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IMC, the London-listed gold and base metals explorer in Ireland, is pleased to share the following updates with shareholders as the gold price reaches a six-year high:

IMC published on 11th September 2019 a mineral resource estimate (MRE) on its Avoca spoils and tailings project located in Co. Wicklow, Ireland. The JORC-Compliant MRE report shows, inter alia, significant grades of extracted and crushed gold (1,871,000t at 0.3g/t Au), copper (1,871,000t at 0.14% Cu) and lead (1,871,000t at 0.42% Pb) in the spoil heaps on the eastern half of the site. Mineralogical testing is ongoing, and it is anticipated that the test work will indicate that a sizeable quantity of gold and other metals will be recoverable at low cost, given that the material has already been extracted and crushed.

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The Directors of IMC are pleased to announce an update on the collaboration between the Raw Materials Research Group at Trinity College Dublin and the Company. IMC’s Board believes access to world class micro-analytical facilities at Trinity College Dublin is a tremendous development for IMC and its Avoca properties. Trinity College Dublin was established by royal charter in 1592 and is committed to excellence in both research and teaching. Trinity College Dublin hosts one of Europe’s finest raw materials characterisation laboratories with state-of-the-art analytical facilities and full sample preparation facilities for rock crushing and mineral separation.

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The Board of IMC announces that it has received an exercise notice, exercising warrants over 2,000,000 (two million) new ordinary shares of Euro 0.001 each in the capital of the Company (the “Warrant Exercise Shares”) at the price of GBX1.00 (one penny Sterling) per share. The Company has accordingly issued the Warrant Exercise Shares to the holder of the warrants exercised against an aggregate, net cash consideration of £20,000 (twenty thousand pounds Sterling).

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CSA Global Pty Ltd (CSA Global) has completed a Mineral Resource Estimate (MRE) for IMC’s Avoca historic mine site project located in Co. Wicklow, south-east Ireland.

The sample density has allowed the MRE to be classified as an Inferred Resource and is reported in accordance with the JORC Code (2012). The classification of the MRE was carried out taking into consideration the volumes of the spoil heaps, the nature and spacing of the sampling and density data. The MRE is presented below.

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Further to the Company’s announcement on 20th August 2019 of the Placing of 15,000,000 Shares (together with a like number of unquoted Warrants) and its intention to apply for Admission of the Placing Shares and the Fee Shares aggregating 17,731,706 Shares, the Company is pleased to announce that it has received confirmation that these Shares have been admitted and that trading in them will commence on the regulated market of the London Stock Exchange today (Tuesday, 27th August 2019).

About IMC Exploration

IMC Exploration Group plc (IMC) is currently listed on the London Stock Exchange market (Ticker: IMC). IMC has a Mineral Resource that is classified as ‘inferred’ and has been reported in accordance with the JORC Code (2012). IMC holds properties in southeast Ireland that are highly prospective for gold, copper and other base metals. These include the world famous historic Avoca copper mine.

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Contact details

IMC Exploration Group plc,
70 Ballybough Road,
Dublin 3, Ireland

Telephone: +353 872819215

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