Iron Mountain Survey

[Ed Monton]

Orphan Boy adopted by Imperial

IMPERIAL METALS CORPORATION

TSX SYMBOL: III

DECEMBER 23, 2003 - 12:13 ET

Imperial Reports Orphan Boy Investment

VANCOUVER, BRITISH COLUMBIA--Imperial Metals Corporation
(III:TSX) announces that it has acquired, by way of private
placement (the "Transaction"), beneficial ownership of and
control over, 800,000 units of Orphan Boy Resources Inc. ("Orphan
Boy"). Each unit is comprised of one common share of Orphan Boy
and one non-transferable share purchase warrant ("Warrant"). Each
Warrant entitles Imperial to purchase one additional common share
of Orphan Boy at an exercise price of $0.75 per share on or
before July 4, 2004. Orphan Boy is a reporting company whose
shares are posted and listed for trading on the TSX Venture Stock
Exchange under the trading symbol "ORS".

As a result of this Transaction, Imperial acquired beneficial
ownership of and control over, 800,000 common shares of Orphan
Boy, representing 16.5% of the issued and outstanding common
shares of Orphan Boy as at the completion of the Transaction,
plus 800,000 Warrants entitling Imperial to purchase an
additional 800,000 common shares of Orphan Boy on or before July
4, 2004 at a price of $0.75 per share.

If Imperial exercises the Warrants in full, then Imperial would
beneficially own 1,600,000 common shares, representing 28.3% of
the issued and outstanding shares of Orphan Boy as at the
completion of the Transaction.

The securities were purchased by Imperial for investment purposes
in relation to the acquisition by Orphan Boy of all the issued
and outstanding shares of Bethlehem Resources (1996) Corporation,
previously a wholly owned subsidiary of Imperial. For a copy of
the full report filed in respect of this matter, please contact
Andre Deepwell at 604.488.2666.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Imperial Metals Corporation
Andre Deepwell
Vice President
[phone]
or
Imperial Metals Corporation
Sabine Goetz
Investor Relations
[phone]
Email: [e-mail]
Website: www.imperialmetals.com