IM Exploration Commences Preparatory Work for Mulloy Project

TORONTO, July 3, 2019 /CNW/ - IM Exploration Inc. (CSE: IM) (the "Company") is pleased to announce advancements made on the preparatory work necessary to conduct an exploration program at its Mulloy Graphite Project (the "Property").

In order to facilitate geophysical work expected to consist of magnetic and electromagnetic surveys, and a subsequent limited drilling program, the Company has applied to the Ontario Ministry of Energy, Northern Development and Mines to obtain an Early Exploration Plan/Permit covering the entire Property.

The Company has also utilized banked work credits to extend, until August 13, 2020, all of the cells comprising the Property, at no extra cost to the Company.

Finally, the Company announces that pursuant to its Stock Option Plan, the Company has granted incentive stock options ("Options") to acquire an aggregate of 100,000 common shares to a consultant of the Company at an exercise price of $0.10 each. The Options have a term of 5 years and vest immediately.

About IM Exploration Inc.
The Company is a mineral exploration and development company focused on exploring its Mulloy Graphite Property in Northern Ontario.

Caution Regarding Forward-Looking Information
This news release contains statements and information that, to the extent they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions and estimates of management with respect to the Company's exploration program, made based on experience and management's perception of trends, current conditions and expected developments, all of which management believes to be reasonable in the circumstances at the date hereof, but which may ultimately prove to be incorrect. Forward-looking information herein includes statements relating to the Company's proposed exploration program at the Property.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the outcomes expressed or implied by the forward-looking information herein, including, but not limited to, obtaining governmental permits to facilitate exploration of the Property, and risks associated with mineral exploration. Accordingly, readers should not place undue reliance on any such forward-looking information. The Company does not undertake any obligation to update any forward-looking information herein to reflect new developments after the date hereof, except as required by applicable securities legislation.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE IM Exploration Inc.

Joel Freudman, President and Chief Executive Officer, Tel: [phone]