SCD.V · 2021-09-16 12:00:00

Imperial Mining Announces Closing of a $527,500 Private Placement of Units

Financings

NEWS RELEASE

Imperial Mining Announces Closing of a $527,500

Private Placement of Units

MONTREAL, QUEBEC – September 16, 2021 – Imperial Mining Group Ltd. (“Imperialˮ or the

“Corporation”) (TSX VENTURE: IPG) is pleased to announce that it closed the second and last tranche

of a non-brokered private placement (the “Offering”) of 3,516,666 units (each, a “Unit”) at a price of $0.15

per Unit , for an aggregate gross proceeds $ 527,500. The Corporation was thus able to raise a total of

$1,346,500 in the Offering with both tranches. Each Unit is comprised of one (1) common share (each a

“Share”) and one (1) a Share purchase warrant (each a “Warrant”), with each Warrant entitling the holder

to acquire one (1) additional Share of the Corporation at a price of $0.20 over a period of twenty-four (24)

months from the closing date.

The Corporation will use the proceeds of the Offering to complete exploration on the Corporation’s Crater

Lake TG Zone scandium-rare earth deposit, optimize the metallurgical test work for the project, collect a

50t bulk sample from the property, with the objective of delivering a 43 -101 Resource Report and a

Preliminary Economic Assessment, and for other corporate purposes. The bulk sample will ultimately be

used for input in a planned scandium recovery pilot plant.

In connection with the second tranche of the Offering, the Corporation paid no finders’ fees. All securities

issued pursuant to the Offering are subject to the applicable statutory hold period of four (4) months and

one (1) day from the closing. The Offering is subject to the final approval of the TSX Venture Exchange.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its

technology metals projects in Québec. Imperial is publicly listed on the T SX Venture Exchange as “IPG”

and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and

development professionals with a strong track record of mineral deposit discovery in numerous metal

commodities.

For further information please contact:

Peter J. Cashin

President and Chief Executive Officer

Phone: +1 (514) 360-0571

CHF Capital Markets

Iryna Zheliasko, Manager-Corporate Communications

Phone: +1 (416) 868-1079 x229

Website: www.imperialmgp.com Twitter: @imperial_mining Facebook: Imperial Mining Group

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.