BUCKREEF/RWAMAGAZA (PROSPECTING L)

IAMGOLD announced an increase in the mineral resources at the company’s Buckreef project, located in the Lake Victoria Goldfields of northern Tanzania. Recent drill campaigns within the Minzwel-Busolwa trend have resulted in the addition of 86,000 ounces of gold to the inferred resource category.

Announced an exploration update. Since July 2007, an additional thirty-five reverse circulation holes and one diamond drill hole, totalling 3,348 metres, have been completed on the 10km-long Minzwel-Bukoli zone. Detailed drilling on a close spaced drill pattern shows a strong gold mineralized system with a strike length over 500 metres. Drill intercepts below the saprolite show gold mineralization extending into unweathered rock with numerous significant intercepts over core lengths of up to 10 metres. The high grade nature of the Minzwel-Bukoli Trend has the potential to significantly improve the economic viability of the Buckreef project. Highlights of the intercepts in oxide material include the following and all drill intervals are within 70 metres of surface: • MWNR044 9 m grading 6.40 g/t Au • MWNR044 24 m grading 6.35 g/t Au • MWNR047 21 m grading 6.81 g/t Au • MWNR050 3 m grading 8.14 g/t Au • MWNR056 22 m grading 7.51 g/t Au • MWNR098 23 m grading 6.79 g/t Au • MWNR099 11 m grading 3.62 g/t Au • MWNR110 4 m grading 6.01 g/t Au • MZDD001 24.8 m grading 13.72 g/t Au

RC drilling on early stage regional targets outside the known resources continued, and was actively developing new targets for evaluation. In parallel, metallurgical work was initiated to determine the leach characteristics of material comprising the known resources. An internal review of project economics is ongoing and a related scoping document is currently being revised as more information is provided. The objective is to progress the project to pre-feasibility status once positive economics are established.