IAMGOLD provides mineral resource update for Côté Gold and reports strongest quarter for production in 2012 with

 IAMGOLD provides mineral resource update for Côté Gold and reports strongest
  quarter for production in 2012 with confirmed production guidance for 2013

PR Newswire

TORONTO, Jan. 22, 2013

All amounts are expressed in US dollars, unless otherwise indicated.


TORONTO, Jan. 22, 2013 /PRNewswire/ - IAMGOLD Corporation ("IAMGOLD" or the
"Company") today announced a mineral resource update for its Côté Gold project
in northern Ontario along with the Company's production results for 2012 and
guidance for 2013.

  *The vast majority of the Côté Gold mineral resources are now classified as
    Indicated. The updated resource estimate represents a 114% increase in
    Indicated Resources from the previous estimate.
  *Strong fourth quarter 2012 gold production of 214,000 attributable ounces
    brings total year attributable gold production to 830,000 ounces;
  *An expectation that average total cash costs (including royalties) per
    ounce for 2012 will be around ± 3% of the upper end of the previously
    provided guidance range of $670 to $695 an ounce;
  *2013 gold production is expected to range between 875,000 and 950,000
    attributable ounces, with total cash costs (including royalties) between
    $850 and $925 an ounce;
  *Gold production forecast to grow approximately 80% over the next five
    years to 1.4-1.6 million ounces by 2017;
  *Niobium production of 4.7 million kilograms for 2012;
  *Niobium production for 2013 is expected to range between 4.7 and 5.1
    million kilograms at a margin of between $15 and $17 a kilogram;
  *The conflict in Mali has not disrupted production at the Company`s joint
    venture operations, but exploration activity has been reduced as a

IAMGOLD's President and CEO, Steve Letwin said, "The resource update for Côté
Gold demonstrates significantly higher confidence in both the geological and
gold grade continuity of the deposit and reaffirms our decision to acquire
this project.

"Our gold production in the fourth quarter was the strongest this year",
continued Mr. Letwin, "enabling us to finish 2012 near the lower end of our
guidance. While performance at our IAMGOLD operated mines has been solid, the
underperformance at Sadiola has led us to re-assess our strategy with respect
to our joint venture operations. Over the next five years, the combination of
growth initiatives at our existing mines, the ramp-up to full production at
Westwood and the expected start-up of Côté Gold in 2017 should drive
production up 80% to 1.4-1.6 million ounces."


The mineral resource estimate for Côté Gold was prepared in accordance with
National Instrument 43-101 and incorporates assay results from an additional
85 drill holes (47,325 metres) since the October 4, 2012 estimate. The new
Côté Gold resource estimate consists of an Indicated Resource of 269 million
tonnes averaging 0.88 grams of gold per tonne for 7.61 million ounces and an
Inferred Resource of 44 million tonnes averaging 0.74 grams of gold per tonne
for 1.04 million ounces. The updated resource estimate, based on a cut-off
grade of 0.30 grams of gold per tonne, represents a 114% increase in Indicated
Resources from the previous estimate, also based on a cut-off grade of 0.30
grams of gold per tonne. The updated Côté Gold resource estimate benefited
from the infill drilling that substantially upgraded the quality of the
estimate through conversion of Inferred Resources to Indicated Resources.

A positive attribute of the Côté Gold deposit is its accessibility for
open-pit mining. The deposit locally outcrops at surface and, based on the
extensive drilling program to date, the depth of the barren overburden
averages 5.8 metres.

The mineral resource estimate was carried out by Roscoe Postle Associates Inc.
("RPA") and reported in accordance with National Instrument 43-101
requirements and CIM Estimation Best Practice Guidelines. The resource
estimate was prepared by RPA Associate Principal Geologist Jamie Lavigne,
P.Geo. with geostatistical input and verification provided by Mohan
Srivastava, P.Geo., a consultant with IAMGOLD.

The table below presents the mineral resource at the 0.30 grams of gold per
tonne cut-off as well as at several additional cut-off grades for comparison

                      December 31, 2012
Classification   Cut‐off     Tonnes  Grade     Contained Au
               Grade g/t Au Millions g/t Au Millions of ounces
                   0.25       278     0.86         7.68
  INDICATED        0.30       269     0.88         7.61
                   0.40       244     0.93         7.32
                   0.50       210     1.01         6.83
                   0.25        47     0.71         1.07
   INFERRED        0.30        44     0.74         1.04
                   0.40        36     0.83         0.95
                   0.50        30     0.90         0.88


1.CIM Definitions were followed for classification of Mineral Resources.
2.Mineral Resources are estimated at a cut-off grade of 0.30 g/t Au.
3.Mineral Resources are estimated using a gold price of US$1,600 per ounce
    and metallurgical recovery of 93.5%.
4.High grade assays are capped at 15 g/t Au and 20 g/t Au depending on
5.Bulk density of 2.71 t/m^3 was used for tonalite and breccia and 2.79
    t/m^3 was used for diorite.
6.The Mineral Resource Estimate is constrained within a Whittle Pit shell
    using assumed costs and the above noted gold recovery and gold price
7.Mineral Resources are not Mineral Reserves and do not yet have
    demonstrated economic viability, but are deemed to have a reasonable
    prospect of economic extraction.
8.Numbers may not add due to rounding.
9.Mineral Resources are reported on a 100% basis; IAMGOLD has a 92.5%
    average attributable ownership of this project.

The effective date of this resource estimate is December 31, 2012 and includes
all validated drill results available as at December 31, 2012.This estimate is
based on assay results from a total of 293 diamond drill holes (158,047
metres). Since the completion of the October 4, 2012 estimate, which was based
on 208 diamond drill holes (110,722 metres), a further 85 diamond drill holes
(47,325 metres) were available and validated as at December 31, 2012.
Mineralized wireframes were interpreted and used to constrain grade
interpolation by ordinary kriging.


Attributable gold production for the fourth quarter 2012 was 214,000 ounces,
bringing production for the full year 2012 to 830,000 ounces. Full year
production was slightly below the lower end of the guidance range of 840,000
to 910,000 ounces primarily due to the Company's underperforming joint venture
operations. The Company expects that average total cash costs (including
royalties) per ounce will be around ± 3% of the upper end of the previously
provided guidance range of $670 to $695 an ounce.

      Attributable Gold Production (000s ozs.)
                Q1 2012 Q2 2012 Q3 2012 Q4 2012 2012
IAMGOLD Operator                                
Essakane (90%)        80      81      77      77  315
Rosebel (95%)         93      94      95     100  382
Doyon (100%)           2       2       -       -    4
                    175     177     172     177  701
Joint Ventures                                  
Sadiola (41%)         25      22      26      27  100
Yatela (40%)           7       5       7      10   29
                     32      27      33      37  129
Total                207     204     205     214  830


In 2012, IAMGOLD produced 4.7 million kilograms of niobium at an average
margin of $15 per kilogram, which was within the guidance range of 4.6-5.1
million kilograms at an average margin of between $15 and $17 a kilogram.


Gold Production and Cash Costs

The Company confirms its previously announced gold production guidance of
875,000 to 950,000 attributable ounces for 2013. As in the past, production is
expected to vary from quarter to quarter as a result of such factors as the
rainy season in Suriname in the second quarter and the ramp-up in production
at Westwood throughout 2013.

With the Westwood processing facility on track to begin gold production by the
end of March, and development studies and permitting at Côté Gold expected to
be completed in 2014 followed by a construction start the following year, the
Company confirms its five-year production guidance with gold production
expected to grow by approximately 80% to 1.4 to 1.6 million ounces by 2017.

At the Company's joint venture operations in Mali, which underperformed in
2012, the recent escalation of conflict in the country has not disrupted
production nor has there been any interruption in supply chains. Although it
is business as usual at the Sadiola and Yatela mines operated by the Company's
joint venture partner and which are approximately 1,300 kilometres by road
from the regions of conflict, the Company is reducing its exploration activity
in the region at this time as a precautionary measure.

Total cash costs, including royalties, for 2013 are expected to increase to a
range of between $850 and $925 an ounce. Approximately one third of the
increase in cash costs per ounce is attributed to inflation while another
third reflects the impact of lower ore grades on production costs. The balance
of the expected year-over-year increase is due to both the transition to
harder ore at the Company's mature mines and the higher unit costs at Westwood
attributed to lower production in its first year of operation. The growing
proportion of harder ore drives up stripping ratios and labour costs and
exerts a greater demand on crushing and grinding capacity, which in turn
increases energy consumption and the use of reagents.

Continued Mr. Letwin, "The lower grades of ore, combined with the energy- and
labour-intensive nature of low-gradedeposits, present a cost challenge in our
industry. Whether existing projects or future developments, we have to explore
more innovative ways of curbing cost escalation, and that applies to operating
costs and capital expenditures. Sustaining operational excellence is key, so
the one thing we're changing is the way we benchmark our performance. This has
to be an ongoing process and not a quarterly event. In the ensuing months we
plan to adopt a more broad-based measure of operating efficiency, and to
refine those same cost elements, such as sustaining capital and general and
administrative costs, for inclusion in the calculation of expected rates of
return on our projects."

Guidance for 2013 is based on the following economic assumptions:

  *Average gold price per ounce of $1,700;
  *Average crude oil price per barrel of $95;
  *U.S. dollar value of the Euro of 1.25;
  *Canadian dollar value of the U.S. dollar of $1.00; and
  *Effective tax rate of 38%.

Niobium Production

The Company expects to produce between 4.7 and 5.1 million kilograms of
niobium in 2013 at a margin of between $15 and $17 a kilogram. The operations
at Niobec remain strong.


The Company previously announced that it was reducing its 2013 capital
expenditure forecast due mainly to the delayed approval of the Sadiola
sulphide project and the deferral of capital spending for the Niobec
expansion. The timing of capital spending related to the Niobec expansion
project will be aligned with the advancement of permitting and the outcomes
derived from the completion of the feasibility study in the third quarter of

The Company is providing 2013 capital expenditure forecasts by operation upon
completing a review of the key variables, including economic assumptions,
incorporated in the life of mine plans and feasibility studies. As such, the
Company`s 2013 capital spending forecasts for Westwood and Essakane are $100
million and $300 million, respectively. The forecast for Rosebel will be
provided upon completion of the feasibility study, expected by the end of the
first quarter 2013, and the Sadiola sulphide project is undergoing a strategy
review. The Company is forecasting $80 million for capital spending at Niobec
in 2013 for mine development, sustaining capital and the expansion feasibility
study ($20 million).


The Company's planned exploration spend for 2013 is $142 million, with
approximately 54% earmarked for greenfield exploration, including ongoing
exploration and feasibility work at the Côté Gold project. The modest
reduction in the 2013 forecast from that of the previous year is due to
reduced exploration activities in West Africa. The Company plans to carry out
significant resource development programs at its Rosebel, Essakane and Niobec
mines as well as at the Westwood development project, scheduled to begin
production at the end of the first quarter 2013.


IAMGOLD will report its fourth quarter and year-end financial and operating
results on February 20, 2013. The release of the Company's 2012 Mineral
Reserves and Resources Statement is expected to be completed in February.

Qualified Persons
The Côté Gold mineral resource estimate for the Côté Gold Project has been
carried out by Jamie Lavigne, P.Geo., Associate Principal Geologist with RPA,
an independent qualified person under NI 43-101, including the verification of
the data disclosed, and the review and approval of the contents of this
release. Marie-France Bugnon, P.Geo., General Manager, Exploration, Canada,
for IAMGOLD, a Qualified Person under NI 43-101, has supervised the collection
of scientific or technical information for the property. Craig MacDougall,
P.Geo., Senior Vice President, Exploration, for IAMGOLD, a Qualified Person
under NI 43-101, has also reviewed and approved the contents relating to the
scientific and technical disclosure of this release.

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.


IAMGOLD (www.iamgold.com) is a leading mid-tier gold producer with five
operating gold mines (including current joint ventures) on three continents.
In the Canadian province of Québec, the Company also operates Niobec Inc., one
of the world's top three producers of niobium, and owns a rare earth element
resource close to its niobium mine. IAMGOLD is well positioned for growth 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 

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



Bob Tait,VP, Investor Relations, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (647) 403-5520

Laura Young, Director, Investor Relations, IAMGOLD Corporation
Tel: (416) 933-4952 Mobile: (416) 670-3815

Toll-free: 1-888-464-9999info@iamgold.com
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