Imperial Mining Announces Closing of Second Tranche of Private Placement

MONTREAL, Oct. 11, 2018 — Imperial Mining Group Ltd. (“Imperial” or the “Corporation”) (TSX VENTURE:IPG) is pleased to announce that that further to its news release dated July 30, 2018, Imperial has successfully closed the second tranche of its non-brokered private placement (the “Offering“) and issued 2,507,500 units of the Corporation (each a “Unit”) at a price of $0.08 per Unit for gross proceeds of $200,600. This tranche is part of a total Offering of up to 10,000,000 Units at a price of $0.08 per Unit for aggregate gross proceeds of up to $800,000.

Each Unit is comprised of one (1) common share of the Corporation (each a “Share”) and one half of one (1/2) Share purchase warrant, with each whole warrant entitling the holder to acquire one (1) Share at a price of $0.11 per Share until October 10, 2020.

Imperial intends to complete additional closings in respect of the Offering and has requested and received TSX Venture Exchange approval to extend until November 8, 2018.

The Corporation will use the proceeds of the Offering for exploration work on its properties and for working capital purposes.

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In connection with the second tranche of the Offering, the Corporation paid finders’ fees totalling $8,400.00 cash and issued 105,000 Share purchase warrants of the Corporation, each entitling to acquire one (1) Share until October 10, 2020 at an exercise price of $0.11 per Share.

All securities issued pursuant to the Offering are subject to the applicable statutory four month hold period ending February 11, 2019. The Offering is subject to the final approval of the TSX Venture Exchange.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a new Canadian mineral exploration and development company focused on the advancement of its copper-zinc, gold and technology metals properties in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” 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.

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