Imperial Mining Announces Extension of the Private Placement of Units and Flow-Through Shares

MONTREAL, Jan. 13, 2023 - Imperial Mining Group Ltd. ("Imperial? or the "Corporation") (TSX VENTURE: IPG) announce the extension of the closing of the balance of its non-brokered private placement (the "Offering"), as previously announced on December 23, 2022, of shares on a "flow-through" basis at a price of $0.11 per share out of a maximum gross proceed of $500,000, and of units (each, a "Unit") at a price of $0.09 per Unit out of a maximum gross proceed of $500,000. Under the first tranche of the Offering which closed on the same date, the Corporation was able to raise an aggregate gross proceed of $441,778.08 and the Offering is set for an aggregate gross proceed of a maximum of $1,000,000. The extension of the Offering is subject to the final approval of the TSX Venture Exchange.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the advancement of 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 exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.

For further information please contact:

Peter J. Cashin
President and Chief Executive Officer
Phone: +1 (514) 360-0571
Email: info@imperialmgp.com

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

Neither 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.