IAMGOLD Corporation
TSX : IMG
NYSE : IAG
ASX : IGD
BOTSWANA : IAMGOLD

IAMGOLD Corporation

June 08, 2006 18:31 ET

IAMGOLD Announce Initial Results from 2006 Drill Program at Quimsacocha




TSX Trading Symbol: IMG
NYSE Trading Symbol: IAG
ASX Trading Symbol: IGD
BSE Trading Symbol: IAMGOLD
Fully Diluted Shares Outstanding: 179.0 MM


TORONTO, ONTARIO--(June 8) - IAMGOLD Corporation ("IAMGOLD" or "the Company")
is pleased to announce the results of an additional 31 diamond drill holes on
its 100% owned Quimsacocha project in Ecuador, including an intersection of
37.2 metres averaging 46.1 grams per tonne (g/t) gold, 89.2 g/t silver and
1.8% copper in hole 278.

The Quimsacocha property is located 40 kilometers southwest of the city
of Cuenca in southern Ecuador. These results are from the 2006 drill program
to date and total 5,929 m of diamond drilling at the property.

Joseph Conway, President and CEO of IAMGOLD commented on the most recent
drill results: "These results continue to be encouraging and demonstrate the
continuation of this resource beyond the established base of 2.8 million
ounces. The results also indicate the lateral continuity of the orebody
southwards and confirm the presence of a very high grade zone to the north.
The relationship between structures and the very high grade mineralization is
to be the subject of further drill testing. Ongoing surface mapping of
alteration and geology combined with a reinterpretation of geophysical data
suggests potential for further extensions of the Quimsacocha system to the
south, west and north with a number of new targets identified for drill
testing in the second half of 2006."

The drill program for the remainder of 2006 at Quimsacocha will continue
to infill drill and test new targets within 1.5km of the existing orebody to
further delineate the resource. Planned spending in the second half of 2006 at
Quimsacocha will be US$3.8 million.

The significant results are shown in Table 1. The collar locations of the
drill holes can be found in Figure 1 at http://files.newswire.ca/396/iamg.doc.
Additional figures can be found at: www.iamgold.com.



Table 1
Significant Intersections from 2006 Infill Drilling
At Quimsacocha as Reported on June 5, 2006
-------------------------------------------------------------------------
Hole From To Length Gold Silver Cu
--------------------------------------------------------
m m M g/t g/t %
-------------------------------------------------------------------------
277 158.8 179.7 20.9 4.1 25.2 0.2
including 164.5 171.7 7.2 8.0 39.3 0.2
-------------------------------------------------------------------------
278 146.1 183.3 37.2 46.1 89.2 1.8
including 167.0 182.0 15.0 105.0 132.0 3.5
including 169.9 178.9 9.1 169.2 190.0 5.4
-------------------------------------------------------------------------
279 143.1 163.5 20.5 23.1 73.7 2.0
including 145.6 147.9 2.3 18.0 47.4 0.6
150.6 161.1 10.5 37.1 117.1 3.4
-------------------------------------------------------------------------
280 140.0 160.4 20.4 9.1 57.3 1.0
including 151.5 157.7 6.3 12.5 81.8 1.7
-------------------------------------------------------------------------
282 48.5 51.2 2.7 3.9 6.5 0.3
54.8 56.2 1.4 5.7 18.7 0.6
145.0 153.9 8.8 7.3 49.4 0.9
169.0 199.0 30.1 12.4 80.7 2.3
including 177.0 193.3 16.3 19.5 131.7 4.1
-------------------------------------------------------------------------
283 194.0 196.6 2.6 1.2 5.7 0.0
-------------------------------------------------------------------------
284 51.9 57.5 5.6 2.9 19.5 0.3
including 54.1 57.5 3.4 4.3 30.9 0.5
-------------------------------------------------------------------------
286 134.1 158.8 24.7 8.0 54.3 0.7
including 151.8 157.5 5.8 17.1 124.5 1.5
166.1 169.2 3.1 1.6 9.7 0.0
-------------------------------------------------------------------------
289 124.0 164.7 40.7 5.2 19.0 0.3
including 126.2 139.0 12.8 8.4 36.0 0.4
including 159.0 164.7 5.7 7.8 33.0 0.2
-------------------------------------------------------------------------
290 120.2 183.5 63.3 5.7 18.0 0.2
including 123.0 146.0 23.0 10.1 29.0 0.3
including 151.0 156.0 5.0 8.1 16.0 0.3
-------------------------------------------------------------------------
292 118.0 121.0 3.0 2.1 6.7 0.0
144.0 168.5 24.5 4.6 15.0 0.1
including 146.0 149.3 3.3 10.4 18.0 0.1
including 158.5 161.8 3.3 6.9 26.0 0.2
-------------------------------------------------------------------------
293 84.1 167.0 82.9 4.8 11.0 0.2
including 96.6 108.0 11.4 18.7 19.9 0.3
-------------------------------------------------------------------------
294 131.6 173.2 41.7 6.6 23.3 0.2
including 149.4 160.0 10.6 9.6 51.1 0.6
including 163.1 169.2 6.1 13.5 24.1 0.2
-------------------------------------------------------------------------
295 106.1 184.4 78.4 3.4 11.9 0.1
including 149.0 180.0 31.0 5.7 21.6 0.3
including 168.0 178.0 10.0 9.6 27.8 0.3
-------------------------------------------------------------------------
296 115.0 163.0 48.0 2.3 14.0 0.2
including 149.0 161.5 12.5 3.4 24.0 0.3
-------------------------------------------------------------------------
297 153.9 180.7 26.8 1.8 4.5 0.0
including 171.6 173.7 2.1 9.7 14.0 0.1
202.0 209.8 7.8 2.0 11.0 0.3
-------------------------------------------------------------------------
298 116.4 189.0 72.5 2.7 11.0 0.1
including 161.0 172.2 11.2 5.1 19.0 0.3
200.0 214.3 14.3 1.9 8.8 0.1
-------------------------------------------------------------------------
300 105.0 156.5 51.5 2.5 11.0 0.1
including 128.3 139.6 11.4 4.2 16.0 0.2
-------------------------------------------------------------------------
301 117.8 185.7 67.9 1.8 26.0 0.1
including 125.3 135.0 9.7 4.0 10.6 0.0
-------------------------------------------------------------------------
302 121.0 173.6 52.6 2.7 10.3 0.1
including 128.3 138.3 10.0 5.0 17.4 0.1
-------------------------------------------------------------------------
including 157.0 161.1 4.1 4.0 23.8 0.5
-------------------------------------------------------------------------
303 119.2 132.3 13.1 1.1 3.9 0.0
139.2 168.3 29.2 2.5 19.2 0.2
including 150.8 159.8 9.0 3.6 20.1 0.2
-------------------------------------------------------------------------
304 90.8 100.0 9.2 1.9 1.1 0.0
109.9 162.3 52.4 2.7 15.0 0.0
including 109.9 128.2 18.3 4.6 8.7 0.0
including 157.7 162.3 4.6 4.3 58.0 0.3
-------------------------------------------------------------------------
305 119.5 176.8 57.3 3.5 20.6 0.3
including 134.7 166.1 31.4 4.9 25.8 0.4
including 134.7 144.8 10.1 7.3 46.8 0.7
-------------------------------------------------------------------------
306 135.9 170.0 31.1 3.2 26.0 0.2
including 162.4 168.8 6.4 6.7 39.0 0.3
-------------------------------------------------------------------------
307 128.0 133.7 5.7 1.7 14.0 0.0
157.8 165.5 7.7 2.8 22.0 0.0
including 162.2 164.5 2.4 4.6 36.0 0.2
-------------------------------------------------------------------------
(i)Holes 281, 285, 287, 288, 291, 299 showed no mineralization


Qualified Person/Quality Control Notes

Analyses of gold in drill core samples were carried out by fire assay at
the laboratory of BSI in Lima, Peru and copper and silver analyses were
carried out by the same laboratory. As part of the quality control program 10%
of the total drilled samples were analyzed with the same assay that we used at
BSI, now by ALS Chemex in La Serena, Chile.

The "Qualified Person" reviewing the work at Quimsacocha is Marcus
Tomkinson, Vice-President of Exploration at IAMGOLD, who as a result of his
education, affiliation with a professional association and good background,
fulfills the requirements to be a "Qualified Person" for the purposes of
NI43-101.

Please note:
------------

This entire press release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through CCNMatthews' website at www.ccnmmathews.com. All material information on IAMGOLD can be found at
www.sedar.com or at www.sec.gov.

Contact Information

  • IAMGOLD Corporation:
    Lisa Doddridge
    Manager
    Investor Relations
    Tel: (416) 360-4710
    Fax: (416) 360-4764

    Marcus Tomkinson
    Vice President Exploration
    Toll-free: 1-888-IMG-9999