Imperial Mining Group Ltd. Noted in Scandium Industry Report
MONTREAL, Oct. 23, 2023 - Imperial Mining Group Ltd. ("Imperial" or the "Company") (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to report it has been spotlighted in a recently published scandium industry report by eResearch in a document titled "Scandium - A Metal for a Green Future; Your Guide to Understanding and Investing in Scandium Companies."-click here for the report. The document reviews scandium uses, current supply and demand, and presents an overview of 15 other companies engaged in the scandium industry. President and CEO Pierre Neatby, "Imperial supported this project financially because we see a necessity to advance all scandium mining and alloying projects to support the global growth of the scandium industry. Scandium users demand steady and reliable scandium supplies from multiple sources, and the industry must work together to deliver."
eResearch reports the global scandium supply as follows:
- The current scandium market indicates that demand is being met by supply, with approximately 20 to 30 tonnes in demand for 2022.
- However, if 0.1% of the annual global aluminum production was alloyed with 0.5% scandium, it would result in an annual global scandium demand of 345 tonnes, which is 11x the current demand.
- Current demand forecasts from the Aerospace, Automotive, Defence, SOFC, and Wind Turbine industries could reach almost 500 tonnes by 2030.
Imperial's NI43-101 PEA reported in June 2022 shows Imperial's annual production at just over 80 tonnes per year of scandium oxide-click here for press release.
Imperial Files 43-101 Technical report on SEDAR
The Company reports that it has filed the 43-101 Technical report reported in its press release of September 14, 2023, on SEDAR.
ABOUT IMPERIAL MINING GROUP LTD.
Imperial is a Canadian mineral exploration and development company focused on advancing 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 development professionals.
For further information please contact:
| Imperial Mining Group Ltd. Pierre Neatby President and Chief Executive Officer Phone: +1 (514) 360-0571 Email: info@imperialmgp.com |
Website: www.imperialmgp.com Twitter: @imperial_mining Facebook: Imperial Mining Group
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.
