2017-01-31 New Release iMetal Closes Gowganda West Transaction iMetal Resources, Inc (“IMR”) is pleased to announce it has received TSX Venture Exchange approval and made the first year payment for its Gowganda West property, previously announced

2017-01-31 New Release

iMetal Closes Gowganda West Transaction

iMetal Resources, Inc (“IMR”) is pleased to announce it has received TSX Venture Exchange

approval and made the first year payment for its Gowganda West property, previously announced

by press release on November 8, 2016. The project is located near the town of Gowganda, 100

km south of Timmins, Ontario.

The Gowganda West property occur a few hundred meters North of Tahoe Resources, Inc

(“THO”), Juby deposit with a 43-101 gold resource of Indicated resources of 1.09 million ounces

of gold (26.6 million tonnes at 1.28 g/t Au) and Inferred resources of 2.91 million ounces of (96.2

million tonnes at 0.94 g/t Au).

As announced by Tahoe Resources, Inc on January 9th, 2017, Tahoe is planning 10,000 meters

of diamond drilling in its 2017 exploration program on its Juby deposit.

A preliminary work program at Gowganda West is currently being planned and will include

trenching and sampling in the vicinity of high–grade gold-bearing float found on the property. The

results of this work will assist in identifying drilling targets later on in the spring.

A 3% NSR is paya ble to the original owners in the Gowganda West transaction, in where IMR

can buy back half of the NSR for $1,000,000 up until the end of the three (3) year term of the

agreement.

ON BEHALF OF THE BOARD OF DIRECTORS,

Johan Grandin

CEO, IMetal Resources Inc.