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Press release from Marketwire

Imperial Reports Mount Polley Drilling Continues to Extend Gold Rich WX Zone

Thursday, October 07, 2010

Imperial Reports Mount Polley Drilling Continues to Extend Gold Rich WX Zone16:05 EDT Thursday, October 07, 2010VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2010) - Imperial Metals Corporation (TSX:III) reports additional significant intervals of high gold to copper ratio mineralization at the WX zone, located south of the Springer pit at the Mount Polley mine. Hole WX10-27 drilled to the east at a dip of -60 degrees returned 130.0 metres grading 0.45% copper and 1.21 g/t gold starting at 165.0 metres depth. This interval starts below a 75.0 metre interval grading 0.12% copper and 0.46 g/t gold starting at 50.0 metres depth. WX10-27 was collared 70 metres south of the rim of the current Springer pit design. WX mineralization continues to depth as demonstrated in drill holes WX10-22 and WX10-23, each of which intersected mineralized intervals over 150 metres starting at depths of over 300 metres down hole. These holes were collared approximately 300 metres east/southeast of WX10-27 and drilled to the west at a dip of -60 degrees . Also significant is the near surface mineralization intersected in drill holes WX10-11 and WX10-18. Hole WX10-11 intersected a 67.9 metre interval starting at 17.1 metres grading 0.56% copper and 0.59 g/t gold, and WX10-18 intersected 40.5 metres of mineralization starting at 25.0 metres grading 0.70% copper and 0.50 g/t gold. Significant intervals from WX drilling: --------------------------------------------------------------------------- Interval WX Drill Total Length Hole # Length (m) From (m) To (m) (m) Copper % Gold g/t WX10-11 721.5 17.1 85.0 67.9 0.56 0.59 WX10-18 523.3 25.0 65.5 40.5 0.70 0.50 WX10-22 672.7 350.0 507.5 157.5 0.35 0.50 WX10-23 569.1 340.0 492.5 152.5 0.52 0.82 including 407.5 492.5 85.0 0.64 1.02 WX10-27 620.9 50.0 125.0 75.0 0.12 0.46 and 165.0 295.0 130.0 0.45 1.21 --------------------------------------------------------------------------- The mineralization discovered in the WX zone to date has high gold to copper ratio and a low oxide copper ratio, less than 4% in the current drilling, which should enable the Mount Polley flotation concentrator to achieve good copper recoveries. With an average gold to copper ratio of 2.01 (Au g/t : Cu %) the 2010 drilling at the WX zone has one of the highest gold to copper ratios at Mount Polley. Other zones have ratios ranging from 0.53 to 2.11. The mineralization drilled at WX zone now extends over 270 metres to the south from the southern rim of the planned Springer pit and has been defined to depths up to 580 metres. Drilling at WX has totalled 13,260 metres in 27 holes and is still underway at the time of this release.At the Springer zone drilling was conducted at depth below the currently planned pit development. Drill holes SD10-99 through SD10-102 were all low angle, drilled at dips of 0 degrees to -43 degrees to test the area below the north end of the ultimate planned Springer pit and intersected significant mineralization. SD10-99 intersected 202.9 metres grading 0.35% copper and 0.26 g/t gold and SD10-100 intersected 221.3 metres grading 0.32% copper and 0.34 g/t gold in an area about 70 metres beneath the current Springer pit design. SD10-103 was also a low angle hole collared inside the Springer pit to take advantage of its depth and successfully expanded the known mineralization to the southeast intersecting 113.3 metres grading 0.27% copper and 0.37 g/t gold. The drill hole was still in mineralization when it was terminated due to a scheduling conflict with the production operations in the pit. Significant intervals from Springer drilling: --------------------------------------------------------------------------- Interval SPRINGER Drill Total Length Hole # Length (m) From (m) To (m) (m) Copper % Gold g/t SD10-99 799.5 562.1 765.0 202.9 0.35 0.26 SD10-100 511.5 251.2 472.5 221.3 0.32 0.34 SD10-103 431.9 316.3 429.6 113.3 0.27 0.37 including 316.3 332.5 16.2 0.54 1.08 --------------------------------------------------------------------------- Underground development to provide access to the Boundary zone has advanced 230 metres. The ramp was collared in the north wall of the completed Wight pit and is close to 50% complete. When completed, exploration drilling from underground drill stations will be conducted to further define the Boundary and Zuke zones. Two exploration drill rigs remain active at Mount Polley and exploration is expected to continue into December. A drill plan, section maps and an updated table of significant intercepts will be available on the Company's website.Steve Robertson, P.Geo., the designated Qualified Person as defined by National Instrument 43-101 for the exploration programs, has reviewed this news release. Samples for the diamond drilling reported at Mount Polley were analyzed at the Mount Polley mine laboratory and at Acme Analytical Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was maintained for all samples submitted to the labs. The porphyry and breccia related deposits at Mount Polley are irregular in shape and true thicknesses have not been estimated. 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 copper/gold property in northwest British Columbia, and Sterling gold property in southwest Nevada.FOR FURTHER INFORMATION PLEASE CONTACT: Imperial Metals Corporation Brian Kynoch President 604.669.8959 or Imperial Metals Corporation Patrick McAndless Vice President Exploration 604.488.2665 or Imperial Metals Corporation Sabine Goetz Investor Relations 604.488.2657 info@imperialmetals.com www.imperialmetals.com