IAMGOLD Corporation
TSX : IMG
NYSE : IAG
BOTSWANA : IAMGOLD

IAMGOLD Corporation

December 30, 2008 15:31 ET

Press Release and Early Warning Report

TORONTO, ONTARIO--(Marketwire - Dec. 30, 2008) - IAMGOLD Corporation (TSX:IMG)(NYSE:IAG)(BOTSWANA:IAMGOLD) -



(a) Name and address of offeror:

IAMGOLD Corporation ("IAMGOLD")
401 Bay Street, Suite 3200
PO Box 153
Toronto, Ontario
M5H 2Y4

(b) The designation and number or principal amount of securities and the
offeror's securityholdings percentage in the class of securities of
which the offeror acquired ownership or control in the transaction or
occurrence giving rise to the obligation to file the news release,
and whether it was ownership or control that was acquired in those
circumstances:

On August 29, 2008, IAMGOLD filed with the Autorite des Marches
Financiers (the French financial services regulator) (the "France AMF")
an offer to purchase (the "Offer") all of the issued and outstanding
common shares of Euro Resources S.A. ("Euro Resources") at a purchase
price of EUR1.20 per Share. The Offer was made pursuant to French
securities laws and was exempt from take-over bid requirements of
Canadian securities laws. The Offer initially opened on October 6,
2008 and ended on November 21, 2008. The initial Offer results
(before reopening of the Offer, as described below) were announced by
the France AMF on December 2, 2008 and, on December 5, 2008, IAMGOLD
acquired 40,397,360 common shares of Euro Resources.

The Offer was reopened from December 4, 2008 to December 17, 2008. The
results of the reopened Offer were announced by the France AMF on
December 23, 2008. In connection with the reopened Offer, IAMGOLD
acquired today an additional 9,441,182 common shares of Euro Resources.

(c) The designation and number or principal amount of securities and the
offeror's securityholding percentage in the class of securities
immediately after the transaction or occurrence giving rise to the
obligation to file the news release:

IAMGOLD holds 49,838,542 of the 62,496,461 common shares of Euro
Resources currently outstanding (which includes the 1,905,001 common
shares of Euro Resources issued pursuant to the exercise of options by
certain directors and officers of Euro Resources during the course of
the Offer and the reopened Offer) representing 79.75% of the issued and
outstanding shares of Euro Resources.

(d) The designation and number or principal amount of securities and the
percentage of outstanding securities of the class of securities referred
to in paragraph (c) over which:

(i) the offeror, either alone or together with any joint actors, has
ownership and control:

IAMGOLD holds, directly or indirectly through its subsidiary
IAMGOLD-Quebec Management Inc., 52,838,639 of the 62,496,461
common shares of Euro Resources currently outstanding (which
includes the 1,905,001 common shares of Euro Resources issued
pursuant to the exercise of options by certain directors and
officers of Euro Resources during the course of the Offer and
the reopened Offer) representing 84.55% of the issued and
outstanding shares of Euro Resources.

(ii) the offeror, either alone or together with any joint actors, has
ownership but control is held by other persons or companies other
than the offeror or any joint actor:

N/A.

(iii) the offeror, either alone or together with any joint actors, has
exclusive or shared control but does not have ownership:

N/A.

(e) Market where the transaction or occurrence took place:

N/A

(f) The value, in Canadian dollars, of any consideration offered per
security if the offeror acquired ownership of a security in the
transaction or occurrence giving rise to the obligation to file a
news release:

On December 30, 2008, the aggregate value, in Canadian dollars,
calculated on the basis of the exchange rate in effect on such date,
of the consideration paid by IAMGOLD for the common shares of Euro
Resources was $19,618,020.90 (EUR11,329,418.40).

(g) The purpose of the offeror and any joint actors in effecting the
transaction or occurrence that gave rise to the news release, including
any future intention to acquire ownership of, or control over,
additional securities of the reporting issuer:

EURO and the IAMGOLD group of companies have similar interests in the
gold industry and share an economic interest in an asset, the Rosebel
gold mine. IAMGOLD has a 95% indirect interest in Rosebel Gold Mines
N.V., the owner of the mining rights and assets comprising the Rosebel
gold mine; and EURO's principal business activity is its holding of the
Rosebel Royalty. The Offer was motivated by IAMGOLD's desire to
increase its economic interest in the Rosebel gold mine with a view to
rationalizing the structure of the mine, and reducing cash costs at the
mine by effectively eliminating royalty payments on a consolidated
basis.

IAMGOLD reserves the right (x) to continue to purchase shares of Euro
Resources on the market, and, if it then meets all conditions set forth
by applicable laws and regulations (including direct or indirect
ownership of at least 95% of the share capital and voting rights of
Euro Resources), (y) to implement all steps required in order to
complete a compulsory acquisition (retrait obligatoire) of the shares
of Euro Resources. IAMGOLD intends, to the fullest extent possible, to
implement a legal integration of Euro Resources within the IAMGOLD
group of companies, it being specified that the determination of the
appropriate mechanism will require further analysis.

(h) The general nature and the material terms of any agreement, other than
lending arrangements, with respect to securities of the reporting issuer
entered into by the offeror, or any joint actor, and the issuer of the
securities or any other entity in connection with the transaction or
occurrence giving rise to the news release, including agreements with
respect to the acquisition, holding, disposition or voting of any of
the securities:

N/A.

(i) The names of any joint actors in connection with the disclosure required
by this report:

IAMGOLD-Quebec Management Inc.

(j) In the case of a transaction or occurrence that did not take place on a
stock exchange or other market that represents a published market for
the securities, including an issuance from treasury, the nature and
value of the consideration paid by the offeror;

See (f) above.

(k) If applicable, a description of any change in any material fact set out
in a previous report by the entity under the early warning requirements
or Part 4 in respect of the reporting issuer's securities:

N/A.

(l) If applicable, a description of the exemption from securities
legislation being relied on by the offeror and the facts supporting
that reliance:

The reopened Offer was made pursuant to French securities laws and
was exempt from take-over bid requirements of Canadian securities laws
pursuant to a decision of Canadian securities regulatory authorities
which is effective in all Canadian provinces. The reopened Offer was
made concurrently in France and in Canada. The reopened Offer was being
made on the same terms and completion of the reopened Offer was subject
to the same conditions in both jurisdictions.


Please note:

This entire press release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Marketwire's website at www.marketwire.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.

Si vous desirez obtenir la version francaise de ce communique, veuillez consulter le http://www.iamgold.com/fr/accueil.html.

Contact Information

  • IAMGOLD Corporation
    Elaine Ellingham
    SVP, Investor Relations & Communications
    (416) 360-4743 or Toll-free: 1-888-IMG-9999
    Email: info@iamgold.com
    Website: www.iamgold.com