IPG Imperial Mining Group Ltd

Imperial Mining Group Ltd. ("Imperial" or the “Company”) (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it has started work on the optimization of its mineral processing and hydrometallurgical flowsheet for scandium and rare earths, at SGS Lakefield, to support the preparation of a Prefeasibility Study of the Crater Lake Project in northeastern Québec. The work is supported by a $500,000 grant from Le Consortium de recherche et d’innovation en transformation métallique (CRITM), which is one of the nine industrial research sector groups (RSRIs) in Québec. CRITM is funded by the Ministère des Ressources Naturelles du Québec. It is a network dedicated to industrial research and offers companies strategic support and financial assistance to carry out their research projects. In December 2022, Imperial applied for funding under CRITM’s Critical and Strategic Minerals program.

Jean-François Pouliot, General Manager of CRITM : “The CRITM is proud to be able to support research projects in the critical and strategic minerals (CSM) sectors, particularly for innovative companies such as Imperial Mining Group." This support is made possible through the research and development support program for the extraction, processing, and recycling of CSM, which is part of the Plan québécois de valorisation des minéraux critiques et stratégiques (PQVMCS) 2020-2025. We would like to emphasize the importance of research and development support for the competitiveness of companies that will actively contribute to positioning Québec as a significant player in the sector.”

President and CEO of Imperial, Pierre Neatby, “We are proud to be a member of the CRITM network and are thankful for the financial support for the development of the flowsheet for the extraction of scandium and rare earths from our flagship Crater Lake Project in northeastern Québec. Governments need to play a supportive role in developing critical metals, such as scandium and rare earths, and at the provincial level, Québec has shown this support. We look forward to continuing our partnership with SGS on the Crater Lake flowsheet, as we continue to advance the project, building on the successful Preliminary Economic Assessment (PEA) issued in July 2022.”

A 600 kg representative bulk sample from Crater Lake was shipped from Sept-Îles, Qc, to the laboratory of SGS Canada Inc. in Lakefield, On. This 600 kg sample is part of a 15-tonne bulk sample from Crater Lake that Imperial has stored in Sept-Îles to complete the development of its flowsheet.  

Director, Technical Services (Hydrometallurgy), Metallurgy & Consulting, Niels Verbaan: “I am very proud to work with Imperial Mining Group on this optimization project, and I look forward to continuing our working relationship with the entire Imperial Mining team on the development of the Scandium Crater Lake deposit.”

Imperial is pleased to work with SGS Canada Inc., which has played an integral part in developing its flowsheet. The results of the pilot work being undertaken by SGS will be an important component of the data requirements for issuing a NI 43-101 compliant Prefeasibility Study.

ABOUT IMPERIAL MINING GROUP LTD.

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

ABOUT SGS CANADA INC.

SGS is the world’s leading testing, inspection and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 98,000 employees, SGS operates a network of over 2,650 offices and laboratories around the world. SGS is constantly looking beyond customers’ and society’s expectations in order to deliver market leading services wherever they are needed. Working together to make the world a better, safer place.

ABOUT CRITM:

Le Consortium de recherche et d’innovation en transformation métallique (CRITM) in Québec is a non-profit organization. The mission of CRITM is to enhance the competitiveness of metal transformation companies through support for innovation. It directly contributes to the realization of applied research projects involving companies and research centers. For more information : https://www.critm.ca/

For further information please contact:

Imperial Mining Group Ltd.Pierre NeatbyPresident and Chief Executive OfficerPhone: +1 (514) 360-0571Email: info@imperialmgp.com

Website: www.imperialmgp.com           Twitter: @imperial_mining         Facebook: Imperial Mining Group

This press release may contain forward-looking statements relating to the Company’s operations or to its business environment. Such statements are based on the Company’s operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise. Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.

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