III Imperial Metals Corporation

Imperial Metals Corporation (the "Company") (TSX:III) reports that on February
26, 2014, Huckleberry Mines Ltd. became aware of a physical failure at its SAG
mill. After investigation it was discovered that there was a broken tooth in the
bull gear. Huckleberry is currently reviewing all options in order to determine
the method in which to safely and efficiently repair the damage. Until that
time, milling at Huckleberry mine will be suspended. Based on currently
available information, it is expected that the SAG mill may not be operational
for as much as four months, depending on the availability of the necessary
replacement parts to repair the bull gear. Huckleberry expects it will be able
to bring forward a number of maintenance activities during the shutdown,
including an upgrade to the mill flotation cells. 


Huckleberry maintains insurance, including business interruption insurance, and
will make a claim thereunder, although there can be no assurance that its
insurance provider will pay on such claim. Huckleberry's property insurance
covers mill repair costs such as equipment purchases, installation,
commissioning and testing. Huckleberry's business interruption insurance also
covers certain standing charges but does not cover lost profits. 


The Company's 50% share of Huckleberry's production during the twelve month
period ended September 30, 2013 was approximately 20 million pounds of copper
and approximately 116,000 ounces of silver. The Company's calculation of
Adjusted EBITDA includes its 50% portion of the net income of Huckleberry, and
the Company's 50% portion of the net income of Huckleberry for the twelve month
period ended September 30, 2013 was $5.6 million. 


Given Huckleberry's cash and short term investments, excluding reclamation
bonds, of $44 million as of February 28, 2014, it is not expected that the
Company or Huckleberry's other investors will need to contribute any cash to
Huckleberry as a result of the shutdown. 


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 50%
interest in the Huckleberry copper/molybdenum mine and has 50% interest in the
Ruddock Creek lead/zinc property, both in British Columbia. The Company is in
development of its wholly owned Red Chris copper/gold property in British
Columbia. 


Cautionary Note Regarding "Forward-Looking Information" 

This press release contains "forward-looking information" or "forward-looking
statements" within the meaning of Canadian and United States Securities Laws,
which we will refer to as "forward-looking information". Except for statements
of historical fact relating to the Company, certain information contained herein
constitutes forward-looking information.


In this press release where we discuss insurance proceeds, duration of
suspension of operations, maintenance, availability of the necessary replacement
parts,  or other matters that have not yet occurred, we are making statements
considered to be forward-looking information or forward-looking statements under
Canadian and United States Securities Laws. We refer to them in this press
release as forward-looking information. 


The forward-looking information in this press release may include words and
phrases about the future, such as: plan, expect, forecast, intend, anticipate,
estimate, budget, scheduled, targeted, believe, may, could, would, might or
will. We can give no assurance the forward-looking information will prove to be
accurate. It is based on a number of assumptions management believes to be
reasonable. It is also subject to risks associated with our business, including
but not limited to risks inherent in the mining and metals business, and risks
associated with the disclosures made in this press release, and those set out in
the Company's Management's Discussion & Analysis in the Company's most recent
Annual Report. 


If our assumptions prove to be incorrect or risks materialize, actual outcomes
may vary materially from what we currently expect as provided in this press
release. We recommend you review the Company's Management's Discussion &
Analysis in the Company's most recent Annual Report, which includes discussion
of material risks that could cause actual results to differ materially from our
current expectations. Forward-looking information is designed to help you
understand management's current views of our near and longer term prospects, and
it may not be appropriate for other purposes. We will not necessarily update
this information unless we are required to by securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Imperial Metals Corporation
Brian Kynoch
President
604.669.8959


Imperial Metals Corporation
Gordon Keevil
Vice President Corporate Development
604.488.2677


Imperial Metals Corporation
Sabine Goetz
Shareholder Communications
604.488.2657
investor@imperialmetals.com

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