Imperial Reports Red Chris Mine Block Cave to Receive $500 Million from the Government of Canada

Imperial Metals Corporation announced that the Federal Government of Canada has committed $500 million to support the Red Chris Block Cave project under the Canada-British Columbia Co-operative Prosperity Agreement. This funding strengthens the business case for the development of the proposed block cave copper-gold operation as the joint venture advances toward a final investment decision.

The project is currently undergoing a Definitive Feasibility Study led by joint venture partner Newmont Corporation. The Red Chris Block Cave is expected to extend the life of the current Red Chris mine by approximately 14 years. The project is expected to create more than 1,800 jobs during construction and sustain a total approximate workforce of 1,500 peak-season operational roles. Additionally, the project sets the foundation for decades of potential additional mining and aims to strengthen critical mineral supply chains.

Imperial Metals Corporation holds a 30% interest in the Red Chris mine, along with 100% holdings in the Mount Polley and Huckleberry mines, and 23 greenfield exploration properties in British Columbia.

"As the Red Chris joint venture advances through the internal approval process toward a final investment decision, this commitment strengthens the business case for the development of its proposed block cave copper-gold operation."