iMetal Provides Update on Summer Exploration Activities

iMetal Resources Inc. (TSXV:IMR) (OTCBB: ADTFF) (FRANKFURT: A7V2) (“iMetal” or the “Company”) is pleased to provide an update on exploration activities conducted this summer.

The Company recently identified additional key areas of interest at its Gowganda West project and conducted a sampling program. The primary focus which garnered attention from the technical team was an area evaluated previously by R. MacCallum circa 2011 on Gowganda West (https://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/20000007029/20010086.pdf).

The MacCallum stripping and sampling returned 18.71 g/t gold within:

• 2,000 m NNW of the Juby Main Zone.
• 500m NEE of Juby B Zone Extension (0.89 g/t Au over 29.85m incl. 5.85 g/t Au over 1.1m).
• 500m NE of Juby B Zone (2.33g/t Au over 5.33m, 33.74 g/t Au over 0.97m and 1.22 g/t Au over 10.66m).
• 1,000m NNE of No. 13 Zone (234 g/t Au over 1.5m).
• 200 meters from iMetal’s common boundary with Caldas Gold Corp (“Caldas”-TSX: CGC) within the Tyrell Structural Zone.

Mineralization is associated with a sheared ultramafic intrusive in contact with Archean meta sediments and a strongly bleached and silicified quartz porphyry with significant ankerite alteration and disseminated pyrite.

The secondary focus this summer, was the extensive common eastern border with Caldas and south of the Juby Main Deposit. Since discovery, significant exploration work has been performed and a large volume of data reviewed.  This historic assessment work at Juby was re-evaluated and areas of anomalous gold in soil and rock in conjunction with chargeability trends and geophysical anomalies from last year’s VTEM and IP reports (see press releases, May 16th, 2019 and October 4th, 2019) were targeted for additional geological evaluation.

Several areas of interest have been generated with samples submitted to the lab and assays are pending.

A map showing iMetal’s exploration work this summer can be found at;

https://imetalresources.ca/summer-2020-exploration-target-areas/

Johan Grandin, CEO of iMetal commented, “We are very excited about this year’s ongoing exploration program as we are working to identify which areas should be prioritized. The appointment of Mr. Dhillon as President and the recently announced financing will enable iMetal to complete additional exploration work such as ground geophysics, VTEM in key unexplored areas along with drilling of multiple high priority targets. There are over a dozen priority drill targets at Gowganda West, which have been identified by Abitibi Geophysics Inc., (“Abitibi”) using their proprietary OreVision® IP technology, see press release October 4th, 2019.  We are also very excited regarding the new developments at Ghost Mountain, where Kirkland Lake Gold and Newmont just announced a US$75 million exploration program, with the focus being the Holt Complex, see press release, Kirkland Lake Gold (TSX: KL), August 17th 2020”.

Saf Dhillon, President of iMetal commented, “I am encouraged by the previous exploration work at Gowganda West and looking forward to working with Johan to further develop this project.  I am also impressed with the quality of potential at iMetal’s second 100% owned project, the Ghost Mountain property, and can’t wait for further analysis of it.” Ghost Mountain is contiguous on 3 sides by Kirkland Lake Gold (TSX: KL) and lies on the Destor-Porcupine Fault system. The property, consists of seven claim units (eleven square kilometers) of land and straddles the gold-prolific Destor-Porcupine Structure in Kirkland Lake, Ontario”.

About iMetal Resources Inc.

A Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. iMetal is focused on advancing its 100% owned Gowganda West Project that borders the Juby Project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp.

The Company is also advancing its 100% acquired Ghost Mountain property that consists of seven claim units (eleven square kilometers) of land, straddling the gold-prolific Destor-Porcupine Structure in Kirkland Lake, Ontario. This property is located a couple kilometres west of Kirkland Lake Gold’s, Holt and Holloway Mine and the Destor-Porcupine gold camp has historically produced over 70 million ounces of gold.

Wade Kornik, P.Geo., has approved the technical information contained in this release.  Mr. Kornik is a consulting geologist and is a Qualified Person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

Johan Grandin

Chief Executive Officer

iMetal Resources Inc.

jgrandin@imetalresources.ca

Tel. (604-739-9713)

588-580 Hornby St., Vancouver, BC, V6C 3B6.

https://imetalresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions.  There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.  We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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