iMetal Resources Appoints Morgan Verge, P.Geo., to Lead Exploration
iMetal strengthens exploration leadership and secures $3 million alongside a new 19.9% shareholder at its Gowganda West-focused growth phase.
Rhea-AI Summary
iMetal Resources (IMRFF) appointed Professional Geoscientist Morgan Verge as Vice President, Exploration, effective immediately, to lead exploration strategy and execution, including at the flagship Gowganda West gold project in Ontario.
The appointment follows an August 18, 2026 non-brokered private placement of 30,000,000 units at $0.10 for gross proceeds of $3,000,000. McFarlane Lake Mining subscribed for 14,200,852 units, obtaining an approximate 19.9% interest, the right to nominate one director, and the opportunity to advise on Gowganda West exploration. In connection with her hiring, Verge received 100,000 stock options exercisable at $0.195 per share until September 17, 2031.
Recent drilling at Gowganda West’s West Zone returned 278.35 m at 0.424 g/t gold, including 62.25 m at 0.61 g/t and 16.65 m at 1.24 g/t, complementing a 2023 hole of 48.5 m at 0.85 g/t.
Positive
- $3,000,000 non-brokered private placement completed at $0.10 per unit on August 18, 2026
- McFarlane Lake Mining acquired 14,200,852 units for an approximate 19.9% stake plus board nomination right
- New VP Exploration granted 100,000 options at $0.195, expiring September 17, 2031
- Gowganda West hole IMGW-25-06 returned 278.35 m at 0.424 g/t Au
- Included intervals of 62.25 m at 0.61 g/t and 16.65 m at 1.24 g/t gold
- 2023 discovery hole at Gowganda West reported 48.5 m at 0.85 g/t Au
Negative
- Financing issued 30,000,000 new units at $0.10, increasing share count and diluting existing holders
AI-generated analysis. How Rhea-AI works. Not financial advice.
New technical leadership follows the Company's
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2026) - iMetal Resources Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") is pleased to announce that Morgan Verge, P.Geo., has been appointed Vice President, Exploration, effective immediately. She will lead the Company's exploration strategy and program execution, including advancement of its flagship Gowganda West gold project in Ontario.
"Ms. Verge's appointment adds proven technical leadership to iMetal at a pivotal stage in its development," said Saf Dhillon, President and CEO of iMetal. "Her more than 15 years of experience designing and executing exploration programs across Canada—from grassroots work through advanced-stage drilling in gold and critical minerals—will strengthen our ability to advance Gowganda West. Together with
Ms. Verge is a Professional Geoscientist with more than 15 years of experience in mineral exploration and mining across Canada, spanning grassroots exploration through advanced-stage projects in gold and critical minerals. She has planned and managed programs involving geological mapping and prospecting, geophysical surveys, drilling, geological modelling, target generation, and technical reporting. Her work has included technical and management roles with junior exploration and mining companies on projects in Ontario, Nova Scotia, British Columbia, and elsewhere in Canada.
Ms. Verge is the founder and President of Verge Geological Consulting Ltd. and also serves as President of the Nova Scotia Prospectors Association. She holds a B.Sc. in Earth Sciences from Carleton University and is registered as a Professional Geoscientist in Nova Scotia, Ontario, and British Columbia.
The appointment follows a series of measures to position iMetal for its next phase of growth. On August 18, 2026, the Company closed a non-brokered private placement of 30,000,000 units at
In connection with Ms. Verge's appointment, the Company granted her 100,000 incentive stock options (the "Options"). The Options vested immediately and are exercisable at
About iMetal Resources Inc.
iMetal is a Canadian junior exploration company focused on gold and critical mineral resource properties in Ontario and Quebec. Its flagship property, Gowganda West, is an exploration-stage gold project located near McFarlane Lake Mining Limited's Juby Project in the Shining Tree Camp area of the southern Abitibi Greenstone Gold Belt, about 100 km south-southeast of the Timmins Gold Camp. Drilling in the project's West Zone, announced in February 2026, returned 278.35 m at 0.424 g/t gold in hole IMGW-25-06, including 62.25 m at 0.61 g/t gold and 16.65 m at 1.24 g/t gold, complementing the 2023 discovery hole of 48.5 m at 0.85 g/t gold. Gowganda West is also contiguous with the Knight project, part of the strategic partnership between Orecap Invest Corp. and Agnico Eagle Mines Ltd. Carheil is an exploration-stage project with multi-metal potential and previous graphite results, located about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt. In August 2026, McFarlane Lake Mining Limited (CSE: MLM), iMetal's neighbour at Gowganda West and owner of the adjoining Juby Gold Project, completed a strategic investment that made it the Company's largest shareholder and directly endorsed the Gowganda West land package.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
President and 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. 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/314754
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