Mr. Saf Dhillon reports

ADOPTION OF OMNIBUS INCENTIVE PLAN & PRIVATE PLACEMENT UPDATE

iMetal Resources Inc. shareholders approved the adoption of a new omnibus incentive plan at the annual general and special meeting of shareholders held on Aug. 7, 2025. The plan provides for the grant of incentive stock options, restricted share units and deferred share units. Up to 10 per cent of the outstanding common share capital at any time is reserved for the grant of options, and an additional 1,007,465 shares are reserved for the grant of all other equity-based incentives. For further information regarding the plan and to review the full text of the plan, readers are encouraged to review the management information circular sent to shareholders in connection with the meeting, a copy of which is available under the profile for the company on SEDAR+.

Private placement update

The company also reports the number of units issued in connection with closing of its 13-cent flow-through unit private placement on Dec. 17, 2025, was incorrectly reported in the company's news release dated Dec. 18, 2025. The company closed on 4,164,623 units for total gross proceeds of $541,400.99. All other terms provided in the Dec. 18 news release remain the same.

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 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.