Imperial Reports Third Quarter 2026 Financial Results

(TSX:III) Imperial Metals Corporation reported financial results for the three and nine months ended September 30, 2026. Consolidated production for Q3 2026 was 8,535,703 pounds copper and 11,648 ounces gold. Total revenue for the September 2026 quarter was $149.9 million, compared to $168.8 million in the 2025 comparative quarter. Mount Polley mine had 1.0 concentrate shipments in Q3 2026 (2025: 1.5), and Red Chris mine (100% basis) had 4.0 concentrate shipments (2025: 5.0). The average London Metals Exchange cash settlement copper price per pound was US$6.41 in Q3 2026 (2025: US$4.44), and the LBMA gold price per troy ounce averaged US$4,266 (2025: US$3,454). The average US/CDN Dollar exchange rate was 1.399 in Q3 2026 (2025: 1.377). In CDN Dollar terms, the average copper price was CDN$8.96 per pound (2025: CDN$6.12), and the average gold price was CDN$5,967 per ounce (2025: CDN$4,758). Revenue revaluation for Q3 2026 was $5.7 million (2025: $7.2 million). Net income for Q3 2026 was $1.2 million ($0.01 per share), compared to $38.5 million ($0.23 per share) in Q3 2025. Income from mine operations decreased to $22.9 million (2025: $72.1 million), a decrease of $49.2 million. Net interest expense decreased to $3.5 million (2025: $5.9 million), and tax expense decreased to $10.3 million (2025: $21.1 million). Capital expenditures including leases were $64.6 million in Q3 2026, down from $69.1 million in Q3 2025. Q3 2026 expenditures included $36.0 million in exploration and development, $18.8 million for tailings dam construction, and $9.8 million of other capital. Mount Polley Q3 2026 production was 4.104 million pounds copper and 7,931 ounces gold (Q3 2025: 7.655 million pounds copper, 9,285 ounces gold). The current mine plan targets 5.8 million pounds copper and 11,000 ounces gold for Q4 2026. Mount Polley ore milled in Q3 2026 was 1,871,519 tonnes, with a copper grade of 0.16% and gold grade of 0.19 g/t. Recovery rates were 60.6% for copper and 69.4% for gold. The Boundary pit has an estimated reserve of 592,039 tonnes at 0.65% copper, 0.58 g/t gold, and 4.39 g/t silver. Approximately 300,000 tonnes of waste rock were removed from Boundary pit in Q3 2026. Non-acid generating waste placed on the tailings storage facility totaled approximately 2.5 million tonnes. Revised 2026 production guidance for Mount Polley is 16.0–18.0 million pounds copper and 30,500–33,700 ounces gold. Since February 2026, 41 diamond drill holes totaling 8,620 metres have been completed at Mount Polley. Mount Polley exploration, development, and capital expenditures in Q3 2026 were $18.1 million (Q3 2025: $36.0 million). Red Chris (100%) Q3 2026 production was 14.771 million pounds copper and 12,391 ounces gold (Q3 2025: 20.900 million pounds copper, 21,660 ounces gold). Imperial’s 30% share was 4.431 million pounds copper and 3,717 ounces gold. Red Chris ore milled in Q3 2026 was 2,238,892 tonnes, with a copper grade of 0.36% and gold grade of 0.30 g/t. Recovery rates were 82.4% for copper and 56.9% for gold. Imperial’s 30% share of Red Chris exploration, development, and capital expenditures was $45.2 million in Q3 2026 (Q3 2025: $30.7 million). The Red Chris Block Cave project is located in the Golden Triangle of British Columbia, Canada, and is designed to mine the porphyry copper-gold system beneath the existing open pit. The feasibility study is nearing completion, with a full funds investment decision expected in early 2027. On a 100% basis, the first phase is expected to produce more than 1.8 billion pounds copper and 3.0 million ounces gold over thirteen years. Construction is expected to commence in 2027, with commercial production targeted for 2033. The project is expected to ramp up to an average of 145–187 million pounds copper and 275–325 thousand ounces gold per year between 2035 and 2040. The Red Chris mine has the potential for up to 70 years of mine life. Forty percent of the planned upfront investment is expected to support potential future expansions. In July 2026, the Government of Canada announced a $500 million contribution to support the project. Amended regulatory approvals from the Province of British Columbia were received in June 2026, enabling the transition to block caving. The amended Environmental Assessment Certificate was achieved through a consent-based process with the Tahltan Nation. The total estimated development capital for the project, incorporating the $500 million grant, will be released following completion of a National Instrument 43-101 technical report. Huckleberry mine remains on care and maintenance. For Q3 2026, Huckleberry incurred $1.9 million in operating costs and $0.1 million in depreciation expense (Q3 2025: $1.8 million operating cost, $0.3 million depreciation).

Imperial Intersects 5 Metres of 5.51 Grams Per Tonne Gold at the Porcher Island Property

(TSX:III) Imperial Metals Corporation reports assay results from its spring 2026 diamond drilling program at the Porcher Island property, located 35 kilometres south-southwest of Prince Rupert, British Columbia. The company completed ten drill holes totaling 1,380 metres from four helicopter-supported drill pads, with all holes intersecting gold and silver mineralization. Significant intervals from the 2026 program include: PI-26-01 intersected 1.0 metre grading 6.17 g/t Au and 5.65 g/t Ag, and 1.9 metres grading 4.06 g/t Au and 1.11 g/t Ag; PI-26-02 intersected 1.7 metres grading 3.05 g/t Au and 2.12 g/t Ag, and 4.5 metres grading 4.77 g/t Au and 3.21 g/t Ag; PI-26-03 intersected 1.1 metres grading 5.31 g/t Au and 5.23 g/t Ag, and 1.0 metre grading 4.32 g/t Au and 3.15 g/t Ag; PI-26-04 intersected 1.1 metres grading 3.28 g/t Au and 2.48 g/t Ag; PI-26-05 intersected 1.0 metre grading 4.72 g/t Au and 2.30 g/t Ag; PI-26-06 intersected 1.5 metres grading 4.09 g/t Au and 4.00 g/t Ag, and 2.0 metres grading 2.42 g/t Au and 0.85 g/t Ag; PI-26-08 intersected 2.3 metres grading 3.63 g/t Au and 1.44 g/t Ag; PI-26-10 intersected 45.5 metres grading 1.24 g/t Au and 0.82 g/t Ag, including 17.0 metres grading 2.25 g/t Au and 1.64 g/t Ag, and 5.0 metres grading 5.51 g/t Au and 4.27 g/t Ag. The Porcher Island property is 100% owned by Imperial and hosts two past producing gold mines, Edye Pass and Surf Point, which operated from 1919 to 1939, with historic production estimated at 77,952 tons grading 0.29 oz/ton gold. Gold mineralization is hosted in shear zones and quartz veins within a quartz diorite stock, associated with pyrite, chalcopyrite, molybdenum, and elevated tellurium. In 2007, nine angled drill holes from three south-dipping drill fans in the Christmas Tree zone intersected multiple intervals grading more than 2.0 g/t gold, including CL-07-42 (6.7 metres at 2.9 g/t Au), CL-07-41 (10.2 metres at 2.1 g/t Au), CL-07-40 (9.9 metres at 3.8 g/t Au), CL-07-34 (24.2 metres at 1.6 g/t Au), CL-07-35 (14.3 metres at 3.4 g/t Au), CL-07-36 (15.7 metres at 2.3 g/t Au), CL-07-37 (16.3 metres at 2.2 g/t Au), CL-07-38 (17.4 metres at 4.0 g/t Au), and CL-07-39 (14.5 metres at 5.1 g/t Au). The strongest gold intercept from the 2026 program was from PI-26-10 in the Christmas Tree zone, drilled vertically from the same pad as the 2007 holes, testing the zone’s northern extension. Three other drill pads in 2026 tested structures north and west of the Christmas Tree zone, with significant intercepts including 4.5 metres grading 4.77 g/t Au from PI-26-02 and 2.3 metres grading 3.63 g/t Au from PI-26-08. The 2026 drill results will be integrated into the project database and interpreted to support planning for additional exploration at Porcher Island. Imperial will continue to pursue options to reveal value at Porcher Island, including completing ore sorting test work to consider the potential for direct ore shipping, which could eliminate the need for a processing plant or tailings storage and significantly reduce capital requirements and environmental footprint. The property sits at tidewater, facilitating ocean transportation. Jim Miller-Tait, P.Geo., Vice President Exploration, reviewed the news release as the designated Qualified Person for the Porcher Island exploration program. The Porcher Island samples were analyzed at Activation Laboratories Ltd. in Kamloops, with a full QA/QC program using blanks, standards, and duplicates. Reported assay intervals represent apparent widths of mineralization, with insufficient geological information to confirm true widths. Imperial Metals Corporation also holds 100% of the Mount Polley and Huckleberry mines, 30% of the Red Chris mine, and a portfolio of 21 exploration properties in British Columbia.

Imperial Reports Red Chris Mine Block Cave Planning Progress and 2026 Third Quarter Production Update

(TSX:III) Imperial Metals Corporation reports advancement on the definitive feasibility study for the Red Chris Block Cave mine and provides mine production results for Red Chris and Mount Polley mines for the third quarter of 2026. The Red Chris Block Cave project is located in the Golden Triangle of British Columbia, Canada, and is designed as a large-scale copper-gold operation with an underground block cave mine, expanded processing facilities, and upgraded site infrastructure. Imperial holds a 30% ownership interest in Red Chris through a joint venture with Newmont, the project operator. The feasibility study is nearing completion, with a full funds investment decision expected in early 2027. On a 100% ownership basis, the first phase of the Red Chris Block Cave project is expected to produce 3.0 million ounces of gold and more than 1.8 billion pounds of copper over an initial thirteen-year cave life. Construction is expected to commence in 2027, with first production targeted for 2033. The project is expected to ramp up to an average between 275,000 and 325,000 ounces of gold per year, and between 145 and 187 million pounds of copper per year between 2035 and 2040. The Red Chris mine has the potential for up to 70 years of mine life. Forty percent of the planned upfront investment in processing facilities, material handling systems, and other key infrastructure is expected to support potential future expansions. In July 2026, the Government of Canada announced a $500 million contribution to support the project, with terms to be finalized in the coming months. The project received amended regulatory approvals from the Province of British Columbia in June 2026, enabling the transition from open pit mining to block caving, and the amended Environmental Assessment Certificate was achieved through a consent-based process with the Tahltan Nation. Imperial’s third quarter consolidated production from its 30% share of Red Chris and 100% of Mount Polley was 8.535 million pounds of copper and 11,648 ounces of gold. Imperial anticipates consolidated 2026 production guidance of 79–87 million pounds copper and 87,500–96,500 ounces gold. Red Chris mine (100%) produced 14.771 million pounds copper and 12,391 ounces gold in Q3 2026, compared to 20.900 million pounds copper and 21,660 ounces gold in Q3 2025, with copper production down 29% and gold production down 43% year-over-year, partially offset by a 17% increase in throughput. Imperial’s 30% share of Red Chris Q3 2026 production was 4.431 million pounds copper and 3,717 ounces gold. Red Chris ore milled in Q3 2026 was 2,238,892 tonnes, with a copper grade of 0.36%, gold grade of 0.30 g/t, copper recovery of 82.4%, and gold recovery of 56.9%. Mount Polley mine produced 4.104 million pounds copper and 7,931 ounces gold in Q3 2026, compared to 7.655 million pounds copper and 9,285 ounces gold in Q3 2025. Mount Polley ore milled in Q3 2026 was 1,871,519 tonnes, with a copper grade of 0.164%, gold grade of 0.190 g/t, copper recovery of 60.6%, and gold recovery of 69.4%. Throughput at Mount Polley averaged 22,875 tonnes per day in August and September 2026, compared to 17,260 tonnes per day from January to July. Mill feed in Q3 2026 was sourced 18% from Springer pit Phase 5, 16% from Phase 4, 19% from C2 pit, and 46% from stockpiles. The Boundary pit at Mount Polley has an estimated reserve of 592,039 tonnes at 0.65% copper, 0.58 g/t gold, and 4.39 g/t silver, with approximately 300,000 tonnes of waste rock removed in Q3 2026. Non-acid generating waste placed on the tailings storage facility totaled approximately 2.5 million tonnes. The revised 2026 production guidance for Mount Polley is 16–18 million pounds copper and 30,500–33,700 ounces gold. Steve Robertson, P. Geo., Vice President Corporate Development, is the designated Qualified Person for the disclosure.

Imperial Reports Second Quarter 2026 Financial Results

(TSX:III) Imperial Metals Corporation reported total revenue of $166.5 million in the June 2026 quarter compared to $175.8 million in the 2025 comparative quarter. Consolidated production for the second quarter of 2026 was 8,759,242 pounds copper and 11,226 ounces gold. Net income for the June 2026 quarter was $22.0 million ($0.12 income per share), down from $40.6 million ($0.25 income per share) in the 2025 comparative quarter. Capital expenditures including leases were $67.0 million in the June 2026 quarter, with $29.8 million in exploration and development, $12.4 million for tailings dam construction, and $24.8 million of other capital. Mount Polley mine produced 3.382 million pounds copper and 6,848 ounces gold, while Red Chris mine (100% basis) produced 17.924 million pounds copper and 14,591 ounces gold in Q2 2026. The company projects that by the fourth quarter of 2026, higher grade material from Phase 5 at Mount Polley should begin to be delivered to the mill and reduce or eliminate the need to process lower grade stockpiles. Guidance for 2026 Red Chris production (100%) remains 60.0 – 66.0 million pounds of copper and 47,500 – 52,500 ounces of gold.

Imperial Reports Production Update for Red Chris Mine 2026 Second Quarter

(TSX:III) Imperial Metals Corporation reports copper and gold production for the second quarter 2026 from Red Chris mine. Red Chris metal production (100%) for the second quarter of 2026 was 17.924 million pounds copper and 14,591 ounces gold. Copper production was down 24% and gold production down 36% compared with the second quarter of 2025. Imperial’s 30% share of Red Chris mine production was 5.377 million pounds copper and 4,377 ounces gold. Ore milled for the three months ended June 30, 2026 was 2,155,695 tonnes, with a copper grade of 0.45% and gold grade of 0.35 g/t. Recovery rates were 83.8% for copper and 59.4% for gold. The company projects that both copper and gold production remain on track to achieve the budgeted 2026 production, with guidance for 2026 Red Chris production (100%) at 60 - 66 million pounds of copper and 47,500 – 52,500 ounces of gold.

Imperial Reports Mount Polley Permit Issuance, Mount Polley Production Update for 2026 Second Quarter, and Huckleberry Mine Exploration Results

(TSX:III) Imperial Metals Corporation reports that the British Columbia Environmental Assessment Office has recommended approval of Mount Polley Tailings Dam construction to the 987 metre elevation from the previously permitted 974 metre elevation. Copper and gold production for the second quarter 2026 from Mount Polley mine was 3.382 million pounds copper and 6,848 ounces gold. Ore milled for the three months ended June 30, 2026 was 1,683,357 tonnes at a grade of 0.152% copper and 0.199 g/t gold, with copper recovery at 60.0% and gold recovery at 63.6%. Stripping activities for the Phase 5 pushback continued during the quarter with approximately 6.032 million tonnes of rock mined, and 2.725 million tonnes of non-acid generating rock delivered to the tailings storage facility embankment for buttress construction. The 2026 diamond drilling program at Huckleberry mine consisted of 22 NQ core size drill holes totalling 7,047 metres. The company projects that Mount Polley is expected to meet the range of guidance for 2026 production and that a reopening plan for the Huckleberry mine will be completed by the end of 2026. Imperial also holds a portfolio of 20 greenfield exploration properties in British Columbia.

Imperial Reports Red Chris Mine Block Cave to Receive $500 Million from the Government of Canada

(TSX:III) Imperial Metals Corporation reports that the Federal Government of Canada has announced its commitment to contribute $500 million to support the Red Chris Block Cave project in connection with the Canada-British Columbia Co-operative Prosperity Agreement. The Red Chris joint venture is advancing through the internal approval process toward a final investment decision, and Newmont Corporation is in the process of completing a Definitive Feasibility Study for the project. The Red Chris Block Cave is expected to create more than 1,800 jobs during construction and sustain a total approximate workforce of 1,500 peak-season operational roles. The project is expected to extend the life of the current Red Chris mine by approximately 14 years. Imperial holds a 30% interest in the Red Chris mine, as well as 100% of the Mount Polley mine and the Huckleberry mine, and a portfolio of 23 greenfield exploration properties in British Columbia. The company states that the project represents a significant opportunity to create long-term value for Imperial’s shareholders, strengthen critical mineral supply chains, and deliver long-term benefits for local communities, Indigenous partners, British Columbia, and Canada.

Red Chris Mine Receives Major Regulatory Authorizations for Block Cave Project

(TSX:III) Imperial Metals Corporation announced that the Province of British Columbia has granted key authorizations approving the transition of Red Chris from open pit operations to a block cave mine. The authorization includes an amended Environmental Assessment Certificate and an amended Mines Act authorization, permitting an extension of mine life into the mid-2040s. The Red Chris Block Cave is expected to generate over 1,800 construction jobs and sustain approximately 1,500 peak-season operating roles. The project is anticipated to increase Canada’s copper production by roughly 15 percent. The joint venture partnership (Newmont Corporation 70%, Imperial 30%) expects to make a final investment decision later this year. A Definitive Feasibility Study and a detailed cost estimate are being completed by Newmont Corporation as operator of the Red Chris mine. Imperial holds a 30% interest in Red Chris, as well as 100% of the Mount Polley and Huckleberry mines, and a portfolio of 23 greenfield exploration properties in British Columbia.

Imperial Announces Normal Course Issuer Bid

Imperial Metals Corporation (TSX:III) announced that the Toronto Stock Exchange has accepted its Notice of Intention to make a Normal Course Issuer Bid. The Company may purchase up to 890,855 common shares, representing 0.5% of its 178,171,166 issued and outstanding shares as of May 20, 2026. Daily purchases will not exceed 64,567 common shares or 25% of the average daily trading volume of 258,269 shares, with the Bid commencing May 28, 2026 and ending no later than May 27, 2027. Shares acquired will be used to satisfy obligations under the Non-Management Directors’ Plan and Amended and Restated Share Purchase Plan. Funding for purchases will come from the Company’s working capital. In the previous 12 months, Imperial repurchased 166,500 shares at a volume weighted average price of $6.08 per share. Shareholders may obtain a copy of the Notice filed with the TSX by contacting the Chief Financial Officer.

Imperial Reports First Quarter 2026 Financial Results

Imperial Metals Corporation (TSX:III) reported financial results for the three months ended March 31, 2026, with consolidated production of 10,093,345 pounds copper and 13,641 ounces gold. Total revenue for the quarter was $154.6 million, down from $176.6 million in the same quarter of 2025, while net income was $14.4 million ($0.08 per share) compared to $41.3 million ($0.26 per share) in 2025. Capital expenditures including leases were $40.2 million, with $20.8 million in exploration and development. The company remains on track to meet both copper and gold production guidance for 2026, and is advancing the Red Chris block cave feasibility study. The company had not hedged any copper, gold or US/CDN Dollar exchange as of March 31, 2026.

Imperial Reports Production Update for Red Chris Mine 2026 First Quarter

Imperial Metals Corporation (TSX:III) reported copper and gold production results for the first quarter of 2026 from the Red Chris mine in British Columbia. Total Red Chris production (100%) was 18.982 million pounds of copper and 20,108 ounces of gold, both down from the same period in 2025. Imperial's 30% share amounted to 5.695 million pounds copper and 6,032 ounces gold. Despite the year-over-year decrease, production was in line with budgeted 2026 figures, and guidance for the full year remains unchanged at 60-66 million pounds copper and 47,500–52,500 ounces gold. The company also holds 100% of the Mount Polley and Huckleberry mines and a portfolio of 23 greenfield exploration properties in British Columbia.