IMetal Resources Announces Non-Brokered Private Placement Offering for Gross Proceeds of up to $1,500,000

VANCOUVER, November 4, 2024 - iMetal Resources Inc. (TSX.V:IMR)(OTCQB:IMRFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce a non-brokered private placement of units (each, a "Unit") to raise gross proceeds of up to $1,500,000 through the sale of 10,000,000 Units at the price of $0.15 per Unit (the "Offering") Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one transferable share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Share of the Company at a price of $0.20 for a period of two years from the date of closing of the Offering.

The Company intends to use the net proceeds of the Offering towards further exploration and drilling at the Company's properties as well as for general working capital.

All securities issued under the Offering will be subject to a hold period which will expire on the date that is four months and one day from the date of issue. Finder's fees may be paid on the Offering pursuant to the policies of the TSX Venture Exchange (the "TSXV").

The issuance of the securities, and the payment of any finder's fees are subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV.

About iMetal Resources Inc.

iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The flagship property Gowganda West, is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometresW of Agnico Eagle's Holt and Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

iMetal Resources Inc.
saf@imetalresources.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
https://imetalresources.ca

Neither the 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 release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of iMetal to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the use of proceeds with respect to the Offering, further exploration and drilling at Gowganda West and the Company's ability to gain approval from the TSX Venture Exchange. These forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

SOURCE: iMetal Resources, Inc.