Imperial Metals Corporation reported the highlights of the Red Chris Block Cave Pre-Feasibility Study (PFS) which confirms the potential to develop a world class, low cost, long life mine. Some key results from the PFS are: Production projected to average 80,000 tonnes of copper and 316,000 ounces of gold per annum for 6 years starting July 2028. Impressive Block Cave Life-of-Mine All-In Sustaining Cost of negative $144 per ounce of gold. Initial Mineral Reserve estimate of 8.1 million ounces gold and 2.2 million tonnes copper. Payback of 3.2 years. Block Cave First Ore first half of 2026. Further optimization underway to assess opportunities proximate to the mining area, incl. East Ridge. Studies are underway to consider “early mining” of high-grade pods to enhance cashflows prior to development of a block cave. With the completion of the PFS, Newcrest has approved preparation of a Feasibility Study which is expected to be completed in the first half 2023. Newcrest intends to release a National Instrument 43-101 (NI 43-101) technical report on Red Chris within 45 days of this release. Mineral Reserve Classification. The Probable Mineral Reserve is based on Indicated Mineral Resources and diluting material. Diluting material is either low grade Indicated Mineral Resource or material carrying no grade. No Measured Mineral Resources are stated for this deposit. The resource classification is based on an assessment of geological confidence as a function of geological and mineralisation continuity. Mining Method: Various mining methods have been considered for the extraction of the East Zone resources. Based on the depth, size, grade and existing site production rate block caving has been deemed the most appropriate mining method by the PFS and supported via independent reviews. On-going data collection and geotechnical and mining studies will provide ongoing design parameters for the Project.