Imperial Mining Grants Options to New President and CEO

MONTRÉAL, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. (“Imperialˮ or the “Corporation”) (TSX VENTURE: IPG) announces that it has granted today an aggregate of 1,500,000 incentive stock options (the “Options”) to Mr. Pierre Neatby, President and Chief Executive Officer of the Corporation in accordance with the Corporation’s stock option plan. The appointment of Mr. Neatby was previously announced in Imperial’s news release on August 9, 2023. The Options are exercisable at a price of $0.10 per share for a period of five years from the date of grant. The Options shall vest according to the following vesting schedule: 25% shall vest immediately upon issue; 25% shall vest upon the date that is 6 months from the date of issue; 25% shall vest upon the date that is 12 months from the date of issue; and the remaining 25% shall vest upon the date that is 18 months from the date of issue.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.

For further information please contact:

Pierre NeatbyPresident & CEOImperial Mining Group Ltd[email protected]

Neither 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.

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