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

IMA Exploration Inc.

October 13, 2005 11:10 ET

IMA Intersects 31.5m of 684 g/t Silver at Loma de la Plata

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - IMA Exploration Inc. (TSX VENTURE:IMR)(AMEX:IMR)(FWB:IMT)(WKN 884971) is pleased to announce the final results from Phase III drilling at it's 100% owned Navidad Project in Patagonia, Argentina. Eleven new drill holes have been completed and include the first five holes ever drilled at Loma de la Plata. Loma de la Plata is one of several zones within the larger Argenta Trend, located 3 km southwest of the known Navidad deposits. Significant results from the Loma de la Plata drilling include 31.5m of 684 g/t silver in hole 241 and 28.4m of 236 g/t silver in hole 242.

Drilling to date has tested a very small portion of the known mineralization at Loma de la Plata (see attached map). Trenches 7 and 10 are located up to 275 metres from the current drilling and returned values of 48.5m of 315 g/t silver and 56.0m of 452 g/t silver, respectively. While it is too early to speculate on the ultimate size potential of the Loma de la Plata zone, it is clear that this initial drilling has confirmed the surface discovery and highlights the potential for additional discoveries at the Navidad project.

Of the five drill holes completed at Loma de la Plata, two (241 and 242) were drilled at angles of -45 degrees and were collared near trenches where high-grade silver had been defined on surface. Hole 241 was drilled under trenches 1 and 3 that returned 40.1m of 740 g/t silver and 42.9m of 684 g/t silver, respectively (see attached map). Hole 242 was drilled under trench 2 which returned 103.3m of 290 g/t silver. The strong correlation between surface results from trenching and sub-surface results from drilling suggests that little or no surface enrichment of silver has occurred at Loma de la Plata. The remaining three holes were collared 40 to 90 metres further to the east and drilled at -60 degrees angles. These holes (243-245) appear to have missed the better-mineralized north-south trending zone as defined by trenches 1-3, 8, and 9 and drill holes 241 and 242.

Drilling at Loma de la Plata has confirmed the basic geological model of a favourable, mineralized, upper-volcanic sequence comprised of quartz-eye bearing trachyandesites. The units dip approximately 25 to 30 degrees towards the northeast and the favourable unit is approximately 30 to 35m thick in the area drilled to date.

Mineralization noted in the Loma de la Plata holes is associated with minor veinlets and narrow intervals of brecciation both of which contain carbonate gangue minerals with lesser amounts of quartz and barite. Sulphide content is generally very low, never exceeding two percent. Minor amounts of galena, copper oxides, probable silver-copper sulphosalts, and traces of native silver were noted during the logging. The form and shape of zones of veinlets and brecciation is not yet well defined, but is hosted exclusively within the trachyandesite upper volcanic rocks. Further drilling will be required to confirm the orientation and ultimate size potential of this zone.

Dr. Paul Lhotka is IMA's Qualified Person for the Navidad project under National Instrument 43-101 regulations and has overseen all aspects of the current exploration program. IMA has implemented a rigorous program of quality assurance and quality control at the Navidad project, for complete details of this and for more maps depicting the work described herein please visit IMA's web site at http://www.imaexploration.com/.

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 focused on the environmentally and socially responsible exploration and development of its' 100% owned Navidad silver discovery.

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 21



--------------------------------------------------------------------
composite g/t %
Drill From To length Silver Lead
hole Location (metres) (metres) (metres) (LWA) (LWA)
--------------------------------------------------------------------
NV05-241 Loma de la
Plata surface 31.50 31.50 684 0.76
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-242 Loma de la
Plata surface 28.40 28.40 236 0.10
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including surface 19.50 19.50 322 0.11
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-243 Loma de la
Plata 3.00 32.51 29.51 59 0.05
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including 3.00 11.27 8.27 140 0.00
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-244 Loma de la
Plata 3.00 10.56 7.56 90 0.24
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including 3.00 7.07 4.07 140 0.16
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-245 Loma de la
Plata 3.00 8.00 5.00 172 0.00
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-246 Calcite Hill 184.81 193.74 8.93 52 0.01
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--------------------------------------------------------------------
NV05-247 Calcite Hill 101.14 105.32 4.18 65 0.06
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NV05-248 Navidad Hill 24.00 41.14 17.14 136 0.86
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including 28.24 34.99 6.75 243 0.89
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NV05-249 Navidad Hill 3.00 8.73 5.73 62 0.00
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--------------------------------------------------------------------
NV05-250 Navidad Hill 3.00 9.29 6.29 113 0.11
--------------------------------------------------------------------
and 28.26 35.87 7.61 59 0.05
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--------------------------------------------------------------------
NV05-251 Navidad Hill 34.17 41.19 7.02 54 0.01
--------------------------------------------------------------------
--------------------------------------------------------------------

Notes:
1. All length weighted averages (LWA) results are "uncut".
2. A table with full results to date and drill hole locations,
orientations, and lengths is available at IMA's website:
www.imaexploration.com


To view the map attached to this release please click on the following link: http://www.ccnmatthews.com/docs/imr1013.jpg

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