SOURCE: i-minerals inc.

September 21, 2006 13:34 ET

Drill Program Underway to Provide Bulk Sample of Kelly's Basin

Results to Be Compared With Block Model to Evaluate Grade Variability

VANCOUVER, BC -- (MARKET WIRE) -- September 21, 2006 --i-minerals inc. (TSX-V: IMA) has commenced a drill core program to test the block model created by SRK Consulting (US) Inc. ("SRK") as part of the ongoing feasibility study and to provide supplemental material for a bulk sample of the Kelly's Basin feldspar-quartz deposit in Latah County, Idaho for pilot plant level metallurgical work.

The drill holes have been strategically located to test several sections of the block model that is the basis for the ongoing reserve/resource calculations. In developing the block model, SRK subdivided the Kelly's Basin deposit into a contiguous series of 20-foot by 20-foot by 20-foot blocks and assigned a tonnage and grade to each of these blocks. Analytical results from the current drill program will be compared with the grades attributed to each of the 8000 cubic foot [or 296.3 cubic yard or 226.5 cubic meter] resource blocks, such grade being based upon previous drill holes completed on 200-foot centers. Limited differences between the current drill core results and the resource block values would indicate predicable grade variances within the block model.

The diamond drill program will be comprised of 4 holes of "HQ" diameter (2.5 inches) completed to a maximum depth of 200 feet. Completion of all of the scheduled drill holes is expected to generate nearly a ton of material that will supplement the splits from earlier drill holes to provide feed for pilot plant processing at Minerals Research Laboratory (MRL) in Asheville, North Carolina. The pilot plant has already been assembled and is preparing to produce potassium feldspar and quartz products from 30 tons of material previously sent to MRL. The process flow sheet for the production of sodium feldspar and potassium feldspar is nearly identical, so with the pilot plant already assembled, processing costs will be minimized based upon the timely delivery of the drill core bulk sample to MRL.

In addition to these new core holes, two other holes have been completed on the approximate margins of the expected open pit to test the rock dynamics. The quality of the rock dynamics will determine the slope of the pit walls, which in turn will influence the magnitude of the reserves or resources defined.

"The feasibility study is progressing very well, and we are pleased with effort and results of our consultant group SRK, AMEC and Ruen-Yeager," commented Roger Kauffman, president of i-minerals. "Successful completion of the pilot plant scale and the production of feldspar and quartz products will determine the final flow sheet of the processing plant, and along with the reserve calculation and mine plan will provided a excellent platform for environmental and permit requirements to be completed."

Further to the Company's press release of September 6, 2006 the company has been advised MRL has finished the re-floating process of the quartz tails generated from the production of the feldspar product. A series of quartz samples have been created, all of which have been sent for analysis to determine the purity of the quartz product. The results of this testing will determine whether additional testing is warranted to determine if a high value, high purity quartz product can be produced from the Kelly's Basin granodiorite.

A. Lamar Long, CPG, is the Qualified Person ("QP") for the Helmer-Bovill project under NI 43-101. He oversees the quality control and quality assurance program and the construction of all samples for metallurgical analysis and reviews all analytical results prior to public release.

i-minerals inc.

per: "Roger Kauffman"

Roger Kauffman,
President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This News Release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.

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