iMetal Resources Commences Drone Magnetics on its Shining Tree Block Near Gowganda West

VANCOUVER, November 7, 2022 - iMetal Resources Inc. (TSXV:IMR)(OTC PINK:ADTFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce commencement of a drone magnetics survey at its 565-hectare Shining Tree block, 3.75 kilometres west of iMetal's Gowganda West property.

Historic exploration at Shining Tree has consisted of limited mapping, rock sampling and trenching according to Ontario Ministry of Energy, Northern Development and Mines Assessment Database. This work was concentrated in two areas: on the eastern side of Shining Tree Lake, which is largely underlain by Huronian Gowganda metasediments; and south of the lake, which is largely underlain by Archean mafic volcanics. While assay results were not included with the assessment filings, programs in the east and the south ran for multiple years. Exploration targets were copper and base metals in the east and gold silver and cobalt with copper in the south.

Saf Dhillon, Chief Executive Officer, stated: "The Shining Tree District is actively being explored by numerous companies for gold based on the Aris Gold Corp., Juby deposits and we see similar metasediments and metavolcanics underlying our Shining Tree claim group. The drone magnetics program will be directed at highlighting magnetic anomalies and breaks, indicative of potential structural breaks and zones for subsequent ground truthing."

The scientific and technical information contained in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (British Columbia), a director of iMetal and a qualified person as defined in National Instrument 43-101.

About iMetal Resources Inc.

iMetal is a Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. One of its Flagship properties Gowganda West, is an exploration-stage gold project that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 665-hectare Kerrs Gold deposit comprises a series of gold-bearing pyritized quartz vein replacement breccias with a 2011 historic resource, 90 kilometres ENE of Timmins. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle's Holt and Holloway Mine.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

iMetal Resources Inc.
info@imetalresources.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
https://imetalresources.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include results of exploration, variations in results of mineralization, relationships with local communities, market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

SOURCE: iMetal Resources Inc.