Red Chris Production and Exploration Update
imperialmetals.com
News Release
Red Chris Production and Exploration Update
Vancouver | October 28, 2020 | Imperial Metals Corporation (the “Company”) (TSX:III) reports Red Chris metal production
for the 2020 third quarter was 22.2 million pounds copper and 18,052 ounces gold, as compared to 26.5 million pounds
copper and 22,057 ounces gold produced in the 2020 second quarter.
Imperial’s 30% portion of Red Chris third quarter production was 6.66 million pounds copper and 5,415 ounces gold.
Newcrest Red Chris Mining Limited is operator of the Red Chris Joint Venture (Newcrest 70%; Imperial 30%).
Metal production was lower than the prior quarter reflecting a higher proportion of lower grade stockpile material being
fed to the mill due to unseasonal rainfall. This impacted the availability of higher grade mill feed from the pits, and resulted
in lower recoveries. Lower grades and recoveries were partially offset by a 13% increase in mill throughput.
To date, Red Chris has not experienced any COVID-19 related disruptions to the supply of goods or services, to its workforce
or to its operations.
Red Chris - Exploration Update
Results from the East Zone drilling program continue to confirm the presence of multiple discrete high grade pods of
mineralization. Infill resource definition hole RC634 returned 514 metres grading 1.3 g/t gold and 0.77% copper from 650
metres, including 166 metres^^ grading 3.0 g/t gold and 1.5% copper from 806 metres. Hole RC638 returned 488 metres
grading 0.61 g/t gold and 0.50% copper from 536 metres, including 104 metres grading 1.0 g/t gold and 0.76% copper from
646 metres. A total of 86,366 metres of drilling from 69 drill holes has been completed since August 2019.
Drilling during the third quarter continued to confirm the footprint of the western high grade pod, which was first
intersected in RC616. Results from a program of 100 metre spaced holes, designed to confirm the lateral and vertical extent
of this zone, include results from holes RC625 (previously reported) and RC637.
Final results for step-out hole RC625, located 100 metres south west of RC616, returned 426 metres^^ grading 0.62 g/t gold
and 0.48% copper from 640 metres, including 60 metres^^ grading 2.2 g/t gold and 1.3% copper from 736 metres. Results
continued to confirm the high grade mineralization with RC637, located 100 metres above RC625, returning 446 metres
grading 0.51 g/t gold and 0.45% copper from 618 metres, including 60 metres grading 1.5 g/t gold and 1.1% copper from
694 metres. Drilling to define the extent and continuity of this high grade pod is ongoing. These discrete pods sit within the
larger footprint of the overall porphyry system.
The Brownfields Exploration program has been expanded with drilling underway across the East Zone, Main Zone and Gully
Zone, and will follow up on historic drilling results along a 3 kilometre segment of the porphyry corridor in search for zones
of mineralization which could support additional mining fronts.
A property wide Airborne Electro-Magnetic (AEM) and gravity survey have been completed. A high-resolution airborne
magnetics survey was also completed over a portion of the property to provide complete coverage. The survey aims to
generate drill targets across the entire claim package.
Significant Red Chris Intercepts:
Hole ID From (m) To (m) Width (m) Gold (g/t) Copper (%)
RC634 522 628 106^^ 0.33 0.41
and 650 1164 514^ 1.3 0.77
including 802 1004 202^^ 2.7 1.3
including 806 972 166^^ 3.0 1.5
including 888 914 26^^ 8.8 3.4
including 890 902 12^^ 12 4.4
including 988 1000 12^^ 1.5 0.93
including 1016 1160 144^ 0.64 0.48
including 1022 1032 10^^ 1.0 0.71
imperialmetals.com
RC637 618 1064 446 0.51 0.45
including 692 826 134 1.0 0.80
including 694 754 60 1.5 1.1
RC638 536 1024 488 0.61 0.50
including 646 750 104 1.0 0.76
including 668 722 54 1.3 0.96
including 778 878 100 1.3 1.0
including 778 864 86 1.5 1.1
** partial intercept, assays pending; ^ updated intercept; ^^ previously reported Sept 9, 2020 news release
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 2020 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 represent apparent
widths. Insufficient geological information is available to confirm the geological model and true width of significant assay
intervals.
Plan view map and cross sections are available on imperialmetals.com.
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About Imperial
Imperial is a Vancouver 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. Imperial also holds a 45.3% interest in the Ruddock Creek lead/zinc property.
Company Contacts
Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658
Sabine Goetz | Shareholder Communications | 604.488.2657 | [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 Company 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 drilling programs at Red Chris to identify additional zones of higher grade mineralization, including plans for
further drilling in the East Zone, Main Zone and Gully Zone.
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
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.