Imperial Mining Strikes Collaborative Agreement with Développement Economique Sept-îles in Support of the Crater Lake Processing Complex

MONTREAL, Dec. 29, 2022 - Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it has entered into a Collaboration Agreement with Développement Economique Sept-îles Inc (DESI) to assist with local stakeholders in the Sept Iles area of the Province of Quebec in support of the establishment of Imperial's scandium, rare earths and scandium-aluminum master alloys facility to be sited within the boundaries of the City of Sept-Iles and to be operated by Imperial using feedstock from its planned mining operations at Crater Lake "The Project".

Imperial's President & CEO, Mr. Peter Cashin, "DESI is proving to be an exceptional facilitator with local stakeholders. We are looking forward to a long and productive relationship."

DESI's CEO, Mr. Paul Lavoie, "We are excited to assist Imperial with this project, which fits well within the long-term vision of the region to shift from primary transformation toward value-added opportunities in Critical Minerals. Imperial's project offers an excellent opportunity to integrate the region's mineral logistics and aluminum's smelting expertise."

Under the Agreement, DESI will:

• Integrate and prioritize the Imperial Project in the region and within the industrial park and port with local community.
• Coordinate between Imperial and the City of Sept-Iles and Quebec government.
• Communicate and favor of the integration of project in the Plan Nord and integration of logistical partners necessary for the Project.
• Ensure the integration of the Project within the industrial park strategy and industrial development and planning of the region and territory.
• Support the efforts of Imperial in accessing the different resources and government support of the region.
• Coordinate the Land identification and encourage local businesses with synergistic or supporting initiatives.
• Support the efforts of Imperial to obtain social acceptability and in negotiating a favorable relationship with the Innus of Uashat Mak Mani-Utenam and/or Matimekush - Lac John, the First Nation, as well as the Naskapi Nation and Nunavik peoples, entities that may possess the ancestral titles to the lands proposed for the different operations of Imperial in the region.
• Support Imperial mainly by suggesting strategic and operational directions to obtain social acceptability and environmental licence to operate.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as "IPG" and on the OTCQB Exchange as "IMPNF" and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.

DÉVELOPPEMENT ECONOMIQUE SEPT-ÎLES INC (DESI)

The mission of "Développement Économique Sept-Îles" is the promotion with investors of the attractions and advantages of the municipality to favour the economic development and to improve the quality of life of Sept-Iles`s citizens. Partnership is the essence of the actions of the managers of DESI as much for the great projects as for those coming from small and medium size business. Thus, the organisation becomes a kick-starter for diversified investments. The organisation's philosophy is guided by job creation, innovation and economic diversification.

For further information please contact:

This press release may contain forward-looking statements relating to the Company's operations or to its business environment. Such statements are based on the Company's operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise. Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.

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.