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Imperial Minerals Plc (IMPP)

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Friday 15 May, 2015

Imperial Minerals Plc

Update: Potential Interest in South American Investment


                             Imperial Minerals Plc                             
                         ("Imperial" or the "Company")                         

15 May 2015

          Update on Potential Interest in South American Gold Project          

On 22 December 2014 Imperial announced that it had entered into an agreement
with Symerton Holdings S.A. ("Symerton") under which it effectively secured an
option to investigate an opportunity to invest in a South American gold
project. Under this agreement Imperial made a 12% unsecured convertible loan to
Symerton of US$150,000 (the "Loan") and has the option to invest further
amounts in Symerton subject to certain conditions. Development work to secure
the gold opportunity continues and it is still too early to complete due
diligence procedures and negotiate the terms of any follow-on investment.

As at 30 April 2015, being the Loan repayment date, the Loan was still
outstanding and the Company, in conjunction with Symerton, is currently
negotiating an extension of the Loan and consequential amendments to its terms.

Further updates on progress with the Loan extension negotiations and the
development of the gold project will be made in due course.

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

For further information please contact:

Imperial Minerals plc
Frank Moxon
Tel: 01379 640 800

Peterhouse Corporate Finance Limited
Guy Miller and Mark Anwyl
Tel: 020 7220 9796

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