Mr. Brian Kynoch reports

CONVERSION OF SENIOR UNSECURED CONVERTIBLE DEBENTURES DUE AUGUST 30, 2027

All outstanding senior unsecured convertible debentures due Aug. 30, 2027, will be converted into common shares of the company, with 100 per cent of the holders of the debentures electing to exercise their conversion rights prior to the conversion notice deadline. As a result, no cash redemption will be made on Aug. 18, 2025. The 14,687,500 debenture shares issuable upon conversion will be delivered to the holders on the redemption date in lieu of the redemption price.

As previously announced in the news release dated July 14, 2025, the company intended to redeem at par on the redemption date all of its outstanding $47-million principal amount of the debentures. The company issued redemption notices to the holders that it wished to exercise its right to redeem the debentures on the redemption date. Within five business days prior to the redemption date, each holder exercised the right to convert their debenture into debenture shares in accordance with the terms of the debentures.

Shareholdings of N. Murray Edwards

Prior to the issuance of the debenture shares, Mr. Edwards had beneficial ownership and control or direction over 72,875,775 common shares of the company, representing 44.62 per cent of the company's issued and outstanding common shares as of the date hereof. Following the conversion, Mr. Edwards will have 83,032,025 shares representing 46.64 per cent of the company's issued and outstanding shares. This debenture, and the resulting debenture shares, were acquired by Mr. Edwards for investment purposes, and he may acquire or dispose of securities of the company in the future depending on market conditions, reformulation of plans and/or other relevant factors, in each case in accordance with applicable securities laws. This portion of the news release is issued pursuant to National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR+ by Mr. Edwards containing additional information with respect to the foregoing matters. A copy of the early warning report may be obtained directly from the company upon request at the telephone number below.

About Imperial Metals Corp.

Imperial is a Vancouver-based exploration, mine development and operating company with holdings that include the Mount Polley mine (100 per cent), the Huckleberry mine (100 per cent) and the Red Chris mine (30 per cent). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

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