over-subscribed by $15,000.

TSX.V: IMR

News Release – May 18, 2016

Vancouver, BC – iMetal Resources Inc. (IMR: TSXV) (the “Company”) announces that further to its news release dated April 8, 2016, the Company has closed the sale of its nonbrokered private placement of 8,300,000 common shares (the "Shares") at a price of $0.05 per Share, for gross proceeds of $415,000 (the "Private Placement"). The Private Placement was over-subscribed by $15,000.

In conjunction with the Private Placement, the Company will pay aggregate finder’s fees of $7,500 and issue 200,000 common shares.

All securities to be issued pursuant to the Private Placement will be subject to a hold period expiring September 18, 2016.

Proceeds from the Private Placement will be used to advance certain of the Company’s mineral property interests, to potentially acquire additional mineral property interests, and for general working capital purposes.

The Company also announces that it intends to grant 5,000,000 incentive stock options to its directors, officers, and consultants. Each option permits the grantee to acquire one common share of the Company at a price of $0.05 per share and expires five years from the date of the grant.

The Company’s Stock Option Plan and the stock option grant are subject to both shareholder and regulatory approvals. These granted options may not be exercised without the Company having first obtained shareholder and TSX Venture Exchange approval. The Company’s Annual General Meeting will be held on June 8, 2016 to address these matters.

iMetal Resources Inc.

ON BEHALF OF THE BOARD OF DIRECTORS

“Johan Grandin”

Johan Grandin

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

{00513958;1} 510 – 580 Hornby Street, Vancouver, B.C., V6C 3B6 (604)-739-9713