SOURCE: i-minerals inc.

July 06, 2006 11:52 ET

Phase 1 Kaolin Drill Program Underway

VANCOUVER, BC -- (MARKET WIRE) -- July 6, 2006 --i-minerals inc. (TSX-V: IMA) has commenced the Phase 1 drill program on the Corral Creek Project, on the Helmer-Bovill Property in Latah County, Idaho. The Phase 1 program is comprised of up to 20 core holes, each having a depth of up to 150 feet, targeting high yield sedimentary kaolinitic clays. The first three holes have been completed and have intersected a stratigraphic section that is similar to that described in the literature for the Bovill area. All three holes have intersected varying thicknesses of light colored, high yield kaolin clays. Based upon the current geologic model, the initial Phase 1 drill holes are located the farthest up dip in the Latah formation and as drilling continues down dip, thicker kaolin layers are expected, similar to those mined in the past. Testing and further drilling will upgrade the understanding of the geologic model of the sedimentary clays and lead to resource targets that will be drilled in the second phase drilling program. As noted in the company's press release of March 21, 2006, analyses of bulk surface samples taken from the vicinity of the current drilling indicate that the sedimentary clay has very high kaolin content and appear amenable to low cost processing techniques.

All intersections of the targeted clay horizon will be sampled and sent for whole rock geochemistry and composite samples will be prepared for clay testing. The first phase program has been designed to develop a geological model in addition to testing the prospective clay horizons. Based upon satisfactory results being achieved in Phase 1, the company will embark on a Phase 2 program comprised of up to 40 holes on a 200-foot surveyed grid with each drill hole having a depth of 100 feet or less. Successful completion of both phases of the drill program would provide sufficient information for a reserve or resource calculation.

"The sedimentary kaolinitic clays offer a very exciting opportunity that we are anxious to evaluate," commented Roger Kauffman, President and CEO of i-minerals inc. "We are hopeful Corral Creek offers i-minerals a quality kaolin deposit in much the same fashion as Kelly's Basin provides a quality feldspar-quartz deposit. Ideally we will develop a kaolin resource in parallel with the feldspar-quartz deposit."

A. Lamar Long, CPG, is the Qualified Person for the Helmer-Bovill project under NI 43-101. He oversees the quality control and quality assurance program and the construction of the bulk samples sent to MRL. Mr. Long reviews all analytical results prior to public release.

i-minerals inc.

per: "Roger Kauffman"

Roger Kauffman,
President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This News Release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the worldwide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.

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