IMPERIAL METALS CORPORATION

Imperial Metals Corporation report that in the quarter ended Sep30/09, recoveries from the high oxide Springer ore continue to be low, but are increasing with copper recovery going from 59.24 % in the second quarter to 61.71% in the current quarter, and gold recovery going from 68.53% in the second quarter to 70.45% in the current quarter. The majority of ore delivered to the mill was from the Springer pit, along with smaller amounts from the Southeast and Wight pits. The last of the Wight pit ore was milled in the September quarter. Development of the Pond zone pit is underway. The first ore is expected to be delivered to the mill in the first quarter of 2010. Exploration expenditures at Mount Polley were $1.4 million in the September 2009 quarter compared to $0.8 million in the September 2008 quarter. Drilling is being conducted in the Boundary zone, Pond zone, and to the northwest of the Springer pit. A permit has been received to drive an access ramp from the Wight pit to explore the Boundary zone with underground drilling. The excavation of this ramp is expected to begin in the second quarter of 2010. The Wight pit is currently being backfilled to provide access to the north wall of the pit for this ramp to be collared.