Imperial Mining Announces its Intent to Extend the Expiry Date of Warrants

NEWS RELEASE

Imperial Mining Announces its Intent to Extend the Expiry Date of Warrants

MONTRÉAL, QU ÉBEC – August 29, 202 2 – Imperial Mining Group Ltd. (“Imperialˮ or the

“Corporation”) (TSX VENTURE: IPG; OTCQB: IMPNF ) announces its intent to extend the expiry

dates of a total of 12,718,332 share purchase warrants (the “Warrants”), by 12 months to September 10,

2023 (the “Warrant Extension”). The Warrants were issued pursuant to a private placement which closed

on September 10, 2019 . Each Warrant entitles the holder thereof to acquire one common share of the

Corporation at a price of $0.11 per common share and all ot her terms of the Warrants, including exercise

price, will remain the same. The Warrant Extension is subject to the exchange acceptance.

A total of 2,050,000 Warrants are held by parties who are considered to be “related parties” of the Company.

Therefore, the amendment of Warrants constitutes a “related party transaction” as contemplated by

Multilateral Instrument 61 -101 Protection of Minority Shareholders in Special Transactions, and TSXV

Policy 5.9 - Protection of Minority Shareholders in Special Transac tions. However, the exemptions from

formal valuation and minority approval requirements provided for by these guidelines have been relied

upon as the fair market value of the Warrants held by insiders does not exceed 25% of the market

capitalization of the Company.

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

commodities.

For further information please contact:

Peter J. Cashin

President and Chief Executive Officer

Phone: +1 (514) 360-0571

Email: [email protected]

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.