IMA Exploration Inc.

IMA Exploration Inc.

March 16, 2005 17:15 ET

IMA Exploration Inc.: Stock Options Granted


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: IMA EXPLORATION INC.

TSX VENTURE SYMBOL: IMR
OTC Bulletin Board SYMBOL: IMXPF
FRANKFURT, BERLIN SYMBOL: IMT

MARCH 16, 2005 - 17:15 ET

IMA Exploration Inc.: Stock Options Granted

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - IMA
Exploration Inc. (TSX VENTURE:IMR)(OTCBB:IMXPF)(FWB:IMT)(BERLIN:IMT)
would like to announce that pursuant to the Company's stock option plan,
IMA has granted incentive stock options to its directors, employees and
consultants to purchase up to an aggregate of 900,000 common shares in
the capital stock of IMA Exploration Inc., exercisable for a period of
five years, at a price of $4.16 per share. These options are subject to
a four-month hold period.

IMA is well financed to continue to test the numerous exploration
targets at Navidad with significant drill programs. The Company has over
10 years experience in Argentina and is dedicated to the exploration and
development of socially, economically and environmentally responsible
mining opportunities.

ON BEHALF OF THE BOARD

Mr. Joseph Grosso, President & CEO

Cautionary Note to US 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.

2005 Number 7

(WKN 884971)

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    IMA Exploration Inc.
    Joseph Grosso
    President & CEO
    1-800-901-0058 or (604) 687-1828
    or
    IMA Exploration Inc.
    Sean Hurd
    Investor Relations Manager
    1-800-901-0058 or (604) 687-1828
    (604) 687-1858 (FAX)
    info@imaexploration.com
    www.imaexploration.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or the accuracy of this release.