iMetal Resources Inc. received results from a recent Airborne Magnetic survey at the Company's Pigeon Lake block, lying to the northwest of the Gowganda West project, which is located within the prolific Abitibi Greenstone Gold Belt. The aeromag results outlined the magnetic structure of the area and provided the company with important information regarding geological areas requiring further examination, including a large alteration zone. Waring Minerals Inc. completed the drone magnetics survey and GeoFizX Geophysical Consulting completed the interpretation.

The survey was completed in two days and a total of 42.326 line-kms. Nominal spacing was 45 m over the survey area. Results were deemed of high quality and greatly improved resolution over previous government surveys of the area. Products included the high-resolution magnetics map with numerous advanced processing variations, a 3D inversion for drill targeting, and a new geology interpretation to base further exploration on.

Gowganda Westis an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario; contiguous to Aris Mining's Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold belt; and also contiguous to the Knight project that is part of the Strategic Partnership between Orecap Invest Corp. and Agnico Eagle Mines Ltd. iMetal recently completed a 2,611 m drilling program in the fall of 2022 which intersected a new gold trend and resulted in the company announcing it's first 'Discovery Hole'. The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.

iMetal cautions that grab samples are select samples and not necessarily indicative of similar mineralization on the Property. 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.