IAMGOLD Expands Gold Production Pipeline in Canada With Acquisition of Trelawney

IAMGOLD Corporation IAG and Trelawney Mining and Exploration Inc. today announced that they have entered into a definitive agreement whereby IAMGOLD will acquire, through a plan of arrangement, all of the issued and outstanding common shares of Trelawney. Trelawney is a Canadian junior mining and exploration company, focused on the development of the Cote Lake Deposit located adjacent to the Swayze Greenstone Belt in northern Ontario. Under the terms of the Agreement, each Trelawney shareholder will receive $3.30 in cash for each Trelawney share held. The transaction price represents a 36.6% premium based on Trelawney's 20-day volume weighted average price ("VWAP") for the period ending April 26, 2012.