iMetal Resources Inc. Reports High Grade Gold Assays from its Zone 3 Gold Target, Gowganda West property, ~90km southwest of Kirkland Lake, Ontario

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November 09, 2017

iMetal Resources Inc. Reports High Grade Gold Assays from its Zone 3 Gold Target, Gowganda

West property, ~90km southwest of Kirkland Lake, Ontario

iMetal Resources Inc. (IMR – tsxv) – (“iMetal” or the “Company”) is pleased to provide details of new

high-grade gold mineralization recently discovered on Zone 3, located on its expanded Gowganda West

property.

Zone-3 Gold Target (UTM 5264146N, 502791E)

Recent prospecting in new outcrop areas exposed by overburden stripping and outcrop sampling has

resulted in the discovery of previously unrecognized high -grade gold mineralization. “Zone 3” is located

5.2 km south of Zone 1 where high -grade gold mineraliz ation was discovered 500m south of Tahoe

Resource’s ~4-million ounce Juby gold Deposit (see October 30, 2017 IMR news release). Tahoe has

reported that the JUBY gold deposit has 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 gold (96.2 million tonnes at 0.94 g/t

Au). Zone 1 is interpreted as analogous to the geology and mineralization at the Juby deposit. A location

map for both zones is available at iMetal Ownership Map PDF and on iMetal’s website. The 5.2 km

distance between Zone 1 and Zone 3 is largely unexplored. It represents an important target trend, which

is now being prospected.

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Zone 3 comprises two areas of gold mineralization arbitrarily called Zone 3A and 3B

Assay Results - Zones 3A and 3B

Assay results for both mineralized zones are summarized in Tables 1 and 2. Strongly elevated and inter-

correlated gold, silver and copper is present in multiple samples from the vein material in both Zone 3A

and 3B. This includes maximum values of 56.59 grams per metric tonne (g/mt) gold and 15 g/mt silver in

sample 5238 and 1.337% copper with 7.3 5 g/mt gold in sample 3511 in Zone 3A. Zone 3B maximum

assay values includes 19.4 g/mt gold and 2.582% copper in sample 3514 and 21.9 g/mt silver in sample

5219.

Table 1. Summary of assay results for gold, silver and copper from 14 representative grab

samples of vein material, Zone 3A. UTM datum is NAD83 Zone 17. “FA -GRAV” refers to Fire

Assay-Gravimetry. NA-not available.

Sample UTM

East

UTM

North Au g/mt Au g/mt Ag

g/mt Cu %

FA-GRAV*

3511 502792 5264199 7.35 NA 1.337

3512 502790 5264150 1.24

5207 502812 5264163 13.49 34.81 5.9 0.092

5227 502793 5264158 4.7 - 0.9 0.101

5228 502793 5264158 14.34 15.23 4.5 0.342

5229 502793 5264158 1.11 - 0.2 0.041

5230 502793 5264158 1.17 - 0.2 0.061

5231 502788 5264162 1.35 - < 0.2 0.005

5232 502784 5264152 0.67 - < 0.2 0.012

5233 502780 5264155 0.03 - < 0.2 0.003

5235 502781 5264151 0.33 < 0.2 0.003

5236 502780 5265155 5.7 6.03 0.001

5237 502781 5264152 0.03 - < 0.2 0.001

5238 502792 5264158 42.72 56.59 15 0.133

Table 2. Summary of assay results for gold, silver and copper from 32 representative grab

samples of vein material, Zone 3B. UTM datum is NAD83 Zone 17. * “FA -GRAV” refers to Fire

Assay-Gravimetry. NA-not available.

Sample UTM

East

UTM

North Au g/mt Au g/mt Ag g/mt Cu %

*FA-GRAV

3513 502943 5264306 4.34

3514 502943 5264306 19.4 NA 2.582

3515 502943 5264306 0.02

3516 502943 5264306 0.02

3518 502943 5264311 11.3 0.2924

3519 502942 5264318 0.03 0.0057

5208 502948 5264300 0.02 - < 0.2 0.006

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5209 502946 5264310 0.63 - 0.3 0.163

5210 502946 5264315 1.00 - 4 0.357

5211 502945 5264312 1.25 - 1.4 0.458

5212 502944 5264310 12.70 11 5.9 0.545

5213 502944 5264311 2.06 - 1.6 0.515

5214 502945 5264312 2.59 - 2.1 0.476

5215 502945 5264310 14.74 13.66 4 0.603

5216 502946 5264308 0.34 0.7 0.195

5217 502947 5264308 0.21 - 0.2 0.08

5218 502947 5264309 0.64 - 0.7 0.187

5219 502946 5264308 0.16 - 21.9 0.09

5220 502946 5264308 0.28 - < 0.2 0.038

5221 502945 5264309 1.19 - 2 0.96

5222 502944 5264309 3.65 - 3.5 0.729

5223 502947 5264310 0.64 - 3.1 0.603

5224 502942 5264300 0.75 - 0.6 0.164

5225 502940 5264299 5.59 - 6.7 0.922

5226 502941 5264309 0.49 - 0.7 0.248

5239 502941 5264299 0.05 - < 0.2 0.002

5240 502939 5264293 0.02 - < 0.2 0.006

5241 502938 5264295 0.42 - 0.4 0.09

5242 502938 5264299 0.02 - < 0.2 0.019

5243 502943 5264298 0.02 - < 0.2 0.004

5244 502940 5264298 0.46 - 1.4 0.081

5245 502938 5264296 0.36 - 0.8 0.259

5246 502949 5264297 0.02 - < 0.2 0.005

5247 502965 5264280 0.26 - < 0.2 0.004

5248 502952 5264292 0.07 - 0.2 0.044

5249 502952 5264292 0.07 - < 0.2 0.003

5250 502947 5264294 0.28 - < 0.2 0.004

Ongoing Exploration

Preliminary exploration on the Gowganda West property has defined two distinctive quartz -carbonate

and quartz vein systems mineralized with pyrite, chalcopyrite and in the case of Zone 3 malachite. Each

of these vein sets are exposed in outcrop and characterized by high grade and intercorrelated gold, silver

and copper in multiple samples.

Zone 3 is the second area of high grade gold mineralization recently discovered by prospecting on the

105 sq km Gowganda West property. Exploration at Zone 1 on the property (see IMR October 30, 2017

news release) has defined an area of high grade gold mineralization in a geological setting reminiscent of

the JUBY gold deposit of Tahoe Resources. Zone 1 occurs just ~300m from the south boundary of

Tahoe Resources Inc.’s claim block that hosts its JUBY gold deposit.

The discovery of Zones 1 and 3 underscore the precious and base metal potential on the Gowganda

West property in highly productive geological environme nts. Ongoing exploration including geophysical

surveys and diamond drilling is planned for these two newly discovered areas and in new target areas

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defined by i Metal Resources’ exploration team. All results will be made available in news releases as

they become available.

Geology and Mineralization

The area of Zone 3 is underlain by Archean Timiskaming clastic metasedimentary rocks including

arenite, wacke, argillite, arkose and conglomerate. The sequence and mineralized and altered zones are

intruded by a strongly magnetic Matachewan diabase dike.

Zone 3A

In this zone mineralization is characterized by 0.5 - 2 m quartz -carbonate veins striking 70 0 west and

dipping 75 -800 degrees north for 15 metres in outcrop. Disseminated 0.5 -1% fine grained pyrite and

chalcopyrite are present in these veins. Host rocks include green -grey medium grained arkose that have

been moderately silicified.

Zone 3B

A second mineralized zone exposed in two segments oc curs approximately 220 m northeast of Zone 3A

at UTM coordinate 5264311 North and 502943 East. Both segments are characterized by mineralized

quartz veins with trace to 2% pyrite, chalcopyrite and malachite. Host rocks have been moderately to

intensely silicified.

Quartz veins in the northern segment are 5 -20cm wide, can be traced in outcrop for 10m and strike 20 0

north and dip 500 west. The southern segment continues for 8-10 metres and varies from 10 cm to 40 cm

with a 200 north strike and 75-800 east dip.

The technical content of this news release has been review ed and approved by Mark Fedikow,

Ph.D. P.Geo., a qualified person as defined under Ni 43-101.

This Press Release was prepared by iMetal Resources Inc. Neither the TSX Venture Exchange nor

its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture

Exchange) has reviewed nor accepts responsibility for the adequacy or accuracy of this release.

We Seek Safe Harbor.

ON BEHALF OF THE BOARD OF DIRECTORS,

Brian Fagan

President & CEO, iMetal Resources Inc.

510-580 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca / Tel: 360-224-7141