VANCOUVER, BC / ACCESSWIRE / 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.
[email protected]
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.