III Imperial Metals Corporation

Imperial Metals Corporation (TSX:III) reports that metal production for the
second quarter 2014 from its Mount Polley, Huckleberry(1) and Sterling mines
was, on an aggregate basis, 16.6 million pounds copper, 13,867 ounces gold and
59,289 ounces silver.


At Mount Polley the second quarter average daily throughput was 23,404 tonnes
per day, up by 23% compared to the first quarter. Metal production totalled 12.0
million pounds copper, 11,867 ounces gold and 33,813 ounces silver; increases of
46%, 24% and 35% respectively compared to the first quarter 2014.


Huckleberry copper production was up 67% in the second quarter 2014 compared to
the first quarter, from 5.5 million pounds to 9.2 million pounds. The SAG mill
has performed well since the restart on April 5, with throughput averaging
15,213 tonnes per day for the second quarter, up from the first quarter average
of 9,967 tonnes per day. Softer ore from the Main Zone pit and adjustments in
the mill resulted in a steady increase in the mill throughput rate during the
second quarter. In the first week of July, the mill throughput averaged 20,433
tonnes per day.


Sterling mining operations resumed on June 17, 2014 after the mine received an
air emissions permit issued in accordance with new regulations. Due to the
suspension of operations no gold was shipped during the second quarter compared
to 2,104 ounces gold shipped during the first quarter. Subsequent to the end of
the second quarter, approximately 1,500 ounces gold was shipped in early July.


On-site construction at Red Chris is well advanced. Interior steel, mechanical
installation, and the tailings and reclaim water systems are 93% complete.
Piping and electrical work (including the powerline from Tatogga to the
minesite) continues to progress at a satisfactory rate, and will be completed on
time for the commissioning and start-up of milling operations at Red Chris.
Mining operations have already commenced at Red Chris with the first excavation
of ore grade material from the East zone. This material is being stockpiled for
commencement of milling operations.


The 287kv Northwest Transmission Line (NTL) from Skeena substation near Terrace
to Bob Quinn is now complete, and BC Hydro reports the Bob Quinn substation was
energized today. Construction of the 93km Iskut extension of the NTL from Bob
Quinn to Tatogga continues to progress. All towers for the Iskut extension are
targeted to be in place by the end of July. Energization of the Iskut extension
has been delayed somewhat as a result of the delivery of faulty implosion
sleeves. These sleeves are used to splice the conductors. Implosion sleeves are
specifically designed metallic sleeves with a small engineered charge wrapped
around the sleeve. The charge creates an implosive compression, seamlessly
joining two conductor ends. At present the new implosion sleeves are targeted to
be on site by the end of July. Due to delays associated with the faulty
implosion sleeves, the completion and energization of the Iskut extension is now
anticipated to be in September 2014. Commissioning and start up of the Red Chris
milling operations will follow.


(1) stated as Imperial's 50% allocation of Huckleberry production

About Imperial

Imperial is an exploration, mine development and operating company based in
Vancouver, British Columbia. The Company operates the Mount Polley copper/gold
mine in British Columbia and the Sterling gold mine in Nevada. Imperial has 50%
interest in the Huckleberry copper mine and has 50% interest in the Ruddock
Creek lead/zinc property, both in British Columbia. Imperial is in development
of its wholly owned Red Chris copper/gold property in British Columbia.


Cautionary Note Regarding "Forward-Looking Information"

This press release contains "forward-looking information" or "forward-looking
statements" within the meaning of Canadian and United States Securities Laws,
which we will refer to as "forward-looking information". Except for statements
of historical fact relating to the Company, certain information contained herein
constitutes forward-looking information. If we discuss mine plans; costs and
timing of current and proposed exploration, development, production and
marketing; capital expenditures; construction of transmission lines; cash flow;
working capital requirements and the requirement for additional capital;
operations; revenue; margins and earnings; future prices of copper and gold;
future foreign currency exchange rates; future accounting changes; future prices
for marketable securities; future resolution of contingent liabilities; receipt
of permits; or other matters that have not yet occurred, we are making
statements considered to be forward-looking information or forward-looking
statements under Canadian and United States Securities Laws.


The forward-looking information in this press release may include words and
phrases about the future, such as: plan, expect, forecast, intend, anticipate,
estimate, budget, scheduled, believe, may, could, would, might or will. We can
give no assurance the forward-looking information will prove to be accurate. It
is based on a number of assumptions management believes to be reasonable,
including but not limited to: the continued operation of the Company's mining
operations, no material adverse change in the market price of commodities or
exchange rates, that the mining operations will operate and the mining projects
will be completed in accordance with their estimates and achieve stated
production outcomes and such other assumptions and factors as set out herein. It
is also subject to risks associated with our business, including but not limited
to: risks inherent in the mining and metals business; commodity price
fluctuations and hedging; competition for mining properties; sale of products
and future market access; mineral reserves and recovery estimates; currency
fluctuations; interest rate risks; financing risks; regulatory and permitting
risks; environmental risks; joint venture risks; foreign activity risks; legal
proceedings; and other risks that are set out in the Company's current
Management's Discussion & Analysis. If our assumptions prove to be incorrect or
risks materialize, our actual results and events may vary materially from what
we currently expect as provided in this press release. We recommend review of
the Company's current Management's Discussion & Analysis, which includes
discussion of material risks that could cause actual results to differ
materially from our current expectations. Forward-looking information is
designed to help you understand management's current views of our near and
longer term prospects, and it may not be appropriate for other purposes. We will
not necessarily update this information unless we are required to by securities
laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brian Kynoch
President
604.669.8959


Andre Deepwell
Chief Financial Officer
604.488.2666


Gordon Keevil
Vice President Corporate Development
604.488.2677


Sabine Goetz
Shareholder Communications
604.488.2657
investor@imperialmetals.com

Imperial Metals (TSX:III)
Historical Stock Chart
From Mar 2024 to Apr 2024

Imperial Metals (TSX:III)
Historical Stock Chart
From Apr 2023 to Apr 2024