Mount Polley Huckleberry

The Mount Polley open pit copper/gold mine is Imperial's principal mineral property. Mount Polley Mining Corporation, owner of the mine and property, is a wholly owned subsidiary of Imperial. The mine is located in south central British Columbia, 8 km southwest of Likely and 100 km (by road) northeast of Williams Lake. The property consists of 42 mineral claims encompassing 16,440 hectares. A total of 6.9 million tonnes ore were mined in 2008 producing 60.3 million lbs copper, 47,000 oz gold and 522,000 oz silver. Planned production for 2009 estimates 42 million lbs copper, 53,000 oz gold and 231,000 oz silver. The majority of 2009 production will be mined from the highly oxidized Springer pit, as well as from the Wight, Southeast and Pond zone pits. The Wight pit is scheduled to be completed in the spring of 2009. The Pond zone is expected to be in production by fall 2009. The Bell pit was completed in the 2008 third quarter. Mount Polley proven and probable reserves estimated [Jan 1/09] are 46.2 million tonnes grading 0.34% copper, 0.29 g/t gold and 0.95 g/t silver, compared to [Jan 1/08] 55.6 million tonnes grading 0.36% copper, 0.30 g/t gold and 0.66 g/t silver . The current mine life is to the end of 2015. Exploration continues to be conducted at Mount Polley. In 2008 exploration expenditures totaled $3.2 million compared to $4.8 million in 2007. Current exploration is focused on locating high grade ore to replace the Wight pit mill feed mined during the past 3 years. Drilling at the Boundary, Southeast and Northeast zones has returned significant intervals of high grade copper/gold mineralization. The Pond zone is one of the high grade discoveries expected to be in production by year end. In April 2009 Imperial entered into an option agreement with Valley High Ventures Ltd. to acquire a 100% interest in a portion of a claim adjacent to the Boundary zone. The optioned property will facilitate an open pit design for the near surface mineralization discovered in the Boundary zone. Drilling at the Boundary zone will be a high priority for exploration. This zone may become the first zone at be mined underground at Mount Polley. For additional information, refer to the Company's Quarter Reports, the Mount Polley section in the current Annual Information Form and the 43-101 Technical Report dated August 1, 2004 [www.sedar.com]. Ref: news releases Mar/Apr 2009; Feb/Mar/Jul/Oct/Nov 2008 UD:06.09

Home | Corporate | Operations | Properties | Investors | News | Contact | QwikReport | Disclaimer/Forward-Looking Statements
© 2007 Imperial Metals Corporation All Rights Reserved.