The North Cariboo Air de Havilland DHC-8-300, registration C-GAQN, operating as flight NCB2020, was nearing 14 000 feet, on climb out of Calgary on April 15, when the crew observed a noise, followed by a yaw. Believing a loss of power had occurred, the crew completed the memory items for an engine failure en route. After observing all engine parameters to be normal the crew elected not to perform an engine shutdown, and the flight returned to Calgary without further incident. Maintenance inspection determined that an impeller blade on the right engine (Pratt & Whitney – Canada PW123) was bent and there was evidence of ice within in the inlet cowl. The right engine will be replaced and a company SMS investigation into the incident is underway.