Imperial Reports Production for 2025 Third Quarter at Red Chris Mine

The October 23, 2025 news release reports third-quarter production for Imperial's 30% interest in the Red Chris mine. On a 100% basis, the mine produced 20.9 million pounds of copper and 21,660 ounces of gold. This represents a 10% year-over-year increase in copper production (from 19.0M lbs in Q3 2024) and a significant 61% year-over-year increase in gold production (from 13,414 oz in Q3 2024).

Imperial's 30% share of production for the quarter was 6.27 million pounds of copper and 6,498 ounces of gold. The improved performance was driven by higher grades for both copper (0.589%) and gold (0.562 g/t).

This news is routinely positive. It confirms continued strong operational performance at the Red Chris mine, the company's most significant asset, which it holds in a joint venture with operator Newmont. The substantial 61% increase in gold production year-over-year is a notable highlight and a significant contributor to revenue given the high prevailing gold prices.

When viewed in the context of the historical news flow, this release reinforces a powerful turnaround narrative: - Operational Consistency: This news comes just three days after a very positive update from the Mount Polley mine (October 20, 2025), where the company raised its full-year 2025 copper production guidance. The back-to-back strong reports from both of the company's producing assets demonstrate solid execution across the portfolio. - Meeting Expectations: For Red Chris, year-to-date production after nine months stands at approximately 77% of the full-year 2025 guidance provided in February 2025. The mine is on track to meet its targets, which is what the market expects from a Newmont-operated asset. - Financial Strength: The strong production, combined with high metal prices, generates significant cash flow. This is critical for Imperial as it continues to address its working capital deficiency (a persistent risk noted in all recent financial reports) and positions the company to finance its share of the multi-billion dollar Red Chris block cave expansion. - De-risking Progress: Over the past year, the company has successfully resolved a key legal challenge for its Mount Polley mine (August 6, 2025), received a life-of-mine permit amendment (August 29, 2025), and cleaned up its balance sheet by converting $47 million of debentures into equity (August 18, 2025). This operational update adds another layer of positive execution to the story.

While the news is good, it is not a game-changer. It confirms the mine is performing as guided. The market has already priced in a significant turnaround, as evidenced by the stock's move from $1.70 to over $6.00 in the past year. This report solidifies the bull case but does not materially alter it.

Imperial Metals Corporation is a British Columbia-focused mining company engaged in the production and exploration of copper and gold. The company operates two main assets: 1. Mount Polley Mine: A 100%-owned open-pit copper-gold mine in south-central British Columbia. 2. Red Chris Mine: A 30% non-operated joint venture interest in this large open-pit copper-gold mine in northwest British Columbia. Newmont Corporation owns the remaining 70% and is the operator.

The flagship project is the Red Chris mine, particularly the development of a world-class block cave underground mine beneath the current open pits. This expansion project is expected to significantly increase production and extend the mine's life for decades, but it requires substantial capital investment.