iMetal Resources Announces Flow-Through Financing

Rhea-AI Summary

iMetal Resources (OTCQB: IMRFF, TSXV: IMR) announced a non-brokered flow-through financing to issue up to 4,000,000 FT Units at $0.13 per unit for gross proceeds of up to $520,000. Each FT Unit comprises one flow-through common share and one-half warrant; each whole warrant will allow purchase of one common share at $0.20 for 24 months. The company expects to use net proceeds to fund exploration at the Gowganda West Property in the Shining Tree Camp, Abitibi Greenstone Gold Belt, Ontario.

The offering may include finders' fees, securities will be subject to a four-month-and-one-day resale restriction, and closing is subject to regulatory approval. Technical content was reviewed by a Qualified Person, R. Tim Henneberry, P.Geo.

Positive

• Up to $520,000 gross proceeds from flow-through financing
• Proceeds earmarked for Gowganda West exploration in Ontario
• Flow-through structure may deliver tax benefits to Canadian investors

Negative

• Potential dilution from up to 4,000,000 shares plus warrants
• Warrants exercisable at $0.20 for 24 months, adding future share issuance
• Closing subject to regulatory approval, not yet completed

Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - iMetal Resources Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company) announces that it will offer (the "Offering") up to 4,000,000 flow-through units (each, an "FT Unit"), at a price of $0.13 per FT Unit, for gross proceeds of up to $520,000, by way of non-brokered private placement. Each FT Unit will consist of one common share of the Company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half-of-one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.20 for a period of twenty-four months.

The Company anticipates the net proceeds raised from the Offering will be used to conduct exploration of the Company's Gowganda West Property, located in the Shining Tree Camp of the Abitibi Greenstone Gold Belt within Ontario.

The Company may pay finders' fees to eligible parties who have assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. Completion of the Offering remains subject to receipt of regulatory approval.

Qualified Person

The technical content of the New Release has been reviewed and approved by R.Tim Henneberry, P.Geo. (BC), a director of the Company and a Qualified Person under National Instrument 43-101.

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 kilometres W 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 intended use of proceeds from the Offering. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277315

FAQ

What is the size and price of iMetal Resources' (IMRFF) flow-through financing announced December 8, 2025?

The company offered up to 4,000,000 FT Units at $0.13 per unit for gross proceeds up to $520,000.

How are the FT Units structured in iMetal Resources' (IMRFF) December 8, 2025 offering?

Each FT Unit includes one flow-through common share and one-half warrant; each whole warrant buys one share at $0.20 for 24 months.

What will iMetal Resources (IMRFF) use the financing proceeds for?

Net proceeds are intended to fund exploration of the Gowganda West Property in the Shining Tree Camp, Ontario.

Will iMetal Resources (IMRFF) pay finders' fees or have resale restrictions for the December 8, 2025 offering?

The company may pay finders' fees to eligible parties and securities will have a four-month-and-one-day resale restriction.

Is closing of iMetal Resources' (IMRFF) flow-through financing final?

No, completion of the offering is subject to receipt of regulatory approval.