VANCOUVER, BRITISH COLUMBIA–( EMWNews – March 31, 2008) – Imperial Metals Corporation (TSX:III) has updated the mineral reserve and mineral resource estimates for the Mount Polley and Huckleberry mines.

Mount Polley Updated Mineral Reserve and Mineral Resource Estimate

The reserve and resource estimate for Mount Polley has been updated as of January 1, 2008. The current estimate incorporates open pit mining of the Southeast Zone, C2 Zone and the Springer Zone, in addition to the current Wight and Bell pits, and reflects twelve months of mine production since the January 1, 2007 estimate.

As of January 1, 2008 total Mount Polley reserves are 55.6 million tonnes of 0.36% copper, 0.30 g/t gold and 0.66 g/t silver, compared to 59.9 million tonnes of 0.36% copper, 0.27 g/t gold and 0.73 g/t silver at January 1, 2007. Exploration replaced 2.2 million tonnes of the 6.4 million tonnes mined in 2007. The current mine life for Mount Polley is to the fourth quarter of 2015. Drilling continues to expand the resources on the site, with 104 million tonnes of mineral resources identified in addition to the reserves.

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Mount Polley Mine Proven and Probable Reserves
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                             Grade             Contained Metal
                    -----------------------------------------------
                                            Copper    Gold   Silver  Strip-
                     Copper  Gold Silver       (lb)    (oz)     (oz)  ping
Zone/Pit  Tonnes Ore      %   g/t    g/t 000,000's   000's    000's  Ratio
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Wight      2,526,502  0.957 0.307  6.166     53.30   24.94   500.86   1.39
Bell       1,674,934  0.386 0.445      -     14.25   23.96        -   1.01
Springer  44,499,296  0.339 0.277  0.421    332.57  396.30   602.32   3.19
C2         4,544,770  0.246 0.364      -     24.65   53.19        -   2.77
Southeast  2,315,221  0.248 0.458  1.046     12.66   34.09    77.86   1.12
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Total     55,560,723  0.357 0.298  0.661    437.44  532.48 1,181.04
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Reserve Calculation Parameters

The parameters used in this updated resource are based on updated pit designs and the current Mount Polley production schedule. The ultimate pit designs were based on US$1.80 copper, US$750.00 gold, US$10.00 silver and $1.176 CDN/US exchange rate.

The economic mineral reserves and resources at Mount Polley mine were calculated as follows:

– A 3D block model was constructed using Minesight Mining Software.

– The property was zoned based on geological zones, the blocks and drill holes were then coded to reflect the zones.

– The drill holes were composited to 5 metre down the hole composites.

– Mineralized zones were identified within the geological zones, by kriging an indicator to identify the blocks that have a high probability of having greater than a 0.15% copper grade.

– The drill hole composites were then coded to match the indicator codes in the block model.

– Outlier grades were capped, and variograms for Cu, Au, Ag and Fe in each zone were generated.

– Grades were kriged into the block model, using zone and indicator matching.

– An oxide ratio number for each block was interpolated using an ID3 method, with zone and indicator matching. The oxide ratio number is used in the mill recovery formula.

– The mill recoverable grades were calculated using formulas based on historic recoveries as well as on and off site metallurgical test work.

– A dollar value was calculated for each block based on the metals prices, US/Can Exchange Rate, and mining, shipping and smelting costs.

– Lerchs-Grossman pit optimization software was used to identify economic pit shell based on the above economic parameters. Pit designs were created using the economic pit shells and design parameters from Golder Geotechnical Consultants of Vancouver.

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Resource by Zone(1) (resource values based on 0.3 Copper Equivalent
Cut-Off)
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                               Grade                   Contained Metal
                    ------------------------------------------------------
                    Copper                        Copper     Gold   Silver
                     Equiv Copper  Gold Silver       (lb)     (oz)     (oz)
          Tonnes Ore  (i)%      %   g/t    g/t 000,000's    000's    000's
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Northeast & Boundary
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Measured  19,631,561 0.774  0.580 0.229  4.077    251.02   144.54 2,573.28
Indicated  2,666,499 0.677  0.464 0.267  3.281     27.28    22.89   281.28
Inferred   2,366,199 0.500  0.372 0.156  2.301     19.41    11.87   175.05
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Bell
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Measured   9,562,373 0.420  0.233 0.238  n/a(i)    49.12    73.17    n/a(i)
Indicated    976,160 0.376  0.227 0.190  n/a(i)     4.89     5.96    n/a(i)
Inferred     828,312 0.372  0.236 0.174  n/a(i)     4.31     4.63    n/a(i)
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Springer
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Measured  11,629,284 0.622  0.375 0.314  n/a(i)    96.14   117.40    n/a(i)
Indicated 25,308,462 0.550  0.305 0.311  n/a(i)   170.17   253.06    n/a(i)
Inferred  24,893,060 0.543  0.290 0.322  n/a(i)   159.15   257.71    n/a(i)
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C2
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Measured   5,346,239 0.487  0.237 0.359  n/a(i)    27.93    61.71    n/a(i)
Indicated  4,012,385 0.484  0.238 0.353  n/a(i)    21.05    45.54    n/a(i)
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Southeast & Pond
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Measured  20,133,644 0.525  0.209 0.402  1.668     92.88   260.00 1,079.87
Indicated  5,597,768 0.426  0.173 0.323  1.444     21.31    58.20   259.81
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Total Resource
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Meas/Ind 104,864,375 0.573  0.330 0.309  1.244    761.80 1,042.47 4,194.23
Inferred  28,087,571 0.534  0.295 0.304  0.194    182.86   274.21   175.06
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n/a(i) silver assay values only available in the Northeast, Boundary and
Southeast zones
(1) "Proven and Probable Reserves" are not included in these resource
values


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Copper Equivalent Calculation by Zone (resource values based on 0.3 Copper
Equivalent Cut-Off)
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Northeast(1)              EqCu% equals Copper + Gold / 1.44 + Silver / 116
Bell                      EqCu% equals Copper + Gold / 1.27
Springer                  EqCu% equals Copper + Gold / 1.27
C2                        EqCu% equals Copper + Gold / 1.27
Southeast                 EqCu% equals Copper + Gold / 1.44 + Silver / 116
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(1) Northeast Zone contains the Wight Pit

Resource values were identified by summing all blocks that fall outside of the economic pit and having a block grade greater than 0.30 copper equivalent. The copper equivalent was calculated using relative recovery and metal price for copper, gold and silver. The resources were classified as inferred, indicated and measured based on the following three items; minimum number of drill holes used in the estimate, minimum number of composites, and the maximum distance to the nearest composite.

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Resource Calculation Parameters
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Resource              Min. # of Holes      Min. # of      Max. Distance to
Classification      used for Estimate     Composites     Nearest Composite
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Inferred                            1          3.000                   60m
Indicated                           2          3.000                   50m
Measured                            3          5.000                   25m
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The ore reserves and resources were calculated and verified by Art Frye, Manager of Mining, Mount Polley Mining Corporation and Greg Gillstrom, P. Eng., Geological Engineer, the designated Qualified Person as defined by National Instrument 43-101.

Huckleberry Updated Mineral Reserve and Mineral Resource Estimate

On December 31, 2007 the mineral reserve of the Main Zone Extension pit was calculated at a cut-off grade of 0.200%. Probable reserves at December 31, 2007 were prepared under the supervision of Kent Christensen, P.Eng., Huckleberry Mine Chief Mine Engineer, designated as the Qualified Person for this purpose.

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Huckleberry Mine Proven and Probable Reserves
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                         Ore (tonnes)    Copper(%)   Moly(%)   Strip Ratio
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Main Zone Extension       16,560,000        0.352     0.005         0.81:1
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Prices used in the calculation of the Huckleberry reserves were US$1.63/lb copper, US$550.00/oz gold, US$8.50/oz silver, US$7.50/lb molybdenum and an exchange rate of $1.15 CDN/US.