Imperial Reports Production Update for 2024 First Quarter

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VANCOUVER, British Columbia, April 25, 2024 (GLOBE NEWSWIRE) — Imperial Metals Company (“Imperial”) (TSX:III) reports quarterly copper and gold production from its Mount Polley and Red Chris mines. Imperial's production was 12,353 million pounds of copper and 12,861 ounces of gold, of which 7,355 million pounds of copper and 10,009 ounces of gold came from Mount Polley and 4,998 million pounds of copper and 2,852 ounces of gold from its 30% share of the Red Cres mine production.

Mount Polley metal production (100%) for the first quarter of 2024 amounted to 7,355 million pounds of copper and 10,009 ounces of gold, compared to 6,678 million pounds of copper and 9,980 ounces of gold during the first quarter of 2023.

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Mill throughput increased by 20.3%, with 1,671 million tons processed compared to 1,390 million tons processed in the first quarter of 2023. Copper production in the first quarter of 2024 increased by 10.1% as a result of the increase in productivity that offset the lower grade. And recovery compared to the first quarter of 2023.

Tailings removal from Springer Pit is 84% ​​complete and is expected to be completely removed by early May. Stripping for the fifth stage of the Springer hole has begun and approximately 1.7 million tons of waste from this retreat have been extracted by the end of March 2024.

Red Cress metal production (100%) during the first quarter of 2024 amounted to 16,660 million pounds of copper and 9,507 ounces of gold, compared to 11,590 million pounds of copper and 10,496 ounces of gold during the same quarter of 2023.

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Red Chris' Q1 2024 copper production was up 44% compared to Q1 2023 and down 9% for gold compared to Q1 2023. The increase in copper production was the result of a 33% increase in copper grade (0.431% vs. 0.325%) and an 8% increase in recovery (83.4% vs. 77.4%). The decrease in gold production in the first quarter was due to a lower gold grade of 0.263 g/t gold versus 0.311 g/t gold processed compared to the same quarter last year.

Brian Kennoch, P.Eng., President of Imperial, has reviewed the disclosures in this news release and is a Designated Qualified Person as defined in National Instrument 43-101 (“NI 43-101”).

About Imperial

Imperial is a Vancouver-based mining exploration, development and operating company, with holdings including the Mount Polley Mine (100%), the Huckleberry Mine (100%), and the Red Cress Mine (30%). Imperial also owns a portfolio of 23 exploration properties in British Columbia.

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Company Communications

Brian Kynoch | president | 604.669.8959
trail s. Dillon | Chief Financial Officer | 604.488.2658
Jim Miller Tate | Vice President of Exploration | 604.488.2676

Cautionary note regarding forward-looking statements

Certain information in this press release are not statements of historical fact, but rather are “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of Imperial's management with respect to future events and include, but are not limited to, statements regarding Imperial's expectations and timing with respect to the completion of tailings removal from the Springer Pit at the Mount Polley mine.

In some cases, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “does not expect,” “expects,” “outlook,” “budget,” “planned,” “estimates,” or “predicts.” “, “intends”, “expects”, “does not expect”, “believes” or variations of such words, phrases or statements indicate that certain actions, events or results “may”, “could”, “will” or ” “may”, “will be taken”, “occur”, “achieve” or the negative of these or similar terms. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Imperial's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Formulations.

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In making the forward-looking statements contained in this press release, Imperial has applied certain factors and assumptions that are based on information currently available to Imperial as well as Imperial's current beliefs and assumptions. These factors, assumptions, beliefs and assumptions include the risk factors detailed from time to time in Imperial's interim and annual financial statements and management's discussion and analysis of those statements, all of which are presented and available for review on SEDAR at www.sedar. com. Although Imperial 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 Imperialmetals.com's actions, events or results not to be as anticipated. Expected, intended or intended, many of which are beyond the Imperium's 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 statements and all forward-looking statements contained in this press release are qualified by these cautionary statements.

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