III Imperial Metals Corporation

Imperial Metals Corporation (“Imperial”) (TSX:III) is pleased to report that Mount Polley Mining Corporation and the Williams Lake First Nation (the T’exelcemc) have signed a Revised Participation Agreement, renewing the Participation Agreement which was initially signed in December 2011 and updated in 2016.

Imperial looks forward to working together to enhance Mount Polley, the T’exelcemc and the community.

Brian Kynoch, President of Imperial Metals, expressed his thanks to Williams Lake First Nation Chief Willie Sellars and his team for their ongoing support of the Mount Polley project and added, “Imperial and Mount Polley are committed to a respectful working relationship with the Williams Lake First Nation.

Chief Willie Sellars stated, “We’ve had a positive working relationship with Mount Polley Mining Corporation for over a decade and this has allowed us to navigate some very challenging times. We’re grateful to conclude this revised agreement and look forward to working together cooperatively for the remaining life of the mine."

Site and mill preparations towards recommencement of operations at Mount Polley is proceeding well. Management targets the resumption of milling operations by the end of the second quarter.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959Darb Dhillon | Chief Financial Officer | 604.488.2658

Cautionary Note Regarding “Forward-Looking Information”

Certain information contained in this news release are not statements of historical fact and are "forward-looking" statements. Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, specific statements regarding expectations with respect to the working relationship between Mount Polley, Williams Lake First Nation, the T’exelcemc, and the community; and the timing with respect to the resumption of site and milling operations at Mount Polley.

In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company’s current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in the Company’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Company’s ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this news release are qualified by these cautionary statements. Such information is given only as of the date of this news release. The Company does not assume any obligation to update its forward-looking information to reflect new information, subsequent events or otherwise, except as required by law