Imperial Metals Corporation

Imperial Metals Corporation

January 18, 2007 18:47 ET

Imperial Reviewing Increased Offer for bcMetals

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Imperial Metals Corporation (TSX:III) today announced it is reviewing its options in light of the revised bid for bcMetals Corporation ("bcMetals") by Taseko Mines Limited ("Taseko") which now expires midnight, January 29, 2007. Imperial will determine whether its wholly owned subsidiary, CAT-Gold Corporation ("CAT-Gold"), will increase its all-cash offer to acquire the outstanding common shares of bcMetals prior to expiry of the Taseko bid.

Imperial and its affiliates currently hold approximately 22% (9,299,894 shares) of the issued and outstanding common shares of bcMetals, on a fully diluted basis (but assuming cancellation of all out-of-the-money securities of bcMetals), compared to Taseko's approximately 5% holding (1,918,600 shares), on a similar fully diluted basis. Accordingly, less shares are required to be tendered into CAT-Gold's bid than are required to be tendered into Taseko's bid for the minimum tendering condition to be met.

Investors and security holders of bcMetals are urged to read the formal offer and takeover bid circular of CAT-Gold Corporation dated January 3, 2007, and any amendments thereto when they become available, as they contain important information. A copy of the formal offer and takeover bid circular will be available on Imperial's website, the SEDAR website, or by direct request to Imperial.

Contact Information