Imperial Mining Receives Positive Results for the Preliminary Economic Assessment (PEA) for Crater Lake

Project Highlights (all amounts are in CA$, unless otherwise stated):

MONTREAL, June 13, 2022 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it has received results of a positive Preliminary Economic Assessment (PEA) for the Crater Lake TG Zone Scandium-Rare Earth Element (Sc-REE) deposit from Imperial’s independent consultants, WSP Canada (“WSP”). The results show positive cash-flow, strong Internal Rate of Return (IRR) and Net Present Value (NPV) metrics at discount rates of up to 15% for a potential mining operation at the Crater Lake, Quebec (Table 1). The Crater Lake property is in northeastern Québec, approximately 200 km east northeast of Schefferville, Québec (Figure 1).