OTCLINE - IAMGOLD Announces Positive 2005 Results

March 9,2006

IAMGOLD announced its 2005 year-end results, with significant improvements over year-ago numbers.

TSX Trading Symbol: IMG

NYSE Trading Symbol: I AG

Fully Diluted Shares Outstanding: 153.9 MM

FINANCIAL HIGHLIGHTS:

Net earnings for the year were $20.5 million, approximately a 75% increase over 2004. Fourth quarter earnings were $6.2 million compared to $2.9 million for the fourth quarter of 2004.
Operating cash flow for the year was $34.0 million, a 150% increase over 2004. Fourth quarter operating cash flow was $18.0 million or $0.12 per share compared to negative operating cash flow in the fourth quarter of 2004.
Attributable production in 2005 was 447,000 ounces, in line with guidance provided in March 2005 of 450,000 ounces. Average Gold Institute (GI) cash cost of production was $276 per ounce compared to March 2005 guidance of $270 per ounce. Attributable production for the fourth quarter of 2005 was 117,000 ounces at an average GI cash cost of $276 per ounce.
Excellent exploration results continued during 2005 at the Company’s Quimsacocha project in Ecuador. On October 28, a resource estimate was released showing indicated resources of 2.8 million ounces of gold.
With a gold price of $513 per ounce at December 31, 2005, the unrealized gain on the Company’s holdings of gold bullion increased to $27.3 million ($0.19 per share).
On March 3, 2006, the shareholders of Gallery Gold Limited (GGL) voted in favour of a transaction whereby IAMGOLD will acquire all of the shares of GGL. Completion of the transaction is expected to occur on March 14.

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