GlobeNewswire Inc | Nov 29, 2021 06:26PM EST

November 29, 2021

VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the Company) (TSX:III) reports that the NI 43-101 Technical Report for Red Chris has been filed by Newcrest Mining Limited. A copy of the report will be available on imperialmetals.com and the Canadian Securities Administrators System for Electronic Document Analysis and Retrieval (SEDAR).

The Technical Report has been prepared in accordance with National Instruction 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (NI 43-101) and the provisions of Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves May 2014 (the CIM Definition Standards) for filing on SEDAR.

The Mineral Resource and Mineral Reserve estimates in the Technical Report have been prepared under the direction of Qualified Persons as defined in NI 43-101, using accepted industry practice.

Mineral Resources and Mineral Reserves were initially classified using the 2012 edition of the Australasian Joint Ore Reserves Committee Code (the JORC Code). The confidence categories assigned under the JORC Code were reconciled to the confidence categories in the CIM Definition Standards. As the confidence category definitions are the same, no modifications to the confidence categories were required. Note that NI 43-101 does not allow for Inferred Mineral Resources to be added to other Mineral Resource categories.

Mineral Resources and Mineral Reserves in the Technical Reports are reported in accordance with the CIM Definition Standards. Terminology differences were addressed in that the term Ore Reserves in the JORC Code is reported as Mineral Reserves using the CIM Definition Standards, and the term Proved Ore Reserve in the JORC Code is reported as Proven Mineral Reserves using the CIM Definition Standards.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959Darb Dhillon | Chief Financial Officer | 604.488.2658Jim Miller-Tait | Vice President Exploration | 604.488.2676

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this news release are not statements of historical fact and are forward-looking statements.Forward-looking statements relate to future events or future performance and reflect Company managements expectations or beliefs regarding future events

In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does notanticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results"may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms orcomparable terminology. By their very nature forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results, performance or achievements of the Company to bematerially different from any future results, performance or achievements expressed or implied by the forward-lookingstatements.

In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Companys current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in the Companys interim and annualfinancial statements and managements discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Companys ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statementsand all forward-looking statements in this news release are qualified by these cautionary statements.Such information is given only as of the date of this news release. The Company does not assume any obligation to update its forward-looking information to reflect new information, subsequent events or otherwise, except as required by law.