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

IMA Exploration Inc.

August 18, 2005 15:22 ET

IMA Exploration Inc.: Financing Clarification

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 18, 2005) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US WIRE SERVICES

IMA Exploration Inc. (TSX VENTURE:IMR)(AMEX:IMR)(FWB:IMT)(BERLIN:IMT) (WKN 884971) would like to note that the announcement of its $7.5 million bought deal financing made on August 17, 2005, should have included a reference to a $2.5 million over allotment option which is exercisable by the underwriters at any time prior to the closing of the offering. If the over allotment option is exercised, IMA Exploration Inc. will issue a total of 3,333,340 unit, each unit consisting of one common share and one half warrant to acquire common stock.

The offering and closing is subject to regulatory approval and normal closing conditions. This financing has a four-month hold period.

This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and registration is available. Not for distribution to US newswire services or for dissemination in the United States.

ON BEHALF OF THE BOARD

Mr. Joseph Grosso, President & CEO

2005 Number 18

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
    1-800-901-0058 or (604) 687-1828
    (604) 687-1858 (FAX)
    or
    IMA Exploration Inc.
    Sean Hurd
    Vice President, Investor Relations
    1-800-901-0058 or (604) 687-1828
    (604) 687-1858 (FAX)
    info@imaexploration.com
    www.imaexploration.com