November 20, 2013
Vancouver, B.C. - November 20, 2013 - I-Minerals Inc. (TSX.V: IMA; US IMAHF) (the “Company”)
announces that at its annual and Special Meeting of shareholders held November 19, 2013 shareholders of the Company approved all matters put forward including the re-election of incumbent directors Allen Ball, Thomas Conway and Barry Girling. Shareholders also elected Gary Childress to the Board of Directors. Other matters approved included the renewal of the Company’s Incentive Stock Option Plan and appointment of BDO Canada, LLP as auditors for the ensuing year.
Management of I-Minerals welcomes the return of Mr. Childress to its Board of Directors and the knowledge and guidance he can provide the Company gained during his many years in senior management of industrial minerals and related companies. The Company has also granted Mr. Childress an option to purchase 150,000 shares at an exercise price of $0.25 for a period of five years.About I-Minerals Inc.
I-Minerals is developing the Bovill Kaolin Deposit, part of the larger Helmer-Bovill property. The Bovill Kaolin Deposit, a source of high purity K-Spar and quartz, as well as high aspect ratio halloysite in addition to kaolin, was the subject of a January 2013 Prefeasibility study by SRK Consulting (US) Inc. that estimated the project after tax NPV6%
at $150 million, and IRR of 28% with a three year payback on initial capital costs of only $67 million I-Minerals Inc.
Per: “Thomas M. Conway”
Thomas M. Conway,
President & CEO
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.
877-303-6573 or 604-303-6573
Or visit our website at www.imineralsinc.com
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