IMA Exploration Inc.
TSX VENTURE : IMR
FRANKFURT : IMT
BERLIN : IMT
AMEX : IMR

IMA Exploration Inc.

October 20, 2006 14:11 ET

IMA Announces Timeline of Appeal

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2006) - IMA Exploration Inc. (TSX.VENTURE:IMR)(AMEX:IMR)(FWB:IMT)(WKN 884971)(BERLIN:IMT) ("IMA") announces that the respective counsel for IMA and Aquiline have agreed on the following timeline:

November 24, 2006 - IMA to file its appeal factum.

February 16, 2007 - Aquiline to file its appeal factum.

March 2, 2007 - IMA to file its reply to Aquiline.

March 16, 2007 - both parties to file their Books of Authorities and all other materials with the court.

April 10, 2007 - the parties to appear before the British Columbia Court of Appeal.

"We are pleased to learn of the above schedule. In the meantime, we have announced that we are complying with the judgment of the trial court and look forward to arguing its case before the Court of Appeal. I am confident that IMA will win on appeal and re-establish our ownership interest in Navidad," said Joseph Grosso, President and CEO.

ON BEHALF OF THE BOARD

Mr. Joseph Grosso, President & CEO

Cautionary Note to U.S. Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

2006 Number 19


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • IMA Exploration Inc.
    Joseph Grosso
    President & CEO
    (604) 687-1828 or 1-800-901-0058
    or
    IMA Exploration Inc.
    Sean Hurd
    Vice President, Investor Relations
    (604) 687-1828 or 1-800-901-0058
    (604) 687-1858 (FAX)
    Email: info@imaexploration.com
    Website: www.imaexploration.com