Imperial Reports Production and Red Chris Exploration Update for 2023 Second Quarter - Seite 2

The exploration program at Red Chris is focused on the discovery of additional zones of higher-grade mineralization within the Red Chris porphyry corridor. During the quarter, there were up to four diamond drill rigs in operation, and a further 6,947 metres of drilling was completed during the quarter from 11 drill holes.

At East Ridge, located adjacent to the East Zone, 85 holes have now been completed. Assay results were received for 8 holes during the quarter, with assay results from 1 hole pending. The drilling was undertaken on a nominal 100 metre by 100 metre grid to determine the footprint, understand the mineralization, geotechnical and metallurgical characteristics and to determine the extent and continuity of the higher-grade mineralization within the East Ridge. Drilling to date has tested a corridor 1,000 metres long, 450 metres wide and to a vertical extent of 1,000 metres. Mineralization remains open at depth and to the east.

In March 2023, an updated East Ridge Exploration Target (“Exploration Target”) , was issued with ranges from a lower case of approximately 400 million tonnes at 0.49% copper and 0.42 g/t gold for 4.2 billion pounds copper and 5.4 million ounces gold and an upper case tonnage of approximately 500 million tonnes at 0.47% copper and 0.39 g/t gold for 5.1 billion pounds copper and 6.1 million ounces gold (previously reported in the March 13, 2023 news release). The updated Exploration Target is not included in the current Mineral Resource. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The grades and tonnages in the Exploration Target are estimates based on continuity of mineralization defined by exploration diamond drilling results (previously reported including relevant sections and plans) within the Redstock Intrusive with the lower range estimate in the area with a nominal drill hole spacing of 100 metres by 100 metres and the upper range estimate extended into the area with a nominal drill hole spacing of 100 metres by 200 metres.