January 21, 2008 Higher Grade Gold Zone Discovered at Imperial's Sterling Property VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2008) - Imperial Metals Corporation (TSX:III) reports a higher grade gold zone discovery at the Company's Sterling property in Nevada. Grab sample assays collected from a 30 foot stub drift east of the 144 Zone averaged 0.20 ounces per ton (6.27 g/t) gold. One sample returned a grade of 0.71 ounces per ton (22.1 g/t) gold in a silicified fault breccia. The drift terminated in mineralized rock. The assays are the highest obtained to date from east of the latite dike that formed the eastern boundary of the known 144 Zone mineralization. These assays indicate the higher grade mineralization extends east of the dike. A plan showing the location of this sampling is available on the Company's website. Underground diamond drilling has now begun to test the continuity and extent of gold mineralization, and explore the extensive new hydrothermal breccias, discovered east of the 144 Zone during construction of the 3,352 foot decline. During construction of the decline, rib sampling of 150 feet of hydrothermal breccia, intersected to the east of the latite dike, averaged 0.039 troy ounces per ton (1.33 g/t). This breccia is characteristically similar to the breccia halo surrounding higher grade gold mineralization west of the dike. Gold mineralization within the 144 Zone is controlled both by stratigraphy and structure. Past surface drilling defined a mineralizated body on the west side of a latite dike at the contact between overlying silty dolostone and underlying limestone. Exposure of the dike within the decline demonstrated the dike occupies a gold-mineralized fault and the stratigraphic contact hosting the 144 Zone mineralization is offset across this fault. Patrick McAndless, P.Geo. is the Qualified Person as defined by National Instrument 43-101 for the exploration program. Samples were analyzed at the Mount Polley assay laboratory and at Acme Analytical in Vancouver. Imperial's wholly owned Sterling property is located near the town of Beatty, Nevada, about 185 kilometres northwest of Las Vegas. The property includes the Tungsten Canyon, Fluorspar Canyon and Mary claims, comprising 711 lode mining claims covering 5,694 hectares. A resource of 194,640 tonnes grading 7.41 g/t gold in the 144 Zone was previously outlined through surface drilling. Imperial is a mine development and operating company based in Vancouver, British Columbia. The Company's key properties are the Mount Polley open pit copper/gold producing mine in central British Columbia, the Huckleberry open pit copper/molybdenum producing mine) in northern British Columbia, the development stage Red Chris property in northern British Columbia, and the Sterling gold property in southwest Nevada.

CONTACT INFORMATION: Imperial Metals Corporation Brian Kynoch President (604) 669-8959 Fax: (604) 687-4030 or Imperial Metals Corporation Patrick McAndless Vice President Exploration (604) 488-2665 or Imperial Metals Corporation Sabine Goetz Investor Relations (604) 488-2657 Email: info@imperialmetals.com Website: www.imperialmetals.com INDUSTRY: Manufacturing and Production - Mining and Metals