Imperial Metals Provides Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 3, 2015) - Imperial Metals Corporation (the "Company") (TSX:III) -

Further to the Company's press release of last Friday, the Company confirms that, while the Independent Panel has released its report on the cause of the Mount Polley mine tailings breach, investigations by the Conservation Officer Service, Environment Canada, and the Department of Fisheries and Oceans continue.

Further to an investigation into possible breaches of the Fisheries Act, RSC 1985, c. F-14, search warrants were executed by Conservation and Fisheries officers today at the Company's head office and at the Mount Polley mine.

The Company understands warrants to be a normal means of investigation, and cooperated fully with the regulatory authorities.

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.