YATELA

IAMGOLD's attributable gold production for 2009 at the Yatela Mine in Mali increased 35% compared to 2008 due to a higher gold grade from ore stacked in prior periods. Cash cost per ounce was lower in 2009 compared to 2008 primarily as a result of increased production. Improvements in mining costs were also realized following the engagement of a new mining contractor in late 2008.

IAMGOLD Corporation provide a third quarter update on exploration activities. Exploration expenditures totalling $56 million are now planned for 2009 of which US$36 million is for greenfield exploration initiatives. At Rosebel, a 90,000 metre exploration program on schedule with 80% of drilling now complete with revised resource and mine design updates in progress. The Sadiola/Yatela 18-month, US$14.9 million exploration program is on schedule and a supplementary US$2.2 million capitalized exploration budget has been approved following encouraging results at Yatela, extensions of the mineralization at Alamoutala Pit, and exploration targets north of Yatela.

Iamgold reported gold production decreased in the first quarter of 2009 as a result of lower gold stacked in the prior periods compared to the same period in 2008. The higher grades of ore stacked during this current quarter will report as gold production in later periods. Mine production (including capitalized waste) and the strip ratio were lower during the current quarter compared to the first quarter of 2008 primarily due to lower waste stripping required as fresh ore was exposed in the Yatela push back during the fourth quarter of 2008. Gold stacked increased in the current quarter primarily due to higher gold grades, offset to some extent by lower ore crushed as a result of lower equipment availability. Gold grades were higher during the quarter as higher grade fresh ore was mined and crushed, compared with lower grade marginal ore crushed in the prior year quarter. Ore crushed was lower during the quarter as a result lower equipment availability. Cash costs were higher during the first quarter of 2009 compared to the first quarter of 2008 as a result of lower gold production and higher waste costs expensed in the current year. Waste capitalization ceased during the fourth quarter of 2008 as the ore body was accessed. Since November 2008, all waste stripping costs are being expensed and amortization of capitalized stripping costs from prior periods is being recorded.