iMetal Resources Completes Digitally- Enhanced Prospecting and New Interpretation at the Kerrs Gold Project

VANCOUVER, BC / ACCESSWIRE / October 19, 2023 / iMetal Resources Inc. (TSXV:IMR)(OTCQB:IMRFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce completion of both a digitally-enhanced prospecting (DEP) and a data reprocessing and remodeling program at the Company's Kerrs Gold project, which lies within the prolific Abitibi Greenstone Gold Belt 90 kilometres east-northeast of Timmins, Ontario. These programs were designed to generate new and more precise targets for upcoming drilling programs.

Saf Dhillon, Chief Executive Officer, stated: "Our Kerrs Gold project is a highly prospective gold property in the Abitibi Greenstone Belt. The wealth of information available has allowed us to target gold mineralization trends that we believe have a high probability for drilling success. The presence of a historical resource (7,041,460 tonnes grading 1.71 g/t gold yielding 386,467 ounces at a 0.5 g/t gold cut-off) indicates to us that the project has a high potential for economic quantities of gold."

The Kerrs Gold historical resources estimate was disclosed in "NI 43-101 Resource Estimation on the Kerrs Gold Deposit, Matheson, Ontario" prepared for Sheltered Oak Resources Inc. by Garth Kirkham, P. Geo of Kirkham Geosystems Ltd., and dated June 10, 2011. The Company considers the resource estimate relevant and reliable to drive further exploration by the Company as it was completed by a competent Qualified Person to the standards of the day. The resource estimation methods and parameters were as follows:

• Forty-one drill holes were utilized to interpolate the KBX Zone.

• Composite length of 2 m was chosen and composites were weighted by length.

• Sectional interpretations were wire-framed to create 3-D solids of the zones.

• Zones were coded to the composites, and the block model, to constrain the modeling process.

• Composites for the mineralized zone were used to interpolate into the blocks for each zone.

• Ordinary kriging was used as the interpolator.

• Relative elevation modeling was used to guide the ellipse orientation that accounts for the variation in dip due to the synclinal structure.

• A minimum of two composites were used for each block and a maximum of two composites were used per drill hole; a maximum of 12 composites were used per hole.

• A cutting factor was applied for gold with outlier composites limited to 10 g/t Au based on cumulative frequency plots. A zero-cut-off grade was used for the manual polygonal method.