Imperial Mining Group Ltd. announced that it has received the results of the updated NI 43-101 mineral resource estimate for the TG Scandium-Rare Earth Zone. The work was completed by InnovExplo Inc. of Val d?Or, Quebec. The effective date of the mineral resource estimate is August 3, 2023.

Highlights: Imperial?s independent qualified persons report updated Indicated Resources of 11.8 million tonnes grading 275.9 g/t Sc2O3 and Inferred Resources of 15.9 million tonnes grading 268.4 g/t Sc2O3 for the Northern Lobe of the TG Scandium Zone; The updated Mineral Resource Estimate represents a 58% increase in total scandium tonnage for the Indicated Resources category and a 22% increase in total scandium tonnage for the Inferred Resources category; Determinations of magnet rare earth oxides (Nd, Pr, Dy, Tb) were made for both resource categories; Using a Net Smelter Return (NSR) cut-off value of CAD 110.11/t for potential open pit extraction method, the value of the mineralization was determined to range between CAD 414-426/t; Mineralization remains open laterally and at depth, demonstrating the potential to increase the mineral resource with additional drilling. DESCRIPTION OF THE TG ZONE: The mineral resource estimate underwent a revision, incorporating data from the most recent drilling program conducted in 2022. This program consisted of seven drillholes with a cumulative depth of 1,588 meters and was conducted within the Northern Lobe of the TG Scandium-Rare-Earth mineralized Zone.

Notably, company's resource estimation efforts have been concentrated exclusively on the Northern Lobe of the TG Zone, which constitutes approximately half of the magnetic anomaly depicted in Figure 1. Although drilling activity in the Southern Lobe has been relatively limited, the available data from these operations has yielded intercepts that are consistent with those observed in the Northern Lobe. The TG Zone mineralization is characterized by the strong continuity of the iron-rich syenitic intrusive (Ferrosyenite) sill and dyke system and was drilled over a strike length of 300 m, to a vertical depth of 200 m. Intersection lengths through the zone varied between 10 m and 145 m, representing a true thickness of up to 100 m. There was an observed general increase in resource grade and true thickness to mineralization at depth below the pit-shell and towards the north. In addition, numerous Scandium-Rare-Earth resource opportunities remain to be drill-defined on the property and will be evaluated in future exploration programs.