SOURCE: i-minerals inc.

I-Minerals Inc.

April 25, 2017 03:30 ET

I-Minerals Hallopure™ Halloysite Granulates Successfully Tested as Gas Absorbers for Treatment of Biogas for Powering Fuel Cell Systems

VANCOUVER, BC--(Marketwired - April 25, 2017) - I-Minerals lnc. (TSX VENTURE: IMA)(OTCQB: IMAHF) (FRANKFURT: 61M) (the "Company") is pleased to report its Hallopure™ halloysite product has been successfully used as a gas absorbent component for treatment of biogas used for the powering of fuel cell systems.

The innovation is developed through the cooperation of two Neubrandenburg, Germany based companies; new enerday GmbH ("new enerday") and DURTEC GmbH ("DURTEC"). new enerday, a European leader in fuel cell technology, develops power generators based on high-temperature SOFC (Solid Oxide Fuel Cell) fuel cells. With this fuel cell type, electrical energy can be obtained directly from fossil fuels such as natural gas, liquefied petroleum gas or diesel, as well as regenerative fuels such as bioethanol or biogas. In the joint innovation between new enerday and DURTEC, I-Minerals' Hallopure™ halloysite granulates were used to remove undesirable elements from the biogas prior to its consumption in the fuel cell.

To create a halloysite granulate halloysite is essentially crushed to a finer size and then compressed into a pill like shape. The technology being used with our halloysite is called pressure swing absorption wherein the gas molecules can be selectively absorbed to halloysite.

Halloysite granulates have some advantages compared with other absorber materials currently used for removing sulphur or ammonia components from gases for powering fuel cell equipment. Core among these advantages is halloysite, as an alumina silicate, is not combustible and therefore does not catch fire under extreme temperatures. Other absorber materials include synthetic zeolites, which are much more expensive.

Dr. Mathias Boltze, managing director of new enerday GmbH stated "It is a pleasure for all of us to get a non-burnable natural material for absorption purposes as component of our innovative technology. DURTEC's knowledge on uses of mineral gas absorbents like halloysite granulates is very valuable for the competitiveness of our technology in developing countries."

The target market for the biogas fuel cells is primarily in Asia. It is estimated that a major part of the EU-27 renewable energy target by 2020 will be met by bioenergy, at least 25% of which will be biogas. In addition, the global capacity for power generation from commercial biogas facilities will more than double over the next decade from 14.5 GW in 2012 to 29.5 GW in 2022

"This is another very exciting application for our halloysite with excellent market growth potential," stated Thomas Conway president and CEO of I-Minerals Inc. "The unique tubular shape of halloysite and its global scarcity make it very much a mineral of the future. With halloysite being one of four minerals produced form our Helmer-Bovill property in Idaho, I-Minerals is well positioned to become one of the largest and lowest cost producers of high quality halloysite."

A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals Inc. and has reviewed and approved the contents of this release.

About I-Minerals Inc.

I-Minerals is developing multiple deposits of high purity, high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in north Idaho. A 2016 Feasibility Study on the Bovill Kaolin Deposit led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR. Initial CAPEX was estimated at $108.3 million with a 3.7 year After Tax payback. Other engineering services were provided by HDR Engineering, Inc. (all environmental components; hydrology / hydrogeology; road design); Tetra Tech, Inc. (tailings storage facility design); Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); and SRK Consulting (U.S.) Inc. (mineral resource estimation). Permitting work with the State of Idaho is well underway.

I-Minerals Inc.

Per: "Thomas M. Conway"

Thomas M. Conway, President & CEO

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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