iMetal Resources Inc. announced results from phase 1 of its 2023 drilling at the Company's Gowganda West project. Drilling included seven holes totaling 2,490m. All seven holes intersected gold mineralization.

Highlights include: 48.5m of 0.85 g/t Au starting at 316.5m; Including 20m of 1.56 g/t Au, which includes 8.0m of 2.97 g/t Au; Intersection is 350m west of previously known mineralization. The results in IMGW-23-04 indicate the whole package of sediments is prospective for gold, and so future work programs will focus not only on drilling off the new discovery, but in further investigating the full rock package. The interval in IMGW-23- April and three intervals with asterisk's above in Table 1 are characterized by a coarse-grained to boulder-sized conglomerate, with moderate to pervasive silica alteration associated with a large intermediate-mafic dyke.

The strongest silica alteration is associated with the highest-grade interval shown in Photo 1.5m. Including 20m of 1. 56 g/t Au, which including 8.0m of2.97 g/t Au and Intersection is 350m west the previously known mineralization.