Imperial Mining Mobilizes Exploration Crews to Commence Crater Lake Scandium-Rare-Earth Program

Figure 1

Surface Targets for Summer Evaluation, Crater Lake Project, Quebec

Figure 2

Summer Diamond Drill Plans, Crater Lake Project, Quebec

Figure 3

Niobium-Tantalum Targets, Crater Lake Extension, Crater Lake Project, Quebec

MONTREAL, Aug. 18, 2021 (GLOBE NEWSWIRE) — Imperial Mining Group Ltd. (“Imperial”) (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it has mobilized its exploration team to execute the corporation’s summer plans at the Crater Lake scandium-rare-earth project in northeastern Quebec.

“We are now in the final stages of the surface evaluation of our Crater Lake property,” said Peter Cashin, Imperial’s President & Chief Executive Officer. “In addition to delivering the inaugural 43-101 resource estimation on our TG Zone later this month, we look forward to delivering on the results of the remainder of the targets present on the Crater Lake property. We clearly believe that much additional critical metal potential remains to be evaluated on our property as we have only drill-tested one-quarter of the favourable 14-km-long mineralized horizon. We also intend to assess a high-grade niobium-tantalum mineralized area identified in 2010, north and northwest of the scandium-bearing Crater Lake Complex.”

Summer 2021 Exploration Activities

The program will include surface evaluation of additional high-priority scandium-rare-earth exploration targets outside of the drilled TG Zone mineralized area (see Imperial press releases April 28, May 27, June 23, 2021; Figure 1). The targets were identified during evaluation of Imperial’s winter drill program results as well as prior geophysical and mapping survey results over the property. Plans for the collection of a 50-tonne bulk sample of known surface mineralization at the STG mineralized Zone for use in a pilot plant study to further test and optimize Imperial’s metallurgical process method (see Imperial press release – June 9, 2021) will be completed. Drill evaluation of the new surface targets is planned for September (Figure 2).

In addition, detailed assessment of historical high-grade rare-earth niobium-tantalum occurrences, north and northwest of the Crater Lake Complex, known as the Crater Lake Extension property area (Figure 3), will be undertaken. In these areas, 2010 grab sampling results of up to 9.28% niobium oxide (Nb₂O₅), 13.4% zirconium (Zr), 2.4% total rare earths oxides plus yttrium (TREO+Y) and 3,020 ppm tantalum (Ta) were returned requiring further investigation. The areas coincide with extensive TREO+Y-Nb-Ta till geochemical and radiometric anomalies over the areas of the occurrences.

QP

The technical content in this press release was prepared, reviewed and certified by Pierre Guay, P. Geo., Imperial’s Vice-President, Exploration, a Qualified Person as defined by NI43-101.

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.

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This press release may contain forward-looking statements relating to the Company’s operations or to its business environment. Such statements are based on the Company’s operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise. Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.

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