SCD.V · 2022-12-29 12:00:00

Imperial Mining Announces Closing of an Additional $300,000 Private Placement of Flow-Through Shares

Financings

Imperial Mining Announces Closing of an Additional $300,000

Private Placement of Flow-Through Shares

MONTREAL, QUEBEC – December 29, 2022 – Imperial Mining Group Ltd. (“Imperial”) (TSX

VENTURE: IPG; OTCQB: IMPNF ) is pleased to announce that it has closed today a non -brokered

private placement (“Offering”) of 2,000,000 shares on a “flow-through” basis at a price of $0.15 per share

(each, a “Share”) for gross proceeds of $300,000.

“I am very thankful of the continued financial support we have received from WCPD to advance the

development of the Crater Lake scandium-rare earth project,” said Imperial President & CEO, Peter Cashin.

“This financing added important, new high-net worth international investors into the Imperial Mining fold.

I believe that our successful financings and continued application for Quebec and Canadian Government-

sponsored R&D grants shows recognition of the potential that scandium has as a significant Canadian

industrial development.”

The Corporation will use the proceeds of the Offering to complete exploration drilling on the Southern

Lobe of the Corporation’s Crater Lake scandium-rare earth zone above the -100 m vertical level of the TG

Zone and to complete process flow sheet optimization and other corporate purposes.

The Shares were issued as part of a charity flow-through arrangement. No commission or finders’ fee was

paid by the Corporation in connection with this Offering. The Offering is between arm’s length parties and

all securities issued pursuant to th e Offering are subject to the applicable statutory hold period of four

months and one 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 TSX 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 commo dities.

For further information please contact:

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

Neither TSX Venture Exchange nor its Regu lation 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.

Peter J. Cashin

President and Chief Executive Officer

Phone: +1 (514) 360-0571