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IAMGOLD Corp.

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Summary

Project:

Boto

Deposit:Boto
Location:Senegal
Commodities:Gold
Date:10/22/2018
Report Code:NI43-101
Report Type:Feasibility Study
Project Stage:Pursuing Resource Increase/Upgrade
Report details:22-10-2018: IAMGOLD Corp. announces a Feasibility Study report for its Boto deposit at the Boto project. Feasibility study results incl. NPV (6%) of $261M, IRR of 23%, 3.4 year payback. Toronto, Ontario, October 22, 2018 – IAMGOLD Corporation (“IAMGOLD” o
Resources:(Reserve, Prob.): 35.06Mt @ 1.71g/t Au for 1.9Moz Au contained
CP/QP:[Resources]: P. Daigle (AGP Mining Consultants Inc.)
ABSTRACT:Toronto, Ontario, October 22, 2018 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today announced positive results from a Feasibility Study ("FS") for its Boto Gold Project (the “Project”) in Senegal, West Africa. The results outline an economically robust project with an anticipated low cost of production and long operating life. The FS demonstrates a significant economic and operational improvement compared to the Pre-feasibility Study (“PFS”) results announced in February of this year. The FS will be used to support an application for a mining concession in the fourth quarter of 2018. Steve Letwin, President and CEO of IAMGOLD, said “Boto Gold has evolved from a grass roots exploration discovery to a robust development project with nearly 2 million ounces in reserves. I congratulate the team for their success in improving the project economics by as much as they have. The 23% after-tax IRR and the 151% increase in the NPV at a lower gold price assumption are marked improvements from those reported in the pre-feasibility study. This is a solid, low-cost project which is expected to deliver 140,000 ounces annually, on average, for nearly 13 years. While a final investment decision is yet to be made, and there is still permitting work to be done, we’re looking at a high-value project that adds to IAMGOLD’s already impressive growth profile.” The FS was completed jointly by IAMGOLD and Lycopodium Minerals Canada Ltd (“Lycopodium”), with inputs from technical studies completed by Specialist Consultants. The FS represents a comprehensive study of the technical and economic viability of a mineral project that has advanced to a stage where a preferred mining method is established and an effective method of mineral processing is determined.

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