Scandium Canada Ltd. - IMPNF STOCK NEWS

MONTREAL, April 11, 2022 – Imperial Mining Group Ltd. (TSX VENTURE: IPG; OTCQB: IMPNF) has engaged Independent Trading Group (ITG) for market-making services, pending regulatory approval. ITG aims to enhance liquidity in trading Imperial's shares on various exchanges. The agreement, starting with a three-month term, includes monthly compensation of CAD$6,500. ITG operates independently and has no vested interest in Imperial's securities. Imperial Mining is focused on advancing technology metals projects in Québec, underpinned by a team with a solid track record in mineral exploration.

MONTREAL, March 22, 2022 -- Imperial Mining Group Ltd. (TSX VENTURE: IPG) held its 2022 Annual and Special Meeting of Shareholders where several directors were elected, including Steven Brunelle and Peter J. Cashin. Shareholders approved the appointment of Raymond Chabot Grant Thornton as auditors, the renewal of a 10% rolling stock option plan, and a new 10% rolling restricted share unit plan, subject to TSXV approval. The total common shares issuable under these plans will not exceed 10% of the outstanding shares at the time of grant.

Imperial Mining Group Ltd. (IMPNF) updates investors on the Crater Lake project, announcing delays in the 43-101 Preliminary Economic Assessment due to necessary tradeoff studies. The project is focused on the TG Zone scandium-rare earth resource, with potential further drilling to enhance resource estimates. The company has secured $3 million in government funding for R&D in scandium-aluminum alloys for sectors like automotive and aerospace. Additionally, a diamond drilling program is set for June 2022, aimed at improving resource categorization, while optimizations in metallurgical processes are underway.

Imperial Mining Group Ltd. has secured a grant of $245,355 from the Quebec Ministry of Energy and Natural Resources for optimization work on its metallurgical process aimed at advancing scandium-rare earth mineralization at Crater Lake. The funding is part of a four-year, $4.25-million initiative to boost critical and strategic minerals projects in Quebec. Additionally, Martin Nicoletti has resigned as CFO, with Patrick Masumpa appointed as his replacement. The optimization study will be conducted by SGS Canada and is expected to be completed by Q3 2022.

Imperial Mining Group Ltd. (IMPNF) has successfully closed a non-brokered private placement, raising $3,000,000.34 by issuing 14,634,148 flow-through shares at $0.205 each, representing a 46.4% premium over the current share price.

The funds will be utilized for exploration drilling at the Crater Lake project, resource categorization, and optimizing metallurgical recovery processes. The offering is subject to final approval from the TSX Venture Exchange.

Imperial Mining Group Ltd. (IMPNF) has partnered with Investment Quebec and IDM to conduct a comprehensive market study on scandium. The study aims to assess the establishment of a North American supply chain for scandium and its aluminum alloys, evaluating economic and technological impacts on the Baie-Comeau region and Quebec's aluminum industry. The initiative is backed by a $100,700 grant, contributing to the Preliminary Economic Assessment (PEA) for the Crater Lake operation, highlighting significant growth potential for scandium alloy products.

Imperial Mining Group Ltd. (IMPNF) reported promising assay results from its recent exploration at the Crater Lake Project's STG Zone, highlighting a significant intercept of 115.8 m grading 252 g/t Sc₂O₃, including 28.1 m at 265 g/t Sc₂O₃. High levels of TREO+Y were observed up to 0.475%. The summer drilling program, totaling 345.1 m, aims to expand known mineralization. Although previous surface channel sampling indicated strong mineralization, the second hole encountered non-mineralized rock, prompting further investigations.

Imperial Mining Group Ltd. (OTCQB: IMPNF) has announced the nomination of Nick Nikolakakis to its Board of Directors. With over 26 years of experience in the mining sector, he has raised over $2 billion in capital and served in senior roles at various notable mining companies. Nikolakakis aims to support the development of Imperial's Crater Lake scandium project, targeting production of materials that reduce carbon emissions. The company also granted him 300,000 stock options at $0.13 per share, pending TSX approval.

Imperial Mining Group has announced a significant resource estimate for its TG Scandium Zone, revealing Indicated Resources of 7.3 million tonnes grading 282 g/t Sc₂O₃ and Inferred Resources of 13.2 million tonnes grading 262 g/t Sc₂O₃. The value of the mineralization is estimated between $CAN386-413/t based on a Net Smelter Return (NSR) cut-off of $CAN110.80/t. The Company is moving forward with a Preliminary Economic Assessment (PEA) to evaluate the project's economic feasibility, aiming for production of 50 to 100 tonnes of high-purity scandium oxide annually.