Imperial Provides Update on Mount Polley 2023 Production - Seite 2

The 2024 production target for Mount Polley is 34–37 million pounds copper and 37-41 thousand ounces gold.

Red Chris Update

Newmont completed the acquisition of Newcrest Mining Limited during the fourth quarter of 2023 and holds 70% interest in the Red Chris mine. Newmont noted, in a presentation, that considerations for 2024 include “Taking time to assess and integrate the Newcrest assets; thoughtful approach to longer-term view”. Newmont has since taken over the block cave Feasibility Study with further details to be released by Imperial when the information is received from Newmont. Newmont’s reserve and resource estimates are expected to be released along with Newmont’s 2023 year-end results. Being a US listed issuer, the Newmont reserve and resource statement for Red Chris mine and will be reported in line with SEC reporting standards, not NI 43-101 standards.

During the quarter, diamond drill rigs continued to explore at Red Chris. Diamond drilling was focused in the East Zone block cave area gathering geological and geotechnical information.

Block Cave development continues with the second ventilation raise bore expected to be on schedule for completion within the first half of 2024. The ramp is now more than halfway to the extraction level elevation.

Brian Kynoch, P.Eng., Imperial’s President has reviewed the disclosures contained in this news release and is the designated Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).

About Imperial
Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

Imperial Contacts
Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news release are not statements of historical fact and are “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect Imperial management’s expectations or beliefs regarding future events and include, but are not limited to statements regarding: expected gold head grades; meeting production targets; production expectations for Red Chris and Mount Polley mine production; exploration at Red Chris; Imperial’s expectations and timing with respect to current and planned drilling programs at Red Chris, including plans with respect to the completion of the Feasibility Study; potential change in strategy of the current and planned drilling programs at Red Chris; and the expected completion of the first ventilation raise bore at the Red Chris mine.