iMetal Resources Inc. announces the submission of graphite samples for petrographic analysis from the Company's Carheil project, which lies in the Northern Abitibi Greenstone Belt in Québec. Samples were sourced from each of the multiple graphite horizons intersected during the Phase I 2023, three-hole, 1053 metre program, to characterize the graphite flake size. Phase I 2023 drilling encountered a graphite-bearing sedimentary unit occurring between volcanic units. The sedimentary unit hosts several multi-meter graphite-rich horizons: previously reported results (drill length not true width) from these horizons are highlighted below (Cg = Graphitic Carbon): Hole CA-23-01: 3.90 m at 7.08% Cg, from 151.1 metres, including 11.5% Cg over 1.9 m (ZONE A); and 8.45 m at 2.53% Cg, from 237.6 m, including 7.05% Cg over 1.5 m (ZONE C). Hole CA-23-02: 4.65 m at 5.11% Cg, from 138.8 m, including 12.9% Cg over 1.2 m (ZONE A); and 10.55 m at 2.89% Cg, from 196.5 m (ZONE B); and 5.30 m at 4.25% Cg, from 242.9 m, including 7.90% Cg over 1.2 m (ZONE C). Hole CA-23-03: 4.90 m at 1.93% Cg, from 156.1 m (ZONE A); and 4.70 m at 2.76% Cg, from 263.3 m, including 4.70% Cg over 2.1 m (ZONE C). Phase I 2023 samples have been submitted to AGAT Laboratories in Calgary for Petrographic Analysis,
which includes detailed thin section petrography, including: petrographic imaging and analysis of graphite and gangue phases, graphite flake size analysis, interpretation, and discussion. Carheil is an exploration-stage project with historic graphite intersections as well as multi-metal potential,
lying about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt. Carheil sits less than 20 km west of the past-producing Selbaie Copper-Zinc-Silver-Gold mine (1.1 billion lbs Cu, 2.4 billion lbs Zn, 71 million oz Ag, 1 million oz Au produced from 1981-2004), less than 20 km north of
Hecla's Casa Berardi Mine (127.5 Koz Au and 28.2 Koz Ag produced in 2022), and less than 40 km southeast of Agnico Eagle's Detour Lake mine (713 Koz Au produced in 2021). Directly bordering the property to the north is Midland Exploration/Probe Metals' La Peltrie project, which recently intersected a 345.5 m of Cu-Mo-Au-Ag mineralization grading 0.21 CuEq. iMetal cautions investors that the presence of mineralization at Selbaie, Casa Berardi, and Detour Lake is not necessarily indicative of similar mineralization on the Carheil property. QA/QC control procedures for the spring 2023 drilling program included the systematic insertion of certified blanks, and two different graphite certified reference materials (CRM) at regular intervals (one QAQC sample for every 20 core samples) into the sampling stream. Geochemistry analyses consisted of Graphitic carbon by IR Spectroscopy (C-IR18), which uses an HCl leach to remove carbonates and roasting to remove organic carbon in order to only identify carbon in graphitic form in the samples. Select samples were checked for gold by fire assay and atomic absorption spectrometry (Au-AA26) with overlimit values subsequently analyzed using the gravimetric finish (Au-GRA22) technique. 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.