October 25, 2016
Vancouver, B.C. (October 25, 2016) — I-Minerals Inc. (TSX.V: IMA; OTCQB: IMAHF) (“the Company”) is pleased to provide the following update on its Application for Reclamation Plan Approval with the Idaho Department of Lands (IDL), a document containing a description of mine operation and reclamation plans including tailings storage facilities and water quality management measures, approval of which is required before any mining operations can commence (the “Mining Permit Application”). As noted in I-Minerals’ press release of May 19, 2016 wherein it advised that the Company had filed the Mining Permit Application, two rounds of comments have been received from the IDL and subsequently responded to by the Company. The majority of the questions on the initial response required providing additional information primarily related more detailed water balance calculations, more detailed best management practices for snow removal and drainage, and additional geotechnical data for waste dumps.
As part of the latest correspondence with the IDL, additional geotechnical information on waste dumps was requested given that late in the feasibility process a decision was made to relocate the waste dumps to an area which reduced the distance overburden needed to be transported. This area had not been subject to geotechnical drilling as had other areas of the property. Waste dumps are areas where overburden stripped to expose the primary clay ore is stored until it is redistributed as part of the reclamation efforts or closed and reclaimed in-place.
Additional exploration via a trenching program overseen by STRATA, Inc. in conjunction with I-Minerals staff was completed the week of September 5, 2016. The exploration results combined with additional laboratory testing were used to refine previous stability analyses specific to the revised waste dump configurations and locations. Ultimately, the most recent phases of geotechnical preliminary design were coordinated with the updated waste dump information into a single, combined geotechnical document creating a single, current resource of geotechnical information. The combined report results have been incorporated into an updated Mining Permit Application which has now been resubmitted to the IDL. The Company looks forward to hearing from the IDL on the updated permit application.
“We recognized that when we relocated the waste dumps to optimize the mining costs that the new dump area had not been subjected to thorough geotechnical exploration,” stated Thomas Conway, President and CEO of I-Minerals. “While we believed the probability of storing overburden material would cause any geotechnical issues was remote, undertaking the additional geotechnical sampling confirms the mine plan and design meets the industry standards for performance. Efforts such as this geotechnical work, dry stacking of the tailings to reduce water requirements and relocating roads to avoid recreation areas, demonstrates our determination to build a mine with as great a positive impact on local stakeholders as possible.”
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per: “Thomas M. Conway”
Thomas M. Conway,
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS 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 world wide 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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