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

IAMGOLD Corporation

August 22, 2005 18:14 ET

IAMGOLD Releases Encouraging Metallurgical Test Results from Quimsacocha




TSX Trading Symbol: IMG
AMEX Trading Symbol: IAG
Fully Diluted Shares Outstanding 151.6MM


TORONTO, ONTARIO--(Aug. 22, 2005) - IAMGOLD Corporation ("IAMGOLD" or "the Company")
is pleased to announce initial metallurgical results and further drilling
results for its 100%-owned gold-copper-silver project at Quimsacocha in
Ecuador.

"These metallurgical results are highly encouraging. Drilling has
continued to expand the size of the deposit and drilling to test additional
targets will commence on the Quimsacocha property early in the fourth quarter.
Quimsacocha continues to demonstrate its potential to become a significant
economic deposit and a major producing asset for IAMGOLD," commented
Joseph Conway, President and CEO.

Metallurgical Results

A series of metallurgical tests have been carried out in Canada by
SGS Lakefield Research Limited on nine samples with grades ranging from 5 to
42 g/t gold, 28 to 131 g/t silver, and from 0.3 to 5.4% copper. Composite
samples created from the original nine samples were also tested. The
objectives of the test work were to investigate the possible processes by
which gold and other metals might be extracted and the range of metal
recoveries that might be expected.

The tests demonstrate that pressure oxidation of the whole ore followed
by cyanidation of the residue from that process results in roughly 99% gold
extraction. Copper extraction was also high at approximately 99%. Pressure
oxidation involves the use of an autoclave circuit in which material is passed
through a vessel and is subjected to elevated temperature and oxygen pressure.
Pressure oxidation is effective in treating enargite, the main copper-bearing
mineral in the Quimsacocha deposit, resulting in high recoveries of both gold
and copper with low reagent consumption. Pressure oxidation processes are
widely used in the gold industry.

In addition, unoptimized flotation tests gave gold extraction rates
ranging from 94% to 97% and copper extraction ranging from 98% to 99%. In
order to remove the gold and copper from the flotation concentrate, it was
then treated by pressure oxidation and the resultant residue was subsequently
treated with cyanide for gold extraction. The gold extraction from the
pressure oxidation residue was 97%. Roughly 96% of the copper went into
solution and its ultimate recovery would be through a simple solvent
extraction electro-winning process.

Preliminary direct cyanidation leach tests have also been performed and
further tests are in progress. This route, coupled with cyanide recovery, is
an alternative to the oxidation routes mentioned earlier.

Drilling Results

The Company is also pleased to announce the results of another 18 diamond
drill holes at Quimsacocha. Results are shown in Table 1, the drill hole
locations are shown on Figure 1 and cross sections are shown in Figures 2, 3
and 4.

The "gap" that once existed between the D1 and Loma Larga zones has now
been filled by drilling, demonstrating the continuity of mineralization and
confirming that D1 and Loma Larga form a single deposit. This deposit is still
open to the south east of hole 221. Going forward, this deposit will be called
the Quimsacocha deposit.

The most significant results from this round of drilling comes from the
holes in the south of the deposit:



- Hole 210 - 54.8m @ 5.3g/t gold
- Hole 215 - 40.8m @ 3.5g/t gold
- Hole 216 - 62.8m @ 4.5g/t gold
- Hole 218 - 67.4m @ 3.3g/t gold
- Hole 220 - 47.3m @ 3.7g/t gold
- Hole 221 - 58.2m @ 4.1g/t gold


The above holes are significant because of their long intersections (the
stated lengths are mineralized intersections in inclined holes) and good
grades but they also indicate a thickening of the deposit in the south.

Due diligence on the database for the Quimsacocha resource estimate has
been started by Roscoe Postle and Associates and we expect to release the
independent resource estimate late in the fall.

Qualified Person/Quality Control Notes

Analyses of gold in drill core samples were carried out by fire assay at
the laboratory of British Standards Institute in Lima, Peru and copper and
silver analyses were carried out by the same laboratory at its facilities in
Lima and Reno, Nevada.

The "Qualified Person" reviewing the work at Quimsacocha is Dennis Jones,
P. Geo, Vice-President Exploration at IAMGOLD, who as a result of his
education, affiliation with a professional association and past relevant work
experience, fulfills the requirements to be a "Qualified Person" for the
purposes of NI43-101.

This press release includes certain "Forward-Looking Statements" within
the meaning of section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of IAMGOLD, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from IAMGOLD's expectations
are disclosed under the heading "Risk Factors" and elsewhere in IAMGOLD
documents filed from time-to-time with the Toronto Stock Exchange, the United
States Securities and Exchange Commission and other regulatory authorities.

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.ccnmatthews.com.
All material information on IAMGOLD can be found at www.sedar.com or at
www.sec.gov.



Table 1
Significant Intersections from Drilling at Quimsacocha
As Reported on August 22, 2005
(Intersections where gold values are greater than 5 g/t are highlighted)
-------------------------------------------------------------------------
Hole From To Length Gold Silver Copper
----------------------------------------------------------
(m) (m) (m) (g/t) (g/t) (%)
-------------------------------------------------------------------------
204 133.8 208.7 74.9 2.7 7.1 0.1
including 173.3 180.3 7.0 7.0 11.9 0.1
224.4 245.5 21.1 1.7 7.6 0.1
-------------------------------------------------------------------------
207 200.0 263.3 63.3 2.2 16.8 0.3
-------------------------------------------------------------------------
208 250.2 262.7 12.5 2.0 37.4 0.2
-------------------------------------------------------------------------
-------------------------------------------------------------------------
209 181.5 238.2 56.7 1.8 14.7 0.1
-------------------------------------------------------------------------
210(1) 145.3 200.0 54.8 5.3 33.0 0.4
including 155.0 170.2 15.2 12.5 74.1 1.0
-------------------------------------------------------------------------
211 193.0 204.4 11.4 1.2 20.1 0.1
-------------------------------------------------------------------------
212 130.0 144.6 14.6 3.7 14.2 0.0
-------------------------------------------------------------------------
213 147.0 184.3 37.3 1.9 18.7 0.1
-------------------------------------------------------------------------
214(2) 114.0 124.1 10.1 4.8 N/A N/A
141.0 147.8 6.8 17.7 N/A N/A
154.5 158.3 3.8 11.6 N/A N/A
-------------------------------------------------------------------------
215(3) 153.2 194.0 40.8 3.5 18.0 0.1
-------------------------------------------------------------------------
216(4) 156.2 219.0 62.8 4.5 18.2 0.1
259.7 272.4 12.7 3.3 24.8 0.1
-------------------------------------------------------------------------
217 126.1 164.6 38.5 7.1 40.1 0.4
-------------------------------------------------------------------------
218 139.7 207.1 67.4 3.3 15.6 0.1
including 180.3 190.4 10.1 9.9 31.8 0.1
-------------------------------------------------------------------------
219 38.1 57.7 19.6 3.4 10.5 0.1
-------------------------------------------------------------------------
220 149.8 197.1 47.3 3.7 20.0 0.2
including 175.0 183.0 8.0 8.1 43.0 0.5
214.0 239.5 25.5 2.1 12.7 0.2
-------------------------------------------------------------------------
221 124.0 131.0 7.0 1.4 6.0 0.0
139.0 197.2 58.2 4.1 24.3 0.1
including 185.2 190.0 4.8 9.1 59.5 0.2
-------------------------------------------------------------------------
222 161.0 177.0 16.0 2.5 19.2 0.2
233.0 242.0 9.0 1.8 14.1 0.1
-------------------------------------------------------------------------
223(5) 67.0 128.0 61.0 TR TR TR
-------------------------------------------------------------------------

NOTE: Holes 205 and 206 were reported in the July 12, 2005 press release.
(1) Includes a 1.0m intersection @ 60.4g/t gold.
(2) Silver and copper assays are not available. The intersection from
114.0m to 124.1m includes 0.8m intersection @ 31.0 g/t gold. The
intersection from 141.0m to 147.8m includes two adjacent high assays
of 36.7g/t gold over 1.1m and 77.1g/t gold over 0.5m. The
intersection 154.5m to 158.3m includes a 36.6g/t gold assay over
1.0m.
(3) Includes a 1.0m intersection @ 30.0g/t gold.
(4) Includes a 1.0m intersection @ 101.3g/t gold and an adjacent 0.9m
intersection @ 48.3g/t gold.
(5) Only trace amounts of gold, silver and copper were reported.

Contact Information

  • IAMGOLD Corporation:
    Dennis Jones
    Vice President Exploration
    Tel: (416) 360-4710,
    Fax: (416) 360-4750;

    Lisa Doddridge
    Manager
    Investor Relations
    Toll-free: 1-888-IMG-9999