gold, compared to 7.355 million pounds copper and 10,009 ounces gold produced during the first quarter
of 2024.
Mill throughput in the second quarter 2024 was up 3%, with 1.714 million tonnes being treated compared with
1.671 million tonnes treated in the first quarter of 2024. Copper production in the second quarter of 2024 was
up by 26% largely on higher grade of 0.294% copper versus 0.251% copper in the first quarter of 2024. Gold
production was the same for each of the first and second quarters of 2024.
For the first six months of 2024, copper production was up 21% compared to the same period last year with 20%
increase in throughput while gold production was down 1%, with lower gold grades and recovery offsetting the
higher throughput.
Mount Polley mine production Three Months Ended June 30 Six Months Ended June 30
2024 2023 2024 2023
Ore milled - tonnes 1,714,330 1,430,842 3,385,835 2,820,478
Ore milled per calendar day - tonnes 18,839 15,724 18,603 15,583
Grade % - copper 0.294 0.280 0.273 0.275
Grade g/t - gold 0.263 0.324 0.272 0.318
Recovery % - copper 83.4 79.9 81.6 80.5
Recovery % - gold 69.2 68.3 67.6 69.8
Copper - 000’s pounds 9,281 7,063 16,637 13,741
Gold - ounces 10,009 10,185 20,018 20,165
Tailings removal from the Springer Pit was completed in May 2024. Stripping for Phase 5 pushback of the
Springer Pit continued, with most of the non -acid generating rock from this pushback being delivered to the
tailings dam for buttress construction.
Red Chris Mine
Red Chris production (100%) for the second quarter of 2024 was 20 .731 million pounds copper and 12,531
ounces gold compared to 16.660 million pounds copper and 9,507 ounces gold during the first quarter of 2024.
In the second quarter of 2024, Red Chris copper production was up 24% compared to the first quarter of 2024.
The increase in copper production was a result of an 8% increase in copper grade (0.47% vs 0.43%) and a 19%
increase in throughput (27,357 tpd vs. 23,081 tpd). Gold production in the second quarter of 2024 was up 32%
imperialmetals.com
(12,531 oz vs 9,507 oz) from the first quarter of 2024 as result of the increased gold grades (0.30 g/t gold vs 0.26
g/t gold) and higher throughput.
For the first six months of 2024, copper production was up 48% compared to the same period last year on higher
copper grades and gold production was down 9% on lower gold grades.
100% Red Chris mine production Three Months Ended June 30 Six Months Ended June 30
2024 2023 2024 2023
Ore milled - tonnes 2,489,532 2,357,656 4,589,886 4,448,428
Ore milled per calendar day - tonnes 27,357 25,908 25,219 24,577
Grade % - copper 0.466 0.348 0.450 0.337
Grade g/t - gold 0.302 0.343 0.284 0.328
Recovery % - copper 81.1 75.9 82.1 76.6
Recovery % - gold 51.8 52.6 52.6 51.5
Copper - 000’s pounds 20,731 13,729 37,392 25,319
Gold - ounces 12,531 13,680 22,038 24,176
The technical and scientific information related to the Company’s mineral projects has been reviewed and
approved by Brian Kynoch, P.Eng., President of Imperial Metals, the designated Qualified Person as defined by
National Instrument 43-101.
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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 S. Dhillon | Chief Financial Officer | 604.669.8959
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 Imperial management’s expectations or
beliefs regarding future events and include, but are not limited to, statements regarding Imperial’s expectations and timing with
respect to copper and gold production from the Mount Polley and Red Chris mines; and Imperial’s current and planned exploration
drilling programs.
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", "wo uld",
"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 Imperial 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, Imperial has applied certain factors and assumptions that are
based on information currently available to Imperial as well as Imperial’s current beliefs and assumptions. These factors and
assumptions and beliefs and assumptions include, the risk factors detailed from time to time in Imperial’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 www.sedarplus.ca. Although Imperial 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, imperialmetals.com ev ents or results not to be as anticipated, estimated or intended, many of which are beyond
Imperial’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.