Mr. Saf Dhillon reports

IMETAL RESOURCES CLOSES FLOW-THROUGH PRIVATE PLACEMENT

iMetal Resources Inc. has completed a non-brokered private placement of 5.2 million flow-through common shares at a price of seven cents per FT share for gross proceeds of $364,000.

Proceeds from the sale of FT shares will be used to incur Canadian exploration expenses, as defined in Subsection 66.1(6) of the Income Tax Act (Canada), and flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada). In connection with completion of the offering, the company paid $25,480 and issued 364,000 share purchase warrants to an arm's-length third party who assisted in introducing the subscriber to the offering. Each finder's warrant is exercisable to acquire a common share of the company at a price of seven cents until Dec. 13, 2025.

All securities issued in connection with the offering are subject to restrictions on resale until March 14, 2024, in accordance with applicable securities laws.

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. The flagship property, Gowganda West, is an exploration-stage gold project, with a recent discovery hole of 48.5 metres at 0.85 gram per tonne gold, 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 historical resource, located 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.