VANCOUVER - iMetal Resources, Inc. (TSX.V: IMR) (OTC PINK: ADTFF) (FRANKFURT: A7V2) ('iMetal' or the 'Company') is pleased to release assay results from the late April 2021 field program at its flagship Gowganda West property in the Shining Tree District part of the Abitibi Greenstone Gold Belt of Northern Ontario.

The 2021 results confirm the earlier sampling and have defined the target areas for the upcoming trenching and drilling programs,' commented iMetal CEO, Saf Dhillon. 'The recent gold samples collected well to the west of the known mineralization at Zone 1 argues for additional structures at Gowganda, fitting in with our theory of a significant mineralized system at Gowganda,' he continued. 'We expect to commence the fully permitted trenching program forthwith, in preparation for a follow-up drilling program,' he concluded.

Zone 1 is associated with Timiskaming type metasedimentary rocks comprising siltstone, sandstone and predominately conglomerate. Gold mineralization is found where conglomerate transitions into finer grained rock types. The conglomerate contains clasts of jasper rich, banded iron formation and is highly magnetic. In additional, the conglomerate contains significant amounts of pyrite, resulting in the unit showing as strongly conductive in induced polarization surveys. The 2018 airborne mag and 2019 IP surveys have allowed mapping of the conglomerate and its boundaries.

Zone 1 mineralization seems to occur within northward trending structures at or near geological boundaries with conglomerate and finer grained sediments. Exposures in cleared areas from historical work shows potassic alteration and silica flooding over significant widths. Recent sampling in Zone 1 has confirmed previous sampling and shows a north-south trend to gold mineralization. Faulting in this area also trends north south and has served as corridors for late diabase dikes that have intruded into the existing weaker bedrock. Gold mineralization is associated with narrow, quartz-carbonate-pyrite veins hosted within wider zones of ankerite-albite-silica-sericite alteration and variable amounts of fine-grained, disseminated pyrite. Gold appears to be associated with pyrite, the higher the pyrite content generally the higher the gold content.

Zone 3 similarly is hosted in metasedimentary rocks, however, the mineralization is oriented northeast-southwest and dips westward. Fifteen samples were taken from this area in April eight of which returned gold values over 1 g/t gold with a highlight value of 67 g/t gold. The highest-grade samples were found in larger areas of silica flooding associated with narrow units of felsic intrusive rock. Past sampling in this area also returned high grade gold. The Zone 3 exposure is found in a recently logged area and does not appear to have seen any past exploration.

A total of 121 samples were taken during the April program with 26 returning values in excess of 0.1 g/t gold. Twelve of the 26 returned values in excess of 1 g/t gold, of which 5 were in excess of 10 g/t gold.

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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