VANCOUVER - iMetal Resources, Inc. (TSX.V: IMR) (OTCBB: ADTFF) (FRANKFURT: A7V2) ('iMetal' or the 'Company') is pleased to report the completion of the line cutting component of the 2021 IP program at the Oakes Gold Project in the Geraldton-Beardmore Greenstone Belt (GBGB) of Northern Ontario.

A total of 12.8-line kilometres were cut to expand the IP grid to the east and to the west in preparation for a late summer drill program at Oakes. Canadian Exploration Services Inc. of Kirkland Lake has been contracted to complete 12-line km's and expand the historic IP grid from 1000 metres to 2300 metres in length. The IP geophysical program is expected to commence in early July.

The Oakes Project, an orogenic, shear hosted gold project, is an integral part of the GBGB property package which the Company proposes to acquire from Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF). Oakes is 5,544 hectares and hosts several gold bearing shear zones. Historic channel sampling (2019) of the HG shear zone at Oakes returned values of 31.9 g/t gold, 19.7 g/t gold and 6.9 g/t gold over 0.5 to 1.0 m intervals.

'The acquisition of the Oakes project would provide iMetal with a key position in a second significant greenstone belt that is fast becoming a gold district, highlighted by the recent takeover of Premier Gold Mines Limited by Equinox Gold Corp.,' commented iMetal President & CEO Saf Dhillon. 'The IP program is expected to confirm and delineate the shear zones further along strike, providing additional drill targets,' he continued. 'The Abitibi and Wabigoon greenstone belts are well known for their past gold production and high grades, and we are confident that more discoveries are to be made by companies willing to engage in these early-stage exploration projects'.

The Oakes Gold Project is currently controlled by Riverside Resources Inc., and exploration work conducted on the Project is overseen by Riverside. As previously disclosed, the Company proposes to acquire the Oakes Project as part of a larger package of properties located in Northern Ontario. Completion of the acquisition remains subject to the approval of the TSX Venture Exchange, available financing and the satisfaction of customary closing conditions. Readers are cautioned that there is no guarantee that the outstanding conditions will be satisfied and that the Company will acquire an interest in the Oakes Project.

About Oakes

The Oakes Project is located in Long Lac, Ontario east of Equinox Gold Corp.'s (TSX: EQX) Hardrock deposit. At Oakes, early exploration by Hardrock Mining and Noranda Exploration focused on base metals. Exploration for gold began in the 1990s with a successful 2-hole drill program. Recent soil geochemistry, VLF and IP geophysics programs defined three, east-west oriented mineralized shear zones. Trenching and sampling along the HG Shear Zone returned high-grade gold values of 19.7 g/t, 31.9 g/t and 6.9 g/t gold over 0.5-1.0 m channel samples perpendicular to strike, while sampling along the strike extension returned grab gold values of 46 g/t and 7 g/t, demonstrating a strike length of at least 600 metres.

About Gowganda West

The Gowganda West property covers approximately 147 sq km in the Shining Tree volcano-sedimentary succession of the southwestern Abitibi Greenstone Gold Belt contiguous to the north and west of Aris Gold Corp.'s (TSX: ARIS) (formerly Caldas Gold Corp.) Juby Gold deposit, a series of four mineralized alteration zones along the Tyrrell Shear Zone. Gold mineralization at Juby is associated with narrow quartz-carbonate-pyrite veins hosted within 20- to 330-metre-wide zones of ankerite-albite-silica-sericite alteration and variable amounts of fine-grained, disseminated pyrite and also with multiple lenses containing narrow (

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