Update On Mount Polley Open Pit Mine

VANCOUVER, BC - Imperial Metals Corporation reported the updated mineral reserve and mineral resource estimates for its wholly owned Mount Polley open pit copper/gold mine located in central British Columbia. The Mount Polley reserve and resource estimate has been updated as of January 1, 2010 and incorporates open pit mining from the Southeast, C2, Pond, Boundary and Springer pits. Reserves are 40.5 million tonnes of 0.318% copper, 0.282 g/t gold and 0.606 g/t silver. The current reserve provides for a mine life to the fourth quarter of 2015 and contains 284 million pounds of copper and 367 thousand ounces of gold. The stripping ratio on the remaining reserve is now less than 2 to 1. In addition to the updated Mount Polley reserve there are 167.7 million tonnes of mineral resources in the measured and indicated category, and 3.66 million tonnes of mineral resources in the inferred category. For three of the zones where underground mining is being considered, a resource category including only blocks with a mill head value (MHV) of over $40.00/tonne and $80.00/tonne have been included. MHV is the total value of the recovered metals in one tonne of mill feed, minus all costs excluding mining. These costs include milling, concentrate transportation, smelting and refining costs. A 500 metre long ramp is currently being collared in the Wight pit. The ramp will be used to further explore and access the 517,066 tonnes grading 2.45% copper, 1.50 g/t gold and 14.00 g/t silver of measured and indicated resource in Boundary/Zuke zone. The company's address is 200, 580 Hornby Street, Vancouver, BC V6C 3B6, 604.669.8959, fax: 604.687.4030.