Imperial Reports Red Chris Update
imperialmetals.com
News Release
Imperial Reports Red Chris Update
Vancouver | October 27, 2021 | Imperial Metals Corporation (the “Company”) (TSX:III) reports Red Chris metal production
(100%) for the third quarter of 2021 was 17. 2 million pounds copper and 15, 249 ounces gold, compared to 1 7.6 million
pounds copper and 15,451 ounces gold produced during the second quarter of 2021.
Imperial’s 30% portion of the third quarter production was 5.2 million pounds copper and 4,575 ounces gold.
Higher throughput and recovery for the quarter were offset by lower head grades of 0.39% copper and 0.34 g/t gold
compared to 0.40% copper and 0.35g/t gold in the second quarter.
Red Chris Exploration Update
Drilling at the newly discovered East Ridge continues to expand the extent of mineralization in this zone, the drilling has
demonstrated continuity of the copper gold mineralization over dimensions of about 400 metres high, 400 metres long and
125 metres wide. Contained within this zone of mineralization is a higher-grade portion with dimensions of approximately
300 metres high, 300 metres long and 100 metres wide. East ridge remains open to the east and at depth.
Diamond drill hole RC727 intersected 346 metres from 1046 metres to 1392 metres grading 0.79% copper and 1.1 g/t gold.
This intercept includes a 56 metre section grading 1.8% copper and 3.5 g/t gold , the highest grade intercept to date form
the East Ridge.
East Ridge is located adjacent to the East Zone and outside the current Red Chris Mineral Resource estimate. Ongoing
drilling continues to extend the copper/gold mineralization. Exploration drilling has not yet defined the limits of the
mineralized porphyry corridor.
Brian Kynoch, President of Imperial Metals said, “The results from ongoing drilling in the East Ridge continue to demonstrate
the potential for significant growth in the copper/gold resource at Red Chris. ”
Results since last release:
Hole ID From (m) To (m) Width (m) Copper (%) Gold (g/t)
RC719 678 930 252 0.36 0.26
Including 732 742 10 0.93 0.58
RC727 1046 1392 346 0.79 1.1
including 1336 1392 56 1.8 3.5
During the third quarter, there were up to eight diamond drill rigs in operation. A further 29,388 metres of drilling was
completed in 24 drill holes, with all drill holes intersecting mineralization (except twelve drill holes which were dedicated
geotechnical holes).
Red Chris Block Cave Development Update
The exploration decline for the proposed block cave development has progressed to 3 93 metres as at October 20, 2021.
The results o f the recently released Red Chris Block Cave P re-Feasibility Study (PFS), have confirmed Imperial’s long held
belief that Red Chris had the potential to become a long-life, low-cost block cave copper gold mine.
See release titled “Red Chris Block Cave Pre -Feasibility Study Confirms Low Cost, Long Life ” dated 1 1 October 2021 for
further information.
There are significant opportunities to enhance the results of the PFS including the ‘early mining’ of the highest-grade pods
in the East Zone and the emerging opportunity associated with the discovery of new distinct higher grade zones of
mineralization such as East Ridge.
imperialmetals.com
Jim Miller-Tait, P.Geo., Imperial Metals Vice President 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 La boratories 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 sections, drillhole data, and plan view map are available on imperialmetals.com.
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About Imperial
Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its
subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry
copper mines in British Columbia.
Company Contacts
Brian Kynoch | President | 604.669.8959
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 incl ude, but are not limited to, statements regarding the Company’s
expectations with respect to the ongoing drilling programs at Red Chris including the expansion of the extent and continuity of
mineralization in the East Ridge Zone, the potential for significant growth in the copper/gold resource at Red Chris, the progression
of the exploration decline for the proposed block cave development, the cost and length of l ife mine of Red Chris, and the
significant opportunities to enhance the results of the PFS including the early mining of highest -grade pods in the East Zone and
the discovery of new distinct higher grade zones of mineralization.
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 belie fs 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 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 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 . Such information is given only as of the date of this news release. The Company does not assume any
obligation to update its forward -looking information to reflect new information, subsequent events or otherwi se, except as
required by law.