IAMGOLD definitive agreement with Government of Suriname approved by National Assembly

IAMGOLD definitive agreement with Government of Suriname approved by National

PR Newswire

TORONTO, April 15, 2013


TORONTO, April 15, 2013 /PRNewswire/ - IAMGOLD Corporation ("IAMGOLD" or the
"Company") announced on November 26, 2012 that it had reached a definitive
agreement (the "Agreement") with the Government of the Republic of Suriname
(the "Government") addressing future resource development and related power
costs. On April 13, 2013, the Agreement was approved by the legislative
authority of Suriname, the National Assembly. The Agreement will, once
executed, amend the existing Mineral Agreement regarding the Company's Rosebel
mine in Suriname.

IAMGOLD President and CEO, Steve Letwin, said, "The approval of this Agreement
by Suriname's National Assembly validates the work over the last year and half
by the Government and IAMGOLD to ensure a longer and stronger future for the
Rosebel mine for the mutual benefit of the people of Suriname and the
shareholders of the Company. Access to new concessions creates ample
opportunity to add to the life of the Rosebel Gold Mine and to find softer ore
which can be processed at lower cost. The lower rate for power brings more
gold mineral resources into economic viability for the mutual benefit ofour
shareholders and the people of Suriname. The Agreement reflects a true
spirit of partnership between the Government and the Company."

With this Agreement, IAMGOLD will maintain all of its existing entitlements in
the Rosebel operations and in the Gross Rosebel exploitation concession and
will extend the term of its existing Mineral Agreement by 15 years to 2042.
The Agreement will further establish a new joint venture growth vehicle (the
"JV") under which Rosebel would hold a 70% participating interest and the
Government will acquire a 30% participating interest on a fully-paid basis.

The Agreement will provide up to 300 x 10^6 kWh per year of additional power
at a cost of 11 cents per kilowatt hour, which will apply to any production
from the joint venture area. The JV area has been defined as a circular area
extending 45 kilometres from the Rosebel mill, but excluding the Gross Rosebel
concession, for a net JV area of approximately 6,190 km^2. The JV will be
entitled to convert an additional 20,000 hectares or 200 km^2 to new rights of
exploitation within the joint venture area, on a simplified and expedited
basis, for processing at Rosebel. Under the terms of the Agreement all
future production from the joint venture area will be allocated to the JV on a
100% basis.

The JV will also allow both Rosebel and the Government to share on the same
basis as above in any further significant expansion at Rosebel. Rosebel,
which is also evaluating the expansion of its gold plant throughput capacity
from 12 million to 14 million milled tonnes per annum, is planning to
undertake a feasibility study on the potential for a further significant
expansion which, if approved, the Government will have the right to acquire an
interest through the JV at fair market value. Rosebel will be entitled to
proceed with the expansion on its own if the Government does not participate
through the JV, and in either case will have access to the lower cost power
rate for the expansion.

The Government recognizes the importance of lower cost power to Rosebel for
its existing base capacity in light of the transition to hard rock material.
With negotiations of the definitive agreement concluded, discussions with the
Government on lower power costs for that base capacity will be pursued as a
priority in 2013.

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 six
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
on certain regions in Canada and 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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