Mr. Saf Dhillon reports

IMETAL RESOURCES ANNOUNCES RESTART OF DRILLING AT GOWGANDA WEST

iMetal Resources Inc. has restarted drilling after spring breakup at the company's Gowganda West project, which lies within the prolific Abitibi greenstone gold belt. Drilling was paused in April after five holes and 1,914 metres were completed to accommodate the spring melt. This round of drilling is focused on further delineating gold mineralization in the area of iMetal's ground proximal to Aris Mining's Juby deposit.

Saf Dhillon, president and chief executive officer, stated: "Drilling at our flagship Gowganda West project continues and we are excited to see the pending assay results. The gold trends proximal to the Juby deposit are of great interest to the company and we are eager to advance the project further throughout this year."

The company engaged Laframboise Drilling Inc. of Earlton, Ont., for this phase of drilling at Gowganda West. Samples are being submitted to ALS Geochemistry in Sudbury for assaying. Completed holes have focused mainly on further delineating trends near the border with Aris Mining, while the remaining holes will also test VTEM (versatile time-domain electromagnetic) targets from the 2019 airborne program.

Gowganda West is an exploration-stage gold project about 100 kilometres south-southeast of Timmins, Ont., contiguous to Aris Mining's Juby project in the Shining Tree camp of the southern part of the Abitibi greenstone gold belt; contiguous also with the Knight project that is part of the strategic partnership between Orefinders Resources Inc. and Agnico Eagle. iMetal completed a 2,611 m drilling program in the fall of 2022 which intersected a new gold trend. The property also has multiple-ounce grab samples from trends that have yet to be drill tested.

The scientific and technical information contained in this news release has been reviewed and approved by Scott Zelligan, PGeo (Ontario), vice-president, 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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