iMetal Resources confirms private placement fully subscribed

Vancouver, British Columbia--(Newsfile Corp. - August 5, 2026) - iMetal Resources, Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) (" iMetal " or the " Company ") confirms that its previously announced non-brokered private placement (the " Offering ") is now fully subscribed. The Offering consists of 30,000,000 Units (each, a " Unit "), at a price of $0.10 per Unit, for gross proceeds of $3,000,000.

Each Unit consists of one common share in the capital of the Company (each, a " Share ") and one transferable share purchase warrant of the Company (each, a " Warrant "). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.175 for a period of thirty-six months after the closing of the Offering. The Warrants will be subject to an accelerated expiry if, any time after the date that is four months and one day after the closing date of the Offering, the volume-weighted average trading price of the Shares on the TSX Venture Exchange (" TSXV ") exceeds $0.40 for twenty (20) consecutive trading days, in which event the holders of the Warrants may, at the Company's election, be given notice and the Company will issue a press release announcing the Warrants will expire thirty (30) days following the date of such press release.

McFarlane Lake Mining Limited (CSE: MLM) (" MLM ") has agreed to participate (the " Investment ") in the Offering in the amount of 14,200,852 Units. This will result in MLM holding 19.9% of the outstanding common shares of the Company upon completion of the Offering. In connection with the Investment, the Company and MLM have entered into an investor rights agreement, to be effective upon closing of the Offering, pursuant to which MLM will be entitled to nominate one member of the board of directors of the Company and to advise the Company on exploration activities at the Company's Gowganda West property. This will allow the Company to draw upon MLM's technical expertise and regional experience in support of exploration planning and execution.

"MLM's investment is a strong endorsement of Gowganda West and of the strategy we have been executing," said Saf Dhillon, President & CEO of iMetal. "Beyond the capital, this strategic investment brings us a partner with substantial Abitibi exploration experience and technical capability that can be applied directly to our flagship project. We are pleased to welcome MLM as a significant shareholder and we look forward to having their support as we advance our exploration programs."

The Company intends to use the net proceeds of the Offering towards further exploration at the Company's properties as well as for general working capital.

Integrity Capital Group Inc. (" Integrity ") is acting as financial advisor, and Cassels Brock & Blackwell LLP is acting as legal advisor, to the Company in connection with the Offering. Wildeboer Dellelce LLP is acting as legal advisor to MLM in connection with the Investment.

For further information concerning the Offering, please contact Integrity at ecm@integritycapitalgrp.com . The Company has agreed to pay Integrity a fee on any subscribers introduced by Integrity to the Offering consisting of: (i) a cash commission equal to 8% of the gross proceeds from subscribers introduced by Integrity to the Offering; and (ii) non-transferable broker warrants (each, a " Broker Warrant ") equal to 8% of the number of Units sold to subscribers introduced by Integrity to the Offering. Each Broker Warrant will entitle the holder to acquire one Unit at an exercise price of $0.10 for a period of thirty-six months after the closing of the Offering.