Imperial Mining Sponsor Study on Origin of Crater Lake Scandium Deposit by McGill University – October 03, 2023 at 07:31 am EDT

MONTREAL, October 03, 2023 (GLOBE NEWSWIRE) — Imperial Mining Group Ltd. (“Imperial”) (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it is sponsoring a 3-year research project at McGill University to better understand the unique nature of the scandium/Rare Earths deposits at Imperial’s Crater Lake Project in northeastern Quebec that Preliminary Economics complying with 43-101 . The assessment (PEA) was issued in July 2022. An updated resource estimate was issued on September 14, 2023. Imperial will benefit from this study by better understanding how to target high levels of scandal within its deposit with high predictability and increase mining profitability. his. activity.

McGill research aims to develop a genetic model for Scandium and other Rare Earth Elements featured in the Crater Lake Project. The research will be led by Dr. Anthony Williams-Jones, Professor and Logan Chair from the Department of Earth and Planetary Sciences. Professor Williams-Jones’ has gained international recognition for his work in the mining of mineral deposits, particularly those of precious metals, including scandium. The results of the work will also help the Ph.D candidate to get his degree.

The work to be done in the next three years is an extension of the research started in 2020.

Dr. Anthony Williams-Jones, Program Director said: “I am delighted to be given the opportunity to continue this research. I consider the Crater Lake project to be the world’s most exciting hard rock project and one that could lead to a mine capable of supplying much of the world’s mining demand for the foreseeable future.”

President and CEO of Imperial, Pierre Neatby, “Based on Professor Anthony Williams-Jones’ knowledge of the Crater Lake reservoir, we hope to use this research to help plan the construction of the Crater Lake Mine. This will reduce our Capex and Opex by targeting even the richest scandium areas which will increase metallurgical recovery and improve our knowledge of scandium deposit formation for future expansion efforts. We look to the future of these results with great anticipation.”

Since beginning exploration of the Crater Lake area in 2017, Imperial determined that ferrosyenite is generally enriched in the sediments compared to other rock units in the Crater Lake Intrusion. Previous work using grab samples showed that scandium is hosted by a type of clinopyroxene-rich ferrosyenite, which reaches scandium levels ranging from several hundred to several thousand ppm. The North Zone of the TG Zone has Indicated Resources of 11.8 million tons grading 275.9 g/t Sc2O3 and Estimated Resources of 15.9 million tons grading 268.4 g/t Sc2O3 according to a press release issued on September 14, 2023 by Ni 143-1 updated ore. resource estimate for the TG Scandium-Rare Earth Zone completed by InnovExplo Inc. of Val d’Or, Quebec. (The effective date of the mineral resource estimate is August 3, 2023). The challenge for Imperial and McGill is to find an effective way to determine where high-grade areas can occur in the region to improve the economic results of the PEA released in July 2022.

The technical content in this press release was reviewed and verified by Pierre Guay, P. Geo. (OGQ no. 1635), Imperial Technical Adviser, Exploration, Geologist and Qualified Person as defined by NI43-101.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the development of its metals technology projects in Québec. Imperial is publicly listed on the TSX Corporate Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral development professionals.

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