Binding Agreement For Option To Acquire Toiyabe Gold Project

TORONTO - IM Exploration Inc. has entered into a binding agreement with Starcore International Mines Ltd., which sets forth the terms for the assignment of Starcore's option to acquire a 100% interest in the Toiyabe Gold Project in Lander County, Nevada from Minquest Ltd. The Project is comprised of 165 contiguous unpatented mining claims totaling approximately 3,300 acres, and is located 125 kilometers south-southwest of Elko, Nevada, on the Battle Mountain - Eureka Trend. This 280 by 40-kilometer corridor is known for being one of the most prolific gold mining districts in the world, and hosts multiple large Carlin-style deposits.

The Project has seen limited exploration activity since 2016, when Starcore completed a 3,000-meter / 15-hole program at the property. Shallow RC drill holes identified a possible extension of the near-surface resource and the first deep core hole identified high-grade gold mineralization (1.5 meters of 12.9 g/t gold). Starcore's flagship asset is the producing San Martin Mine in Mexico and company resources have been largely dedicated to operations there over the last 5 years.