IMA Exploration Inc.

IMA Exploration Inc.

March 22, 2005 09:02 ET

IMA's Drilling Expands High Grade Silver Mineralization at Calcite Hill-Program Expanded by 10,000 Metres


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: IMA EXPLORATION INC.

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

MARCH 22, 2005 - 09:02 ET

IMA's Drilling Expands High Grade Silver
Mineralization at Calcite Hill-Program Expanded by
10,000 Metres

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2005) - IMA
Exploration Inc. (TSX VENTURE:IMR)(OTCBB:IMXPF)(FWB:IMT)(BERLIN:IMT) is
pleased to report results from Phase III diamond drill holes 146 to 161
at it's 100% owned Navidad project in Patagonia, Argentina. Highlights
from drilling at Calcite Hill include: 83.0m of 209 g/t silver in hole
148 and 80.2m of 246 g/t silver including 25.3m of 476 g/t silver in
hole 151. The Calcite Hill soil anomaly extends for 1.4 km to the
northwest of current drilling and is located along the Navidad Trend
where IMA's Phase I & II drill programs defined an Indicated Resource of
268 million ounces of silver and 1.1 million tonnes of lead (80.8
million tonnes at 103 g/t silver and 1.45% lead using a 50 g/t silver
equivalent cut-off).

As a result of the success to date at Calcite Hill, IMA's Technical
Committee has approved a 10,000m expansion to the Phase III drill
program, thereby doubling the budgeted drill metres. This expansion will
allow IMA's geologists to continue to delineate high-grade silver
mineralization at Calcite Hill. New drill results from Calcite Hill
(holes 146 to 152) have extended known silver mineralization another
100m to the northwest bringing the size of the main portion of Calcite
Hill mineralization to approximately 275m long by 100m wide by 50 to
120m deep (see attached map).

Drilling at the Connector Zone (holes 153-156) has intersected silver
mineralization over long intervals outside of the current Indicated
Resource. Results include 88.8m of 107 g/t silver in hole 153 and 28.8m
of 148 g/t silver in hole 154; both intercepts start at surface.
Mineralization in holes 153 and 154 is open to expansion to the north
and northwest. Both step-out and infill drilling is required in this
area and an updated resource estimate will be undertaken when this is
completed. At Navidad Hill, holes 157 to 161 were collared along the
southern boundary of the known resource and demonstrate that
mineralization continues beyond the limits of the Indicated portion of
current resource estimation.

Mineralization encountered to date at Calcite Hill is predominantly
hosted within trachyandesite volcanic rock and to a lesser degree within
mudstone which overlies the volcanic rock. The volumetrically most
important style of mineralization consists of calcite-barite veinlets
and breccias with argentite-acanthite, native silver and lesser galena
and chalcopyrite. In general, this style of mineralization contains high
silver grades with minor amounts of lead and copper. In the upper
portions of the host volcanic unit, and in the overlying mudstone,
mineralization tends to be lead-rich and consists predominantly of
medium-grained galena with moderate silver values. A resource estimate
has not yet been done for Calcite Hill.

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
responsible exploration and development of its' 100% owned Navidad
silver discovery.

ON BEHALF OF THE BOARD

"Joseph Grosso"

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.



Table 1: Phase III drill results, drillholes NV05-146 to 161
--------------------------------------------------------------------
composite g/t % %
from to length Silver Copper Lead
DDH Location (metres) (metres) (metres) (LWA) (LWA) (LWA)
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-146 Calcite 71.35 83.39 12.04 59 0.14 less
Hill than
0.01
--------------------------------------------------------------------
and 150.68 153.70 3.02 297 0.10 0.41
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-147 Calcite 74.10 87.72 13.62 37 0.07 0.06
Hill
--------------------------------------------------------------------
and 163.37 170.10 6.73 43 0.10 0.07
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-148 Calcite 77.87 160.85 82.98 209 0.08 1.23
Hill
--------------------------------------------------------------------
including 115.81 120.40 4.59 1197 0.23 1.16
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-149 Calcite 70.97 195.17 124.20 135 0.09 0.29
Hill
--------------------------------------------------------------------
including 90.66 131.30 40.64 229 0.09 0.21
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-150 Calcite 70.17 75.53 5.36 35 less 0.75
Hill than
0.01
--------------------------------------------------------------------
and 83.69 92.18 8.49 38 0.02 1.81
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-151 Calcite 60.24 140.46 80.22 246 0.09 0.78
Hill
--------------------------------------------------------------------
including 77.10 140.46 63.36 309 0.12 0.56
--------------------------------------------------------------------
including 107.10 132.43 25.33 476 0.21 0.17
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-152 Calcite 68.10 119.40 51.30 89 0.13 0.31
Hill
--------------------------------------------------------------------
including 76.04 81.96 5.92 249 0.57 0.82
--------------------------------------------------------------------
and 117.22 119.40 2.18 1,218 0.54 0.02
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-153 Connector 0.00 88.80 88.80 107 0.10 0.11
Zone
--------------------------------------------------------------------
including 0.00 7.36 7.36 226 0.22 0.18
--------------------------------------------------------------------
and 37.48 88.80 51.32 124 0.10 0.12
--------------------------------------------------------------------
--------------------------------------------------------------------
NV04-154 Connector 3.05 31.80 28.75 148 0.13 0.15
Zone
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-155 Connector 0.00 9.10 9.10 105 0.09 0.03
Zone
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-156 Connector 8.73 75.99 67.26 63 0.03 0.14
Zone
--------------------------------------------------------------------
including 8.73 13.80 5.07 53 0.02 0.88
--------------------------------------------------------------------
and 29.10 75.99 46.89 83 0.04 0.11
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-157 Navidad 14.10 63.88 49.78 53 0.06 1.20
Hill
--------------------------------------------------------------------
including 14.10 37.56 23.46 70 0.03 2.48
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-158 Navidad 35.10 68.10 33.00 90 0.09 0.51
Hill
--------------------------------------------------------------------
including 47.10 65.10 18.00 147 0.15 0.75
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-159 Navidad 14.10 92.94 78.84 52 0.06 0.34
Hill
--------------------------------------------------------------------
including 14.10 50.92 36.82 65 0.05 0.51
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-160 Navidad 29.15 33.26 4.11 623 0.33 1.12
Hill
--------------------------------------------------------------------
--------------------------------------------------------------------
NV05-161 Navidad 3.05 21.16 18.11 44 0.05 0.44
Hill
--------------------------------------------------------------------
Notes: 1. All length weighted averages (LWA) are uncut.
2. A complete table of hole locations, lengths, and
orientations is available at IMA's website
www.imaexploration.com.


To view the map accompanying this press release please click on the
following link: http://www2.ccnmatthews.com/database/fax/2000/imr322.pdf

2005 Number 8

(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
    Vice President Investor Relations
    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.