IAMGOLD Corporation

Published : February 01st, 2016

IAMGOLD provides update on life-of-mine plans

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IAMGOLD provides update on life-of-mine plans

TITLE - ALL CAPITAL



TSX: IMG NYSE: IAG


NEWS RELEASE


IAMGOLD PROVIDES UPDATE ON LIFE-OF-MINE PLANS


Toronto, Ontario, January 19, 2016 - IAMGOLD Corporation ("IAMGOLD" or the "Company") today provided an update on its life-of-mine ("LOM") plans for its wholly-owned mines: Rosebel, Essakane and Westwood, which has the potential to be our highest grade, lowest cost and longest life mine. A presentation has been posted on the IAMGOLD website at www.iamgold.com outlining the assumptions and forecasts in the mine plans.


"We have significantly improved our outlook for our owner-operated mines," said Steve Letwin, President and CEO of IAMGOLD. "Our mining teams have worked hard to reduce costs, optimize their operations and improve productivity. Their efforts are mitigating the impact of lower gold prices and the transition to harder rock at our open pit mines. Using conservative assumptions, we believe these plans will enable the company to meet its financial obligations and be well positioned to take advantage of higher gold prices.

CONFERENCE CALL

A conference call and presentation will be held on Tuesday, January 19 2016, from 9:00 to 11:00 a.m. (Eastern Standard Time) for a discussion with management regarding Westwood and the LOM plans listed above. The slides related to the conference call will be available through IAMGOLD`s website www.iamgold.com.


Conference Call Information: North America Toll-Free: 1-800-319-4610 or 1-604-638-5340.


CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

All information included in this news release, including any information as to the Company's future financial or operating performance, and other statements that express management's expectations or estimates of future performance, other than statements of historical fact, constitute forward looking information or forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. For example, forward-looking statements contained in this news release include, without limitation, statements with respect to: the Company's guidance for production, total cash costs, all-in sustaining costs, depreciation expense, effective tax rate, capital expenditures, operations outlook, cost management initiatives, development and expansion projects, exploration, the future price of gold, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, the timing and amount of estimated future production, costs of production, permitting timelines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Forward-looking statements are generally identifiable by, but are not limited to the use of the words "may", "will", "should", "continue", "expect", "estimate", "plan", "guidance", "outlook", "potential", "strategy" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that reliance on such forward-looking statements involve risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of IAMGOLD to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements, and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to, changes in the global prices for gold, copper, silver or certain other commodities (such as diesel, 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, and financing; 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 the price of gold, 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.

For a more comprehensive discussion of the risks faced by the Company, and which may cause the actual financial results, performance or achievements of IAMGOLD to be materially different from the company's estimated future results, performance or achievements expressed or implied by forward-looking information or forward-looking statements, please refer to the Company's latest Annual Information Form, filed with Canadian securities regulatory authorities at www.sedar.com, and filed under Form 40-F with the United States Securities Exchange Commission at www.sec.gov/edgar.shtml. The risks described in the Annual Information Form (filed and viewable on www.sedar.com and www.sec.gov/edgar.shtml, and available upon request from the Company) are hereby incorporated by reference into this news release.


The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law.


About IAMGOLD

IAMGOLD (www.iamgold.com) is a mid-tier mining company with four operating gold mines on three continents. A solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of accretive acquisition opportunities. IAMGOLD is in a strong financial position with extensive management and operational expertise.

For further information please contact:


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: 1-888-464-9999 [email protected]


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 www.sec.gov.


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


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IAMGOLD Corporation

PRODUCER
CODE : IMG.TO
ISIN : CA4509131088
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IAMGOLD is a gold producing company based in Canada.

IAMGOLD produces gold, diamonds, lead, niobium, rare earth, silver and zinc in Botswana, in Canada, in Ecuador, in Ghana, in Guyana, in Indonesia, in Mali, in Peru, in South Africa, in Suriname and in Tanzania, develops gold in Burkina Faso, in Ecuador and in French Guyana, and holds various exploration projects in Canada, in Ecuador, in Honduras, in Mali, in Peru and in South Africa.

Its main assets in production are OMAI MINE in Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, NIOBEC, DOYON and GRAND DUC in Canada, YATELA and SADIOLA in Mali, MUPANE in Botswana, DAMANG PROJECT, TARKWA and TEBEREBIE in Ghana, ROSEBEL in Suriname, ZARUMA in Ecuador, TAMBORAQUE in Peru, ARDO MINE in South Africa, BUCKREEF in Tanzania and RAWAS GOLD PROJECT in Indonesia, its main assets in development are ESSAKANE in Burkina Faso, CAMP CAIMAN in French Guyana and QUIMSACOCHA PROJECT in Ecuador and its main exploration properties are TEX-SOL, LESPERANCE, CREVIER and WESTWOOD in Canada, BAMBADJI in Senegal, ALAMOUTALA (SADIOLA II) and SIRIBAYA in Mali, GILT EDGE MINE & ANCHOR HILL in Ecuador, PODEROSA MINE in Peru and VUELTAS DEL RIO / EL ZAPOTAL in Honduras.

IAMGOLD is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.8 billions as of today (US$ 1.4 billions, € 1.3 billions).

Its stock quote reached its highest recent level on April 28, 2006 at CA$ 9.98, and its lowest recent point on July 24, 2015 at CA$ 1.50.

IAMGOLD has 464 620 000 shares outstanding.

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9/19/2011Reports New Drill Results and is o =?ISO-8859-1?Q?n=20Schedu...
7/14/2011Files Final Base Shelf Prospectus for Renewal of Existing Fa...
7/13/2011(Doyon)Reports Incident at Doyon Division
6/30/2011Files Preliminary Base Shelf Prospectus for Renewal of Exist...
6/15/2011Announces Further Investment in Avnel
6/9/2011Announces Current Merrex Investment
5/4/2011(Niobec)Independent Technical Report Confirms IAMGOLD's Niobium Mine...
4/15/2011(Damang Project)To Sell Its Interest in Tarkwa and Damang Mines in Ghana for...
3/13/2011Signs Memorandum of Understanding With China Gold
3/8/2011Receives PDAC's 2011 Environmental and Social Responsibility...
2/25/2011=?ISO-8859-1?Q?IAMGOLD=20Reports=20Record=20Production,=20Re...
4/1/2010Form 40-F Filed on EDGAR
1/25/2010Focus on Organic Growth Yields Results; Year-End Gold Reserv...
1/21/2010Delivers on 2009 Guidance; Provides 2010 Operating Outlook
1/4/2010CEO to Step Down Effective January 15, 2010
12/11/2009Declares Ninth Consecutive Annual Dividend
12/10/2009Confirms Plane Crash Near Niobec
1/29/2009Announces 2008 Gold Production of 997,000 ounces and Provide...
12/31/2008Final Results of Re-Opened Tender Offer for Euro Ressources:...
12/23/2008Options Merrex Gold's Siribaya Gold Project in Mali and Conf...
12/15/2008Declares Eighth Consecutive Annual Dividend
12/15/2008Completes Sale of the Sleeping Giant Mine and Confirms Equit...
12/11/2008and Orezone Announce Business Combination
12/5/2008and Early Warning Report
12/3/2008Offer for Euro Ressources Successful IAMGOLD Owns 71.6% of E...
11/19/2008Euro Ressources? Board of Directors recommends IAMGOLD?s cas...
11/17/2008Expiry of the Deadline for Competing Bids for Euro Ressource...
11/6/2008Announces Q3 Record Revenues of $227 Million and an Operatin...
9/29/2008Corporate Update
9/29/2008Positive Results Expected in Ecuador's Constitutional Refere...
8/29/2008Announces Filing in France of Cash Bid for Euro Ressources
7/30/2008?s Boto Project, Senegal Exploration Update
7/23/2008Announces Acquisition of Doyon Royalty
6/2/2008Announces Operational Improvements Impacting Reserve Life an...
5/6/2008Reports Continued Success at 3.3 Million Ounce Westwood Proj...
5/5/2008Reaches Three Year Labour Agreements at Niobec
4/25/2008and Other Mining Companies Meet with President Correa and Ot...
3/28/2008 Reports Record Operating Cash Flow in 2007
3/28/2008 Increases Resources by 5%
3/14/2008Holds Positive Meeting with President Sarkozy
2/28/2008 Continues Rationalization of Exploration Portfolio
2/12/2008Year End Results Release ? March 28, 2008
2/6/2008Announces $ 18 Million Cost Improvement Program at Rosebel
1/31/2008Reports Camp Caiman Permits Not Approved
1/30/2008Corporate Update
12/14/2007Declares Seventh Consecutive Annual Dividend
11/15/2007 Reaches Agreement on Environmental Protection in Ecuador
10/9/2007Signs Option for Sale of Sleeping Giant
9/25/2007Exploration and Development Project Update
9/6/2007 Westwood Scopings Study Shows Positive Economics
8/3/2007Mistassini and Otish Basins Uranium Projects Exploration Upd...
7/10/2007Announces Further Drill Results at Quimsacocha
6/13/2007Announces Exploration Results Confirming New High Potential ...
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TORONTO (IMG.TO)NYSE (IAG)
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TORONTO
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