Vancouver, BC / TheNewswire / March 14, 2019 – iMetal Resources Inc. (TSXV: IMR) (“iMetal” or the “Company”) is pleased to announce that it has closed a hard dollar private placement at 15 cents per unit for gross proceeds of $250,000, subject to TSX Venture Exchange approval. In addition, the Company is pleased to announce that it has received proceeds of approximately $500,000 related to the exercise of warrants since November 1, 2018.

The Company will issue 1,666,667 units at a price of $0.15 per unit, a premium of approximately 30% to the market price. Each unit consists of one common share of the Company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share, exercisable at a price of $0.20 per share for a period of 24 months from the date of issue.

A new institutional investor is participating for the largest portion of the placement. Insiders of the Company have subscribed for an aggregate of 146,667 units for gross proceeds of $22,000 under the private placement alongside support from existing shareholders.

iMetal has agreed to pay finder’s fees of 10% cash and 10% warrants (“finder’s warrants”) in relation to the private placement. The finder’s warrants will entitle the holder to purchase one additional common share, exercisable at a price of $0.20 per share for a period of 24 months from the date of issue. The Company has also agreed to pay finder’s fee broker warrants (“broker warrants”) on a portion of the private placement, which will entitle the holder to purchase one additional common share, exercisable at a price of $0.16 per share for a period of 24 months from the date of issue. All finder’s fees are subject to TSX Venture Exchange approval.

All securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.

The proceeds of the private placement and warrant exercises will be used for continued drilling and exploration work at iMetal’s Gowganda West Property. The Company will be updating investors on developments at Gowganda West in the near future.

ON BEHALF OF THE BOARD OF DIRECTORS,

“Johan Grandin”

President & CEO, iMetal Resources Inc.

jgrandin@imetalresources.ca

Tel. (604)-739-9713

510-580 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca