Imperial Reports Receipt of Permit Amendments to Recommence Modified Operations at the Mount Polley Mine

Imperial Reports Receipt of Permit Amendments to Recommence Modified Operations at the Mount Polley Mine

Vancouver — July 9, 2015 | Imperial Metals Corporation (“Imperial”) (III-TSX) reports the British Columbia Ministry of Energy and Mines and the Ministry of Environment have issued permit amendments that allow recommencement of operations at the Mount Polley mine. The permits allow a modified operation plan to process a maximum of 4 million tonnes of ore over one year (approximately 50% of capacity of the processing plant at Mount Polley). The tailings from the processing during modified operations will be directed to, and stored in, the Springer pit. During the modified operation plan, ore will be mined from the Cariboo pit and the Boundary zone underground workings.

The rehabilitation and restoration of the areas affected by the August 4, 2014 breach of the tailings embankment at the Mount Polley mine will continue during the period of modified operation. Imperial remains committed to working with the Ministry of Environment, First Nations and the local community to mitigate the effects of the breach.

The permit amendments to recommence operations at Mount Polley allow the mine to retain a large portion of its skilled work force which is critical to ongoing operations. Employment and business opportunities related to Mount Polley are also important to the regional economy as the mine and its employees play a substantial role in the economy and fabric of the surrounding communities. Mount Polley management and staff are thankful for the ongoing support of these communities.

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About Imperial
Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The new Red Chris mine in northern British Columbia is in its commissioning phase. Imperial, through its subsidiaries, owns the Mount Polley copper/gold mine in British Columbia and the Sterling gold mine in Nevada. Imperial has a 50% interest in the Huckleberry copper mine and a 50% interest in the Ruddock Creek lead/zinc property, both in British Columbia.

Imperial Contact Information
Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Gordon Keevil | Vice President Corporate Development | 604.488.2677
Sabine Goetz | Shareholder Communications | 604.488.2657 | investor@imperialmetals.com

Cautionary Note Regarding “Forward-Looking Information”

Certain information contained herein constitutes forward-looking information which is prospective in nature and reflect the current views and/or expectations of Imperial. Often, but not always, forward-looking information can be identified by the use of statements such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “estimates”, “forecasts”, “targets”, “projects”, “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”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Such information in this press release includes, without limitation, statements regarding the issuance of British Columbia Ministry of Energy and Mines and Ministry of Environment permit amendments to recommence modified operations at the Mount Polley mine, planned mining from the Cariboo pit and the Boundary zone underground workings, and the rehabilitation and restoration of the areas affected by the August 4, 2014 breach of the tailings embankment at the Mount Polley mine.

Forward-looking information is not based on historical facts, but rather on then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which Imperial operates, including assumptions that: there will be no material delay in the recommencement of modified operations at the Mount Polley mine; equipment will operate as expected; mining, processing, exploration and development activities will achieve expected outcomes; geological, mining and metallurgical estimates will be accurate; no significant and continuing adverse changes in financial markets will occur that will have a material impact on production; there will be no material unanticipated operational or technical difficulties; personnel will be available, and continue to be available, to achieve expected outcomes, modified or otherwise, at Mount Polley; there will be no material delay of the ongoing rehabilitation and restoration activities at the Mount Polley mine; there will be no material unanticipated challenges with stakeholders at the Mount Polley mine; and the Mount Polley mine will achieve expected production outcomes in accordance with the long term mine plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We can give no assurance that the forward-looking information will prove to be accurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Imperial’s actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements constituting forward-looking information. Important risks that could cause Imperial’s actual results, revenues, performance or achievements to differ materially from Imperial’s expectations include, among other things: operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks; risks of failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated; risks related to changes in project parameters as plans continue to be refined; risks related to economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation) that may impact the Mount Polley mine; uncertainties as to actual timing of completion of rehabilitation and restoration of the areas affected by the August 4, 2014 breach of the tailings embankment at the Mount Polley mine; uncertainties relating to mineral resource estimates; uncertainties related to the geology, continuity, grade and estimates of mineral resources and the potential for variations in grade and recovery rates; labour pool constraints; unanticipated difficulties with or shortages of labour or interruptions in production; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses and that Imperial may not achieve stated production outcomes; and other hazards and risks disclosed within Imperial’s Management’s Discussion and Analysis for the year ended December 31, 2014 and other public filings which are available on Imperial’s profile on SEDAR at www.sedar.com. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Imperial does not undertake to update any forward looking information, except in accordance with applicable securities laws.

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