Imperial drill hits native copper at Mount Polley, B.C.

Imperial Metals Corp. (III-TSX) has announced the discovery of copper mineralization in a 400-metre metre step-out drill hole located four kilometres from the mill at its Mount Polley mine in British Columbia.

The company said an exploration drill hole, exploring a blind target through clastic cover rocks intercepted a hydrothermal breccia hosting significant visual native copper at the unconformity with the Mount Polley Intrusive Complex (MPIC). Two intercepts in drill holes FP-25-01 of 7.0 metres grading 0.70% copper and 0.27 g/t gold starting at 383 metres, and 20 metres of grade 0.25% copper and 0.96 g/t gold starting at 417.5 metres, mark the discovery of significant mineralization in a major step-out. The drill hole was collared 4.15 kilometres north of the operating Mount Polley mill.

Imperial shares advanced on the news, rising 1.36% or $0.06 to $4.48 in early trading, Wednesday. The shares trade in a 52-week range of $5.53 and $1.70.

Mount Polley is an open pit copper/gold mine located in south-central B.C., 56 kilometres northeast of Williams Lake. The 2025 production target for Mount Polley is 25 million to 27 million pounds of copper and 35,000 to 40,000 ounces of gold. The production target for gold is the same as in 2024, while the copper production target is lower.

The Mount Polley mine employes over 390, making the site a significant economic driver in the region. The mine is 100% owned and operated by Mount Polley Mining Corp, a subsidiary of Imperial. After a care and maintenance suspension for three years, operations recommenced in July of 2022.

The company said FP-25-01 was drilled 1.2 kilometres north-northwest from the previously mined Wight Pit (Northeast Zone) where some of the highest grade copper grade ore has been mined at Mount Polley.

It said mineralization encountered in FP-25-01 is significant for the following reasons:

• The intercept is 390 metres away from the nearest known mineralized hit.
• The dominance of native copper in this intercept is unique and opens up the question of whether other, similar style mineralization is in this area.
• The high-grade copper ratio in the lower intercept starting at 417.5 metres, is distinctly different from metal ratios observed in other zones in this part of the property.
• The extent of non-copper-gold bearing magnetite breccia below 437.5 metres is a clear sign of extensive hysdrothermal activity well north of the exposed MPIC and provides support for further exploration targeting the surrounding area.

Drilling continued after the drill results reported in the May 22 2025 news release with 16 additional drill holes designed to aid in expanding the resource in the gold-rich C2 Zone and two holes in the pit to provide detailed information to support mine planning. Diamond drilling at Mount Polley has been suspended for now, the company said.