IAMGOLD Discloses Investment in GoldON Resources, Buys Additional 1.5M Shares, 1.5M Warrants

IAMGOLD Corporation

today announced that, indirectly through a wholly owned subsidiary, it has acquired, as a result of a subscription to a private placement in the amount of $150,000, an additional 1,500,000 common shares of GoldON Resources Ltd. ("GoldON") and 1,500,000 warrants to acquire an equivalent number of common shares of GoldON. GoldON, which is focused on exploration in northern Ontario, was formerly known as Newcastle Minerals Ltd. Each warrant entitles the purchase of one common share for $0.15 in the first year and $0.20 in the second year of issuance. IAMGOLD's current indirect ownership of 3,500,000 common shares of GoldON represents approximately 13.6% of the outstanding common shares.  If the 1,500,000 common share purchase warrants were to be exercised, its indirect ownership would increase to 5,000,000 common shares of GoldON, or approximately 18.4% of the outstanding common shares. The common shares and warrants to purchase common shares of GoldON acquired indirectly today by IAMGOLD were acquired for investment purposes.  IAMGOLD does not have any present intention to acquire ownership of, or control or direction over, additional securities of GoldON.  It is the intention of IAMGOLD to evaluate its investment in GoldON on a continuing basis, and such holdings may be increased (including increases resulting from the exercise of the warrants) or decreased in the future.