iMetal Resources closes $540,901 private placement

Mr. Saf Dhillon reports IMETAL RESOURCES COMPLETES FLOW-THROUGH FINANCING iMetal Resources Inc. has closed its non-brokered private placement of flow-through units. In connection with closing, the company has issued 4,160,777 flow-through units at a price of 13 cents per flow-through unit for gross proceeds of up to $540,901. Each flow-through unit consists of one common share of the company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half of one share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the company at a price of 20 cents until Dec. 17, 2027. The company anticipates the proceeds from the offering will be used to conduct exploration of the company's Gowganda West property, located in the Shining Tree camp of the Abitibi greenstone gold belt within Ontario. In connection with closing, the company paid $37,898 and issued 291,523 share purchase warrants to certain arm's-length parties that assisted in introducing subscribers to the offering. Each finder warrant is exercisable to acquire a common share of the company until Dec. 17, 2027, with 134,615 of the finder warrants exercisable at a price of 13 cents and 156,908 exercisable at a price of 20 cents. All securities issued in connection with the offering are subject to restrictions on resale until April 18, 2026, in accordance with applicable securities laws. Qualified person The technical content of the new release has been reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a director of the company and a qualified person under National Instrument 43-101. About iMetal Resources Inc. iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The flagship property, Gowganda West, is an exploration-stage gold project with a recent discovery hole of 48.5 metres at 0.85 gram per tonne gold that borders the Juby deposit and is located within the Shining Tree camp area in the southern part of the Abitibi greenstone gold belt about 100 kilometres south-southeast of the Timmins gold camp. The 220-hectare Ghost Mountain property, 42 kilometres northeast of Kirkland Lake, lies five kilometres west of Agnico Eagle's Holt and Holloway mine. Carheil is an exploration-stage project with multimetal potential and previous graphite results. The project is about 170 kilometres north of Rouyn-Noranda in the northern Abitibi greenstone belt. We seek Safe Harbor.