Mr. Saf Dhillon reports

IMETAL RESOURCES COMPLETES DIGITALLY ENHANCED PROSPECTING SURVEY ON ITS GHOST MOUNTAIN PROJECT

iMetal Resources Inc. has completed a digitally enhanced prospecting (DEP) survey at its 220-hectare Ghost Mountain property, 42 kilometres northeast of Kirkland Lake, and lying five km directly west of Agnico Eagle's Holt and Holloway mines, and within one km of the Porcupine-Destor fault zone.

Saf Dhillon, chief executive officer, stated: "Ghost Mountain lies near several active gold exploration and mining operations including Agnico Eagle's Holt and Holloway mines property and McEwen Mining's Black Fox mine. The DEP survey is the next step in our staged exploration program to bring Ghost Mountain to the drilling stage."

Waring Minerals Inc. completed the DEP program at Ghost Mountain. UAV (unmanned aerial vehicle) LiDAR (light detection and ranging) was flown in order to locate outcrops on the property for the purposes of sampling and mapping. The DEP results will be combined with the 2022 AeroVision results to guide the next stage of exploration which will include defining drill targets. A number of priority target areas were identified and sampled.

The geology of Ghost Mountain can be divided into a south and north section. The north is underlain by mafic to ultramafic intrusive rocks of the Kidd-Munro Group, while the south of the property is underlain by a mixed group of felsic to mafic metavolcanic rocks and clastic metasedimentary rocks of the Destor Porcupine complex. Both are important regional assemblages and host numerous world-class gold and VMS deposits.

The company completed an AeroVision magnetic survey in 2022. The processing and interpretation of the survey data resulted in a detailed geostructural map, numerous high-resolution magnetic maps, two 3-D magnetic susceptibility models and a predictive targeting map which provided three solid targets for potential gold mineralization.

The scientific and technical information contained in this news release has been reviewed and approved by Scott Zelligan, PGeo (Ontario), vice-president of exploration of iMetal and a qualified person as defined in National Instrument 43-101.

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, Gowganda West, is 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 km 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.

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