22 March 2018

                                                Imperial Minerals Plc

                                           (“Imperial” or the “Company”)

                                                   Issue of Equity

The Directors of Imperial Minerals Plc are pleased to announce that the Company has received commitments to raise £20,000 through the placing of 1,000,000 new Ordinary Shares of 0.1p each (the “Placing Shares”) at a price of 2p per share. The Placing Shares represent 3.15 per cent of the enlarged issued share capital of the Company with the funds to be used for working capital and corporate costs.

In addition to the Placing Shares, the Directors of the Company have resolved to issue 86,250 Ordinary Shares in lieu of fees for advisory services to the Company for the period 1 April – 30 June 2018.

On completion of the placing, the Company’s enlarged issued capital consists of 31,831,250 Ordinary Shares of 0.1p per share with voting rights. This number may be used by shareholders, following the placing, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

Also on completion of the placing, the following disclosable interests in the share capital of the Company are as follows:

   Name:                                                                 Amount of ordinary shares

Clariden Capital Ltd*             8,750,000 (27.49%) and 875,000 warrants
                                  exercisable at 4p per share

James Hamilton                    5,250,000 (16.49%)

Santon Consultancy Services Ltd** 2,000,000 (6.28%)

Bushvale Holdings Pty Ltd ***     1,000,000 (3.14%)

Frank Moxon                       1,000,000 (3.14%)

*100% beneficially owned by Campbell Smyth

** 100% beneficially owned by Emma Priestley

***100% beneficially owned by Russell Hardwick

The Directors of the Company accept responsibility for the content of this announcement.

For further information please contact:

Imperial Minerals Plc

James Hamilton

Tel: +61 402 186 106

Russell Hardwick

Tel: +61 417 714 292

Peterhouse Corporate Finance Limited

Guy Miller and Mark Anwyl

Tel: 020 7220 9796