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Quesnel Water Meets Safe Drinking Guidelines

Quesnel Water Meets Safe Drinking Guidelines

August 7, 2014

Vancouver - August 7, 2014 | Imperial Metals Corporation (III-TSX)

This afternoon BC Ministry of Environment released preliminary results of their Quesnel Lake and Quesnel River water quality testing. The testing results confirmed the water samples met both provincial and federal safe drinking water guidelines. The BC Ministry of Environment also stated that “impact to aquatic life and fish is not expected”.

These results confirm the monitoring undertaken by mine personnel during regularly scheduled tailings pond analysis.

The BC Interior Health Authority is undertaking further sampling before lifting the water use restrictions.

We are focused on mitigating immediate effects and understanding the cause of the breach. Our priorities continue to be human and environmental safety.

Debris in Quesnel Lake is being cleared and contained. The log boom boats and crews we commissioned have secured the timber that was swept into the lake and are now gathering lighter debris. Recovery of the timber onto land will commence tomorrow.

We submitted a preliminary Environmental Impact Assessment and Action Plan to the Province of British Columbia yesterday and have commenced working with provincial regulators to implement the Action Plan.

Imperial Metals also held a community meeting today in Likely, BC to provide further details to the community on actions taken and plans to continue stabilizing the mine site.

We wish to thank everyone who has been involved in the mitigation efforts to date.

Media Inquiries
Deena Tokaryk | O: 604.681.1407 | C: 778.990.9545 |

Imperial Contact
Steve Robertson | Vice President Corporate Affairs | 604.488.2669

Cautionary Note Regarding “Forward-Looking Information”

This press release contains “forward-looking information” or “forward-looking statements” within the meaning of Canadian and United States Securities Laws, which we will refer to as “forward-looking information”. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking information. If we discuss mine plans; costs and timing of current and proposed exploration, development, production and marketing; capital expenditures; construction of transmission lines; cash flow; working capital requirements and the requirement for additional capital; operations; revenue; margins and earnings; future prices of copper and gold; future foreign currency exchange rates; future accounting changes; future prices for marketable securities; future resolution of contingent liabilities; receipt of permits; or other matters that have not yet occurred, we are making statements considered to be forward-looking information or forward-looking statements under Canadian and United States Securities Laws.

The forward-looking information in this press release may include words and phrases about the future, such as: plan, expect, forecast, intend, anticipate, estimate, budget, scheduled, believe, may, could, would, might or will. We can give no assurance the forward-looking information will prove to be accurate. It is based on a number of assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities or exchange rates, that the mining operations will operate and the mining projects will be completed in accordance with their estimates and achieve stated production outcomes and such other assumptions and factors as set out herein. It is also subject to risks associated with our business, including but not limited to: risks inherent in the mining and metals business; commodity price fluctuations and hedging; competition for mining properties; sale of products and future market access; mineral reserves and recovery estimates; currency fluctuations; interest rate risks; financing risks; regulatory and permitting risks; environmental risks; joint venture risks; foreign activity risks; legal proceedings; and other risks that are set out in the Company’s current Management’s Discussion & Analysis. If our assumptions prove to be incorrect or risks materialize, our actual results and events may vary materially from what we currently expect as provided in this press release. We recommend review of the Company’s current Management’s Discussion & Analysis, which includes discussion of material risks that could cause actual results to differ materially from our current expectations. Forward-looking information is designed to help you understand management’s current views of our near and longer term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

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