Imperial Metals Corporation

Imperial Metals Corporation

March 13, 2008 14:25 ET

Imperial Reports Extension of 144 Zone at its Sterling Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2008) - Imperial Metals Corporation (TSX:III) reports underground drilling at Sterling has confirmed the presence of significant gold mineralization east of the latite dike that previously defined the eastern boundary of the 144 Zone. Hole SU08-16, drilled east of the dike to the north of the decline, returned 0.30 ounces per ton (10.28 g/t) gold over 15 feet, with the entire hole returning 0.13 ounces per ton (4.46 g/t) gold over 79.5 feet. Hole SU08-15, drilled from the same location with a steeper dip, returned 0.15 ounces per ton (5.28 g/t) gold over 38.7 feet. The entire 264 foot length of SU08-15 was in breccia grading 0.07 ounces per ton (2.40 g/t) gold. Hole SU08-12, drilled from the same location but to the south of the decline, returned 0.17 ounces per ton (5.83 g/t) gold over 11.2 feet, within a longer interval returning 0.10 ounces per ton (3.43 g/t) gold over 56.2 feet.

Previously released rib samples from the decline averaged 0.039 ounces per ton (1.33 g/t) over 150 feet as it passed through the breccia east of the dike. The latest drill results expand the zone of significant gold mineralization east of the latite dike to over 350 feet in a north-south direction.

Diamond drill hole SU08-11 was drilled within the 144 Zone west of the dike that had been previously outlined by surface drilling. This hole targeted the core of the mineralization system and returned 0.54 ounces per ton (18.51 g/t) gold over 7.5 feet, within a 153.5 foot mineralized interval grading 0.14 ounces per ton (4.80 g/t) gold. To date assay results have been received from 15 of 26 holes drilled in the 144 Zone. Fourteen of the fifteen holes for which assays have been received, intersected gold mineralization grading higher than the 0.1 ounce per ton cut-off grade used in the previous mining operations (1980-2000) at Sterling.

The table below highlights selected drill results. A drill plan and assay table are available on the Company's website.

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Total Interval Interval Interval
144 Zone Length from to Length Gold Gold
Drill Hole (ft) (ft) (ft) (ft) oz/ton g/t

SU08-1 191.0 90.0 191.0 101.0 0.050 1.71
including 110.0 120.0 10.0 0.260 8.90
SU08-7 358.0 87.0 210.9 123.9 0.040 1.37
including 142.5 173.0 30.5 0.120 4.11
SU08-8 229.0 98.5 229.0 130.5 0.060 2.06
including 113.0 176.0 63.0 0.110 3.77
SU08-11 277.5 124 277.5 153.5 0.140 4.80
including 203.5 211.0 7.5 0.540 18.51
SU08-12 109.0 0 88.5 88.5 0.070 2.40
including 67.3 78.5 11.2 0.170 5.83
including 27.3 83.5 56.2 0.100 3.43
SU08-15 264.0 0 264.0 264.0 0.070 2.40
including 10.0 48.7 38.7 0.154 5.28
SU08-16 79.5 0 79.5 79.5 0.130 4.46
including 10 25 15 0.300 10.28
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Patrick McAndless, P.Geo. is the Qualified Person as defined by National Instrument 43-101 for the exploration program. The current samples were analyzed at the Florin Analytical Services LLC laboratory in Reno, Nevada. The breccia related deposits in the 144 Zone are irregular in shape and true thicknesses have not been estimated.

In addition to the underground drilling, a surface drill program was conducted as a first phase follow up to the program of surface mapping and sampling conducted over the past two years. A total of four holes, one at the Mary claim area and three holes at Flourspar Canyon claim area were drilled for a total of 5,165 feet. Results have been received for three of the four holes, in which anomalous gold values were intersected with the highest value being 0.03 ounces per ton (0.94 g/t) over 10 feet.

The wholly owned Sterling property is located near the town of Beatty, Nevada, about 115 miles northwest of Las Vegas. The Sterling, Tungsten Canyon, Fluorspar Canyon and Mary land claims comprise 711 lode mining claims covering 14,070 acres.

Sterling operated both as an underground and open pit mine commencing in 1980 until closure in 2000. During this period the mine produced 194,996 troy ounces from 941,341 short tons of ore with an average grade of 0.217 ounces per ton (7.44 g/t) gold.

Imperial is a mine development and operating company based in Vancouver, British Columbia. The Company's key properties are the Mount Polley open pit copper/gold producing mine in central British Columbia, the Huckleberry open pit copper/molybdenum producing mine in northern British Columbia, the development stage Red Chris property in northwest British Columbia, and the Sterling gold mine in southwest Nevada.

Contact Information

  • Imperial Metals Corporation
    Brian Kynoch
    (604) 669-8959
    (604) 687-4030 (FAX)
    Imperial Metals Corporation
    Patrick McAndless
    Vice President Exploration
    (604) 488-2665
    Imperial Metals Corporation
    Sabine Goetz
    Investor Relations
    (604) 488-2657