iMetal Resources Completes Digitally Enhanced Prospecting Survey on Its Ghost Mountain Project

VANCOUVER, May 4, 2023 - iMetal Resources Inc. (TSXV:IMR)(OTCQB:IMRFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce completion of a Digitally Enhanced Prospecting (DEP) survey at its 220-hectare Ghost Mountain property, 42 km NE of Kirkland Lake, an lying 5 km directly west of Agnico Eagle's Holt and Holloway Mines and within 1 km of the Porcupine-Destor Fault Zone.

Saf Dhillon, Chief Executive Officer, stated: "Ghost Mountain lies near several active gold exploration and mining operations including Agnico Eagle's Holt and Holloway Mines Property and McEwen Mining's Black Fox Mine. The DEP survey is the next step in our staged exploration program to bring Ghost Mountain to the drilling stage."

Waring Minerals Inc. completed the DEP program at Ghost Mountain. UAV LiDAR was flown in order to locate outcrops on the property for the purposes of sampling and mapping. The DEP results will be combined with the 2022 AeroVision^® results to guide the next stage of exploration which will include defining drill targets. A number of priority target areas were identified and sampled.

The geology of Ghost Mountain can be divided into a south and north section. The north is underlain by mafic to ultramafic intrusive rocks of the Kidd-Munro Group, while the south of the property is underlain by a mixed group of felsic to mafic metavolcanic rocks and clastic metasedimentary rocks of the Destor Porcupine Complex. Both are important regional assemblages and host numerous world-class Gold and VMS deposits.

The Company completed an AeroVision^® magnetic survey in 2022. The processing and interpretation of the survey data resulted in a detailed geo-structural map, numerous high-resolution magnetic maps, two 3D magnetic susceptibility models, and a predictive targeting map which provided three solid targets for potential gold mineralization.

The scientific and technical information contained in this news release has been reviewed and approved by Scott Zelligan, P. Geo (Ontario), VP Exploration 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.