Mr. Saf Dhillon reports

IMETAL RESOURCES TO CONSOLIDATE SHARE CAPITAL

iMetal Resources Inc.'s board of directors has approved a consolidation of its common share capital at a ratio of one postconsolidated common share for every 10 preconsolidated common shares. The company currently has 56,080,063 common shares outstanding, and following completion of the consolidation it is expected that the company will have approximately 5,608,006 common shares outstanding.

The consolidation is intended to make the capital structure of the company more attractive to potential financing opportunities. The company will provide further details regarding the consolidation, along with the effective date, as soon as such details become available. Completion of the consolidation remains subject to the approval of the TSX Venture Exchange.

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 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. Carheil is an exploration-stage project with multimetal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi greenstone belt.

We seek Safe Harbor.