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Imperial Metals Corporation
TSX:	III

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July 29, 2008

Imperial Reports Sterling Underground Drill Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2008) - Imperial Metals Corporation (TSX:III) reports results from the underground drill program at its Sterling property. Drill hole SU08-48 targeted the core of the 144 zone and intersected a 112 foot interval grading 0.21 ounces per ton (7.2 g/t) gold. This completed phase of underground drilling to define and expand the 144 zone included 52 holes totaling over 13,000 feet.

Positive results of this drill program include:

- confirmation of high grade mineralization within the 144 zone;

- discovery and definition of the east extension of the 144 zone;

- discovery of an open mineralization trend on the west side of the 144 zone; and

- discovery of the gold-hosting potential of the latite dike which divides the main 144 zone from the east extension.

These discoveries will result in a recalculation of the total mineralized resource contained in the 144 zone.

Highlights from the final 21 holes of the program include drill holes SU08-47 and SU08-48, drilled within the higher grade core of the 144 zone. SU08-47 intersected 45 feet of gold mineralization grading 0.256 ounces per ton (8.79 g/t) gold within a longer 88 foot interval grading 0.197 ounces per ton (6.76 g/t) gold, while SU08-48 intersected 10 feet of 0.621 ounces per ton (21.29 g/t) gold within a 112 foot interval grading 0.21 ounces per ton (7.20 g/t) gold.

Other highlights include SU08-32 and SU08-46 drilled in the east extension of the 144 zone. SU08-32 intersected 15 feet grading 0.143 ounces per ton (4.90 g/t) gold within a longer 170 foot interval grading 0.046 ounces per ton (1.58 g/t) gold. SU08-46 intersected 16 feet grading 0.109 ounces per ton (3.72 g/t) gold within a 61 foot interval grading 0.068 ounces per ton (2.34 g/t) gold. SU08-32 and SU08-46 helped define an approximate 10-15 foot wide higher grade zone within the east extension of the 144 zone running parallel to the latite dike which divides the deposit. Following completion of the drill program, a 25 foot stub drift was excavated into this zone and a series of sixteen 20 lb bulk samples were taken from this drift for metallurgical analysis. This was followed by collection of eleven rib samples and one face sample at five foot spacings along the walls of the stub drift, which returned a weighted average grade of 0.12 ounces per ton (4.04 g/t) gold.

Hole SU08-52 drilled through the northern margin of the main 144 zone mineralization and across the latite dike north of the deposit. Where SU08-52 crossed the northern edge of the 144 zone mineralization, it intercepted 4.5 feet grading 0.111 ounces per ton (3.81 g/t) gold. This is consistent with the observation that the 144 zone gold mineralization remains open along trend to the north. SU08-52 then passed through the latite dike where it intersected 5 feet grading 0.040 ounces per ton (1.36 g/t) gold in unbrecciated rock at the centre of the dike. This result indicates gold mineralization is present within the dike over a large extent and supports the possibility of the latite dike being a new and important host for gold mineralization.

The following table highlights selected drill results (a drill plan and assay table will be available on the Company's website).

------------------------------------------------------------------------
144 Zone           Total  Interval Interval    Interval     Gold    Gold
Drill Hole    Length (ft) from (ft)  to (ft) Length (ft)  oz/ton     g/t
SU08-32            379.0     339.0    354.0        15.0    0.143    4.90
including                    199.0    369.0       170.0    0.046    1.58
SU08-46            119.0      75.0     91.0        16.0    0.109    3.72
including                     50.0    111.0        61.0    0.068    2.34
SU08-47            160.5      73.0    118.0        45.0    0.256    8.79
including                     73.0    161.0        88.0    0.197    6.76
SU08-48            199.0      82.0     92.0        10.0    0.621   21.29
including                     72.0    184.0       112.0    0.210    7.20
SU08-52            224.0      98.5    103.0         4.5    0.111    3.81
including                    163.0    168.0         5.0    0.040    1.36

Patrick McAndless, P.Geo. is the Qualified Person as defined by National Instrument 43-101 for the exploration program. Drill core was analyzed at Florin Analytical Services LLC in Reno, Nevada, while rib samples were assayed at the Company's Mount Polley mine in British Columbia. The breccia related deposits in the 144 zone are irregular in shape and true thicknesses have not been estimated.

The wholly owned Sterling property is located near Beatty, Nevada, 115 miles northwest of Las Vegas.

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 northwest British Columbia, and the exploration stage Sterling 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

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Imperial Metals Corp

	PRODUCER
	CODE : III.TO
	ISIN : CA4528921022
	CUSIP : 452892102

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Imperial is a zinc and lead producing company based in Canada.

Imperial produces zinc, lead, copper, diamonds, gold, molybdenum and silver in Canada, develops copper and gold in Canada, and holds various exploration projects in Canada.

Its main assets in production are HUCKLEBERRY, MOUNT POLLEY, PORCHER ISLAND and STERLING in Canada, its main asset in development is RED CHRIS in Canada and its main exploration properties are BEAR, NAK, SHERATON-TIMMINS, ROBB LAKE, LJ, KNEB, GHOST PROPERTY, INDATA, WASI CREEK, GIANT COPPER, RUDDOCK CREEK, CATFACE, BALDWIN-MCVICAR, THE CENTURY and FANDORA in Canada.

Imperial is listed in Canada and in United States of America. Its market capitalisation is CA$ 233.0 millions as of today (US$ 186.3 millions, € 163.2 millions).

Its stock quote reached its lowest recent point on November 29, 2002 at CA$ 0.15, and its highest recent level on July 17, 2015 at CA$ 9.98.

Imperial has 93 590 000 shares outstanding.

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