Imperial Metals Corp T.III

III news

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Source: Imperial Metals Corporation Imperial Reports Huckleberry Mines Ltd. Debt Repaid Wednesday December 6, 11:43 am ET VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 6, 2006) - Imperial Metals Corporation (TSX:III - News) reports that Huckleberry Mines Ltd. has repaid the balance of its long term debt totaling $37.3 million. The Government of British Columbia through the Ministry of Employment and Investment received $9.6 million and the Japan Group, a consortium of four Japanese companies, received $27.7 million. During the year 2006 Huckleberry repaid $120.9 million of long term debt and is now debt free. ADVERTISEMENT Huckleberry is expected to commence payment of cash dividends to shareholders in 2007. Imperial holds a 50% interest in Huckleberry Mines Ltd., which operates the Huckleberry copper/molybdenum open pit mine located southwest of Houston, BC. In July 2006 the Board of Huckleberry announced that it had approved management's recommendation to proceed with the extension of the Main Zone Pit. Mining of this pit will add over two year's life to the Huckleberry operation, extending production into 2010. Imperial is a mine development and operating company based in Vancouver, British Columbia. In addition to the Huckleberry mine, Imperial's other key properties are the Mount Polley open pit copper/gold producing mine (100% interest) in central British Columbia and the development stage Sterling gold mine (100% interest) in southwest Nevada. Contact: Brian Kynoch Imperial Metals Corporation President [phone] [phone] (FAX) Andre Deepwell Imperial Metals Corporation Chief Financial Officer [phone] Sabine Goetz Imperial Metals Corporation Investor Relations [phone] Email: [e-mail] Website: www.imperialmetals.com -------------------------------------------------------------------------------- Source: Imperial Metals Corporation