Innovation Metals Corp. Announces Resignation of Senior

Toronto, February 16, 2022 (GLOBE NEWSWIRE) – Innovation Metals Corp. (“IMC“or”The company”) Announces that the team of the company’s Chief Executive Officer, including the co-founder, chairman and CEO of IMC, Dr. Gareth Hatch; President and CEO, Tyler Deanwoody; Chief Operating Officer and Vice President of Metallurgy, Dr. Kurt Forrester; and, senior metallurgical consultant, David JohnsonOn February 14, 2022, he officially submitted his resignation to the IMC.

Dr. Hatch and Mr. Deanwoody are officers and CEOs of the IMC. Dr. Forrester works as an IMC staff member. The resignation was the result of ongoing operational problems involving the parent corporation IMC, Ucore Rare Metals Inc. (“Ucore»). Ucore CEO and IMC board member Pat Ryan remains at the IMC.

Under the terms of the voluntary resignation of their respective consulting and employment agreements, Dr. Hatch and Mr. Dinwoody will remain in their positions at the IMC until November 14, 2022. Dr. Forrester will remain in office at the IMC until May 14, 2022. Mr Johnson’s resignation takes effect immediately. Once suitable replacements are identified and secured, Dr. Hatch, Forrester and Mr. Deanwood are looking forward to supporting a smooth, rapid transition.

About Innovation Metals Corp.

IMC has developed a patented RapidSX працэс process for cheap separation and purification of rare earth elements, Ni, Co, Li and other process metals using an accelerated form of solvent extraction. IMC is commercializing this approach for a number of metals to help mining and metal processing companies compete in today’s global marketplace.

For more information, visit www.innovationmetals.com.

About RapidSX technology ™

The IMC developed RapidSX technology with the help of the United States Department of Defense in the early stages (“US Department of Defense“), Which later led to the production of commercial grade, separated rare earth oxides”REA») On a pilot scale. RapidSX combines the time-tested chemistry of conventional solvent extraction (“SX”) With a new column-based platform that significantly reduces completion time and production volume, and potentially reduces capital and operating costs. SX is an international rare earth element (“REE”) Is a standard industrial commercial separation technology and is currently used by 100% of all REE manufacturers worldwide for commercial separation of both heavy and light REEs. Using a chemical composition similar to conventional SX, RapidSX is not a “new” technology, but represents a significant improvement over the well-proven, well-understood, proven conventional SX separation technology preferred by REE manufacturers.

Statements about the future

This news release contains forecasts and statements that may make up «forward-looking statements in the sense of applicable Canadian, United States and the other laws. Promising statements in this issue may include, but are not limited to, statements regarding the future plans, costs, objectives, or performance of Innovation Metals Corp. (“IMC») Or assumptions underlying any of the above. In this news release words like «can”,“could”,“b”,“will be”,“probably”,“to believe”,“to wait”, “Anticipate”,“intend”,“plan”,“purpose”,“evaluation”, and similar words and their negative forms are used to identify forward-looking statements. Perspective statements are subject to known and unknown risks, uncertainties and other factors beyond the control of the IMC, which may result in the actual results, level of performance, performance or achievements of the IMC differing significantly from those identified or implied. such promising statements. Such risks and uncertainties can lead to the fact that the actual results and plans and goals of the IMC differ significantly from those expressed in forward-looking information. The IMC cannot give any guarantees that its plans will be completed. This and all subsequent written and oral forward-looking information is based on management’s estimates and opinions as of date and / or dates, and they are fully outlined in this communication. Except as required by law, the IMC undertakes no obligation to update forward-looking information if circumstances or estimates or management’s opinions change.

Contact

Tyler Deanwoody
President and CEO

Innovation Metals Corp.
+1 416 218 2006
info@innovationmetals.com
www.innovationmetals.com

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