Mr. Saf Dhillon reports

IMETAL ANNOUNCES UPGRADE OF U.S. LISTING ON THE OTCQB MARKET

iMetal Resources Inc.'s common shares have been successfully upgraded from the OTC Pink to the OTCQB Venture Market under the symbol IMRFF, effective at the open of trading of May 3, 2023. The company continues to trade on the TSX Venture Exchange under the symbol IMR and the Frankfurt Stock Exchange under the symbol A7V.

The OTCQB is a U.S. trading platform operated by the OTC Markets Group and is the leading marketplace of early-stage and developing U.S. and international companies. To be eligible, companies must be current in their financial reporting, undergo an annual company verification and management certification process, and meet a minimum bid price test. The OTCQB provides key benefits for investors with efficient market standards, transparency and visibility of companies on the OTCQB market. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors.

About iMetal Resources Inc.

iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. One of its flagship properties is Gowganda West, an exploration-stage gold project that borders the Juby deposit and is located within the Shining Tree camp area in the southern part of the Abitibi greenstone gold belt about 100 kilometres south-southeast of the Timmins gold camp. The 665-hectare Kerrs gold deposit comprises a series of gold-bearing pyritized quartz vein replacement breccias with a 2011 historic resource, 90 kilometres east-northeast of Timmins. The 220-hectare Ghost Mountain property, 42 kilometres northeast of Kirkland Lake, lies five kilometres west of Agnico Eagle's Holt and Holloway mine.

We seek Safe Harbor.