Mr. Saf Dhillon reports

IMETAL RESOURCES CONFIRMS EFFECTIVE DATE FOR SHARE CONSOLIDATION

Effective at the close of business on Feb. 29, 2024, iMetal Resources Inc. will consolidate its common share capital on a one-for-10 basis. Effective at the opening of markets on March 1, 2024, the common shares of the company will commence trading on a postconsolidation basis under the existing ticker symbol IMR.

The consolidation is intended to make the capital structure of the company more attractive to potential financing opportunities. 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 shares outstanding.

No fractional shares will be issued in connection with the consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the company will receive a letter of transmittal from Computershare Trust Company of Canada with instructions on how to exchange existing share certificates for new postconsolidation share certificates.

About iMetal Resources Inc.

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.