iMetal Resources Files Gowganda West Technical Report

iMetal Resources Inc. (IMR) has filed a NI 43-101 technical report for its Gowganda West gold project, authored by director and Qualified Person R. Tim Henneberry, P.Geo. The document consolidates ten years of exploration data, highlighting the 2023 discovery hole, which returned 0.85 g/t Au over 48.5m, and the 2025 follow-up hole, which returned 0.42 g/t Au over 278.35m. Management defines "Zone 1 West" as exhibiting geology and grades comparable to the adjacent McFarlane Lake Mining Limited's 826 Zone.

The report outlines a costed exploration plan requiring $2.25 million, comprising a 39 line-kilometre IP survey ($296,200) and a 5,000-metre drill program ($1.85 million). In conjunction with the filing, the company granted 1,950,000 RSUs and 2,500,000 DSUs to directors, officers, and consultants, with vesting schedules tied to 12 and 24-month periods. This filing follows a series of updates, including a $3.0 million private placement closed in August 2026, the appointment of a VP of Exploration in September, and Phase 4 drill targeting announcements in October.

iMetal Resources Inc. (IMR) has released a technical report that validates its exploration roadmap and confirms the geological model is mature enough to support a costed, targeted drill program. The company’s $2.25 million requirement for the IP survey and drilling is fully covered by the $3.0 million raised in the August 2026 private placement, leaving approximately $750,000 for general working capital. This funding structure eliminates immediate dilution risk for the upcoming program.

The announcement serves as a logical follow-up to the August financing and September/October operational updates, providing clarity on execution steps without introducing unexpected financial data or catalysts. While the report compares the project to the neighboring 826 Zone to provide geological context, it does not constitute a new discovery, resource estimate, or economic indicator. Additionally, the RSU and DSU grants are standard retention tools for early-stage exploration companies and do not materially impact near-term cash flow. The news is expected and incremental, confirming that the company is on track to deploy capital as planned.

iMetal Resources Inc. (IMR) is a pre-revenue mineral exploration company focused on gold and critical minerals within Canada's Abitibi Greenstone Belt. The company’s flagship asset is the Gowganda West project in Ontario, which covers 7,070 hectares. The property is drill-ready and has intersected broad, low-to-moderate grade gold mineralization in polymictic conglomerates.

The company also holds secondary assets, including the Carheil project in Quebec, a natural flake graphite property covering 3,005 hectares that has recorded high-grade intersections, and the Ghost Mountain project in Ontario. Ghost Mountain covers 131.6 hectares and is a gold project currently under review.

iMetal Resources Inc. holds no internal mineral resource estimates or reserves, with all exploration activity at the prospecting and early exploration stage. The land package is strategically located adjacent to McFarlane Lake Mining's Juby Gold Project and the Knight project, a partnership between Orecap Invest Corp. and Agnico Eagle Mines Ltd.