Doyon Division - Westwood

IAMGOLD Corp. updated the reserve and/or resource estimates for Doyon Division - Westwood, Canada.

IAMGOLD reported on opeations at the Doyon Division in Quebec, Canada for 2009. Gold production at the Doyon Division (Mouska and Doyon Mines) declined in 2009 compared to 2008. The decline in production reflects the expected reduction in tonnage mined as the Doyon Mine was closed in December 2009. In the fourth quarter of 2009, IAMGOLD approved a program to extend the life of the Mouska Mine into early 2012 at reduced rates. Cash costs per ounce were 4% lower in 2009 compared to 2008, due to higher gold grades, lower royalties (resulting from the acquisition of a participation royalty), and favourable movement in the Canadian dollar.

IAMGOLD announced positive results from an updated Preliminary Assessment Study on the Westwood project Québec, Canada. The results of the study support production in early 2013, averaging about 191,000 ounces of gold per year over the first 5 years of operation at an average diluted grade of 7.3 g/t gold, with cash costs averaging $352 per ounce. Over a projected mine life of 16 years, based on current resources, the project will produce an average of 186,000 ounces of gold annually at an average cash cost of $358 per ounce.