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Last updated on April 25, 2014 at 1:22 EDT

IAMGOLD Provides Exploration Update for Cote Gold Project

September 5, 2012

TSX: IMG    NYSE: IAG

TORONTO, Sept. 5, 2012 /PRNewswire/ – IAMGOLD Corporation (“IAMGOLD” or the “Company”) announced today an exploration update for
its northern Ontario Côté Gold Project, including recent assay results
from 24 diamond drill holes completed as part of the ongoing resource
delineation and expansion drilling program.  Drilling continues to
intersect wide intervals of low to moderate grade gold mineralization
both within and adjacent to the currently defined mineral resources.

Results from the 24 drill holes are provided in Table 1, and include the
following:

        --  Drill hole E12-190: 236.5 metres grading 1.61 g/t gold (uncut),
            1.49 g/t gold (cut)

        --  Drill hole E12-192: 383.0 metres grading 1.54 g/t gold (uncut),
            1.07 g/t gold (cut)

        --  Drill hole E12-205: 454.0 metres grading 1.46 g/t gold (uncut),
            0.91 g/t gold (cut)

Stephen Letwin, President and Chief Executive Officer of IAMGOLD, said,
“The Côté Gold project continues to meet our expectations. These are
the kind of results that reinforce our view that we’ve acquired a
promising property. We are working aggressively to upgrade a
significant portion of the inferred mineral resources to an indicated
category by year end and to advance the project to the pre-feasibility
stage. As we’ve said before, this project rebalances our portfolio so
that one-third of our resource base is in North America and close to
95% of our future production is expected to come from mines we own and
operate.”

Since the completion of the most recent estimate (February 24, 2012),
based on 129 diamond drill holes (65,866 metres), a further 189 diamond
drill holes (109,689 metres) have been completed, bringing the total to
318 holes (175,555 metres). Assay results have been reported for 210
diamond drill holes (111,505 metres), including those from the 24 drill
holes (20,368 metres) reported in this news release. Drilling continues
with the objective of completing a 70,000 to 85,000 metre drilling
program by year end.

Craig MacDougall, Senior Vice President, Exploration, stated, “We’ve
been very active at the site with 12 drill rigs running, and since the
most recent estimate have more than doubled the number of metres
drilled. The ongoing resource delineation and expansion drilling
program continues to deliver strong results, both within and adjacent
to the current resource model.”

Next Steps

The objective of the 70,000 to 85,000 metre diamond drilling program
currently in progress is to: 1) infill the current resource to better
constrain continuity in the geological model and convert a significant
portion of the current inferred resources to an indicated category, and
2) expand the existing resource base with step out drill holes along
strike to the northeast as well as at depth below the current
resources.

A revised NI 43-101 resource estimate is in progress and planned for
completion in October. This estimate will include all validated drill
results as at August 1, 2012. This will be followed by a further
resource update as part of the Company’s annual year-end Mineral
Reserves and Resources statement which is expected to include all
validated drill results in hand on October 1, 2012.

A pre-feasibility study for this project is also expected to get
underway by the fourth quarter of 2012.

IAMGOLD acquired a 92.5% beneficial interest in the Côté Gold deposit
through its acquisition of Trelawney Mining and Exploration Inc.
(“Trelawney”) on June 21, 2012. The acquisition included interests in
an extensive land holding totaling approximately 520 square kilometres
surrounding the deposit.  Current mineral resources for the Côté Gold
deposit, announced on February 24, 2012 by Trelawney, are estimated at
35 million tonnes grading 0.82 g/t gold for 0.93 million ounces of
indicated resources and 204 million tonnes at 0.91 g/t gold for 5.94
million ounces of inferred resources. Mineralization, which has been
intersected over a strike length of 1,200 metres, a horizontal width of
100 – 300 metres and a depth extent of more than 500 metres, consists
of low to moderate grade gold associated with weak disseminated
sulphides (pyrite, pyrrhotite and chalcopyrite) hosted within a
variably altered and brecciated intermediate to felsic intrusive
complex.

Table 1

     ___________________________________________________________________________
    |   Côté Gold Project Drilling Results from 24 Drill Holes (20,368 metres)  |
    |___________________________________________________________________________|
    |Hole #   |Grid Location   |AZ   |DIP|EOH|From  |To    |Length|Gold  |Gold  |
    |         |                |     |   |   |      |      |      |(g/t) |(g/t) |
    |_________|________________|_____|___|___|______|______|______|______|______|
    |         |Easting|Northing|(utm)|   |(m)|(m)   |(m)   |(m)   |uncut |cut to|
    |         |       |        |     |   |   |      |      |      |      |25g/t*|
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-187  |9250   |10225   |NA   |NA |15 |Abandoned           |      |      |
    |_________|_______|________|_____|___|___|____________________|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-188  |8950   |9750    |150  |-76|449|33.00 |35.00 |2.00  |1.48  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |215.00|217.00|2.00  |3.26  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-189  |9250   |10275   |336  |-42|521|No Significant      |      |      |
    |         |       |        |     |   |   |Results             |      |      |
    |_________|_______|________|_____|___|___|____________________|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-190  |9050   |10100   |152  |-73|627|377.00|613.50|236.50|1.61  |1.49  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-191  |9550   |10030   |336  |-46|543|67.00 |71.00 |4.00  |0.75  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |211.00|251.00|40.00 |1.57  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-192  |8850   |9950    |153  |-76|587|22.85 |24.00 |1.15  |11.44 |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |89.00 |91.00 |2.00  |2.30  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |204.00|587.00|383.00|1.54  |1.07  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |204.00|489.00|285.00|1.91  |1.28  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-193  |9600   |10425   |149  |-52|734|346.95|355.90|8.95  |2.07  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |387.85|393.00|5.15  |1.17  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |438.80|442.00|3.20  |2.49  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |634.00|656.00|22.00 |0.93  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-194  |8750   |10000   |158  |-76|793|17.00 |96.00 |79.00 |0.50  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |123.00|129.00|6.00  |0.67  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |245.00|649.00|404.00|0.97  |0.85  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |380.80|458.00|77.20 |2.50  |1.91  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |709.00|722.00|13.00 |0.55  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-195  |9250   |10275   |333  |-53|456|No Significant      |      |      |
    |         |       |        |     |   |   |Results             |      |      |
    |_________|_______|________|_____|___|___|____________________|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-196  |8950   |10000   |153  |-74|768|248.00|261.00|13.00 |0.70  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |382.30|501.00|118.70|0.66  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |530.70|657.05|126.35|0.65  |0.64  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-197  |9100   |9925    |153  |-48|327|56.00 |57.00 |1.00  |9.52  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |88.00 |212.00|124.00|1.19  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |299.00|325.00|26.00 |1.05  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-198  |9600   |10350   |152  |-52|653|223.00|242.00|19.00 |1.55  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |584.00|653.00|69.00 |1.70  |0.92  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-199  |9450   |10300   |336  |-50|115|76.00 |78.00 |2.00  |4.53  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |Abandoned at 115m   |      |      |
    |_________|_______|________|_____|___|___|____________________|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-200  |9550   |10050   |333  |-61|581|53.40 |57.00 |3.60  |2.08  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |544.00|545.00|1.00  |10.67 |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-201  |8950   |10050   |152  |-74|542|212.00|217.00|5.00  |2.97  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |276.70|280.70|4.00  |2.04  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |369.80|363.40|3.60  |2.53  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |487.60|541.50|53.90 |0.69  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-202  |9050   |10175   |150  |-45|387|304.00|311.60|7.60  |1.25  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |355.90|375.00|19.10 |1.43  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-203  |8850   |9950    |146  |-68|638|163.00|543.00|380.00|0.90  |0.83  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |224.00|346.40|122.40|1.51  |1.27  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |619.60|623.00|3.40  |1.34  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-204  |9450   |10300   |334  |-54|466|No Significant      |      |      |
    |         |       |        |     |   |   |Results             |      |      |
    |_________|_______|________|_____|___|___|____________________|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-205  |8750   |9925    |147  |-73|673|139.00|593.00|454.00|1.46  |0.91  |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |139.00|175.00|36.00 |1.57  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |187.00|232.01|45.01 |1.63  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |276.12|277.00|0.88  |312.65|25.00 |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-206  |9700   |10350   |158  |-51|497|222.00|224.00|2.00  |2.64  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-207  |9450   |10340   |333  |-53|492|55.00 |58.00 |3.00  |1.01  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |69.00 |71.00 |2.00  |1.19  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-208A |9550   |9990    |327  |-61|808|1.30  |18.00 |16.70 |1.18  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |662.00|663.00|1.00  |21.85 |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |685.00|686.00|1.00  |52.67 |25.00 |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-209  |9700   |10400   |151  |-50|804|633.00|775.00|142.00|0.93  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |         |       |        |     |   |   |      |      |      |      |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |E12-210  |8850   |10000   |154  |-77|692|304.80|653.00|348.20|0.64  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |304.80|517.00|212.20|0.78  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |563.00|564.95|1.95  |3.16  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
    |Including|       |        |     |   |   |599.30|606.00|6.70  |2.16  |      |
    |_________|_______|________|_____|___|___|______|______|______|______|______|
        --  True widths of intersections are unknown at this time.
        --  *Only intervals with assays cut to 25 g/t gold are shown.
        --  Reported composite intervals are graded with a lower cut of
            0.30 g/t Au and may contain lower grade material and waste of
            up to 20 metres in length.

To view “Figure 1: Drill Hole Plan Map”, please click on http://files.newswire.ca/396/DrillHoleMap.pdf

Technical Information and Quality Control Notes
The drilling results contained in this news release have been prepared
in accordance with National Instrument 43-101 Standards of Disclosure
for Mineral Projects (“NI 43-101″). The sampling of, and assay data
from, drill core is monitored through the implementation of a quality
assurance – quality control (QA-QC) program designed to follow industry
best practice.  Drill core (NQ size) samples are selected by the
IAMGOLD geologists and sawn in half with a diamond saw at the project
site. Half of the core is retained at site for reference purposes. 
Sample intervals are generally 1.0 metre in length or less at the
discretion of the geologist. Samples are transported in security sealed
bags to the Accurassay prep lab facility in Sudbury, Ontario.  Samples
are coarse crushed to a -8 mesh and then a 1000 gram split is
pulverized to 90% passing -150 mesh.  Analytical pulps are forwarded
for analysis at the Accurassay Analytical Laboratory (ISO / IEC 17025
Certified by the Standards Council of Canada) in Thunder Bay Ontario.
Samples are analyzed using a standard fire assay with a 30 gram charge
with an Atomic Absorption (AA) finish. For samples that return assay
values between 2.0 to 5.0 grams per tonne (g/t), another pulp is taken
and fire assayed with a gravimetric finish. Samples which have returned
values greater than 5.0 g/t are re-analyzed by pulp metallic analysis. 
Occasionally, drill hole results are reported with only the original
fire assay data.In addition to quality assurance controls implemented
and reported by the laboratory, IAMGOLD inserts blanks and certified
reference standards into the sample stream at random intervals to
enable validation of the assay data.

For complete disclosure of the Côté Gold mineral resource estimate
prepared for Trelawney Mining and Exploration refer to the Technical
Report on the Côté Lake Resource Update, Chester Property, Ontario,
Canada reported in accordance with National Instrument 43-101
requirements, signed by W. Roscoe and B. Cook, Roscoe Postle Associates
Inc., effective February 24, 2012.

Mineral resource estimates are reported in accordance with the CIM
definitions.

Investors are cautioned that mineral resources are not mineral reserves
and do not have demonstrated economic viability.

Qualified Persons:
The quality control, technical information and all aspects of the
ongoing exploration program are supervised and verified by Jay Jackson,
P. Geo, District Geologist and Marie-France Bugnon, P.Geo., General
Manager Exploration, Canada, both of IAMGOLD. The information in this
release was prepared under the supervision of Craig MacDougall, P.Geo.,
Senior Vice President, Exploration for IAMGOLD and has been reviewed
and approved by Mr. Jackson and Ms. Bugnon. Mr. Jackson, Ms. Bugnon and
Mr. MacDougall are all Qualified Persons as defined by National
Instrument 43-101.

Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission limits disclosure
for U.S. reporting purposes to mineral deposits that a company can
economically and legally extract or produce.  IAMGOLD uses certain
terms in this presentation, such as “measured,” “indicated,” or
“inferred,” which may not be consistent with the reserve definitions
established by the SEC. U.S. investors are urged to consider closely
the disclosure in the IAMGOLD Annual Reports on Forms 40-F.  You can
review and obtain copies of these filings from the SEC’s website at
http://www.sec.gov/edgar.shtml or by contacting the Investor Relations department.

Forward Looking Statement

This news release contains forward-looking statements. All statements,
other than of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements
regarding expected, estimated or planned gold and niobium production,
cash costs, margin expansion, capital expenditures and exploration
expenditures and statements regarding the estimation of mineral
resources, exploration results, potential mineralization, potential
mineral resources and mineral reserves) are forward-looking statements.
Forward-looking statements are generally identifiable by use of the
words “may”, “will”, “should”, “continue”, “expect”, “anticipate”,
“outlook”, “guidance”, “estimate”, “believe”, “intend”, “plan” or
“project” or the negative of these words or other variations on these
words or comparable terminology. Forward-looking statements are subject
to a number of risks and uncertainties, many of which are beyond the
Company’s ability to control or predict, that may cause the actual
results of the Company to differ materially from those discussed in the
forward-looking statements.  Factors that could cause actual results or
events to differ materially from current expectations include, among
other things, without limitation: changes in the global prices for
gold, niobium, copper, silver or certain other commodities (such as
diesel, aluminum and electricity); changes in U.S. dollar and other
currency exchange rates, interest rates or gold lease rates; risks
arising from holding derivative instruments; the level of liquidity and
capital resources; access to capital markets, financing and interest
rates; mining tax regimes; ability to successfully integrate acquired
assets; legislative, political or economic developments in the
jurisdictions in which the Company carries on business; operating or
technical difficulties in connection with mining or development
activities; laws and regulations governing the protection of the
environment; employee relations; availability and increasing costs
associated with mining inputs and labour; the speculative nature of
exploration and development, including the risks of diminishing
quantities or grades of reserves; adverse changes in the Company’s
credit rating; contests over title to properties, particularly title to
undeveloped properties; and the risks involved in the exploration,
development and mining business. With respect to development projects,
IAMGOLD’s ability to sustain or increase its present levels of gold
production is dependent in part on the success of its projects.  Risks
and unknowns inherent in all projects include the inaccuracy of
estimated reserves and resources, metallurgical recoveries, capital and
operating costs of such projects, and the future prices for the
relevant minerals.  Development projects have no operating history upon
which to base estimates of future cash flows. The capital expenditures
and time required to develop new mines or other projects are
considerable, and changes in costs or construction schedules can affect
project economics.  Actual costs and economic returns may differ
materially from IAMGOLD’s estimates or IAMGOLD could fail to obtain the
governmental approvals necessary for the operation of a project; in
either case, the project may not proceed, either on its original timing
or at all.

About IAMGOLD

IAMGOLD (www.iamgold.com) is a leading mid-tier gold mining company producing approximately one
million ounces annually from five gold mines (including current joint
ventures) on three continents. In the Canadian province of Québec, the
Company also operates Niobec Inc., which produces more than 4.5 million
kilograms of niobium annually, and owns a rare earth element resource
close to its niobium mine. IAMGOLD is uniquely positioned with a strong
financial position and extensive management and operational
expertise. To grow from this strong base, IAMGOLD has a pipeline of
development and exploration projects and continues to assess accretive
acquisition opportunities. IAMGOLD’s growth plans are strategically
focused in certain regions in Canada, select countries in South America
and Africa.

Please note:

This entire news release may be accessed via fax, e-mail, IAMGOLD’s
website at www.iamgold.com and through CNW Group’s website at www.newswire.ca. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.

Si vous désirez obtenir la version française de ce communiqué, veuillez
consulter le http://www.iamgold.com/French/Home/default.aspx.

SOURCE IAMGOLD Corporation


Source: PR Newswire