Imperial Announces Sale and Transfer of Iskut Extension of the Northwest Transmission Line to BC Hydro

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2014) - Imperial Metals Corporation ("Imperial") (TSX:III) announces it has completed and closed the sale of the 93 kilometre 287kV Iskut extension of the Northwest Transmission Line to BC Hydro for $52 million. The Iskut extension was built by Highway 37 Power Corp., a subsidiary of Imperial, from the terminus of the Northwest Transmission Line at the Bob Quinn substation to a newly constructed substation at Tatogga Lake. A 16 kilometre 287kV power line connects the Red Chris mine to the Tatogga substation.

Power was first delivered to the Red Chris mine via the Iskut extension on November 7, 2014. To date the substation and main transformer, pit, crusher, overland conveyors, reclaim water systems and the main switchgear in the mill building have been electrified and are now available for service. Mining is underway on both the East and Main zones and the operations personnel have begun crushing and conveying ore to the coarse ore stockpile in preparation for commissioning the mill. As part of the mine commissioning process, an ore stockpile near the gyratory crusher has been established in preparation for commencing mill operations in the coming weeks.

Imperial is pleased to have designed and built the Iskut extension, a key component of the electrification of BC's northwest. The Iskut extension, along with the Northwest Transmission Line, will provide grid power to the newly constructed Red Chris mine and future developments along the 437 kilometre transmission line corridor from Terrace to Tatogga Lake.

"We are very pleased to have been able to work together with the provincial government and the Tahltan nation and be part of the planning and construction of this important new regional development initiative. This will provide the power infrastructure for developments, such as the Red Chris mine, that will provide for long term employment and economic growth in the region," stated Brian Kynoch, President of Imperial.

About Imperial

Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company operates the Mount Polley copper/gold mine in British Columbia and the Sterling gold mine in Nevada. Imperial has a 50% interest in the Huckleberry copper mine and a 50% interest in the Ruddock Creek lead/zinc property, both in British Columbia. Imperial is in development of its wholly owned Red Chris copper/gold property in British Columbia.