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I-Minerals Announces Continuation into British Columbia, Change of Name to Highcliff Metals Corp. and Proposed Share Consolidation

Vancouver, British Columbia--(Newsfile Corp. - March 9, 2023) - I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) (the "Company") is pleased to announce that the directors and shareholders of the Company has approved the continuance of the Company into the Province of British Columbia under the Business Corporations Act (British Columbia) and a change of the Company's name to "Highcliff Metals Corp." (the "Name Change").

Immediately following completion of the Continuation and the Name Change, the Company will also consolidate its issued and outstanding common shares at a ratio of up to ten (10) pre-consolidated shares to one (1) post-consolidated share (the "Consolidation"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, put the Company in a better position to complete acquisitions and generate greater investor interest.

As a result of the Continuation, the Company's new Articles will not require shareholder approval of the Consolidation.

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The Continuation, Name Change and Consolidation are subject to the acceptance by the TSX Venture Exchange.

About the Company

The Company currently has no mineral properties and will seek out to identify and acquire a new mineral property.

I-Minerals Inc.

per: "John Theobald"

John Theobald,
President & CEO

Contact: I-Minerals Inc.

Barry Girling
208-953-7372
Email: info@imineralsinc.com

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.

This News Release includes certain forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: ability to complete the Transaction (including obtaining all necessary shareholder and regulatory approvals), the need to comply with environmental and governmental regulations, changes in the worldwide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital. Accordingly, actual and further events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157823