I-Minerals Completes Phase 2 Drilling at Kelly's Hump; Bulk Sample Sent for Pilot Plant Testing - Seite 2

As noted in the Company's August 15, 2013 press release, the January 2013 Prefeasibility study (after tax NPV₆ $150 million; 28% IRR; 3 year payback; $67 million initial CAPEX; $84 million life of mine CAPEX including sustaining capital), assumed that defined halloysite reserves were only sufficient to support about 10 years of halloysite production. The recently completed drilling in the Kelly's Hump area is expected to provide halloysite reserves for over 20 years when the Prefeasibility study is updated which, if realized as expected, would improve upon the project's already robust economics.

"The drill program was completed on time and on budget thanks to our experienced Idaho staff," stated Thomas Conway, President and CEO of I-Minerals. "We look forward to the completion of the reserve calculation and confirmation that Helmer-Bovill property hosts a unique combination of one of the largest deposits of high purity, high aspect ratio halloysite currently known, the largest high quality K-feldspar deposit in North American and abundant resources of quartz that can be readily processed into a high purity product."

A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals Inc. and has reviewed and approved the contents of this release.

About I-Minerals

I-Minerals is developing multiple deposits of high purity-high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in western Idaho. A 2013 Prefeasibility Study completed by SRK Consulting (USA) Inc. highlights the potential of the Helmer-Bovill property: after tax NPV₆ of $150 million; 28% IRR; 3 year payback and $67 million initial CAPEX; $84 million CAPEX including life of mine sustaining capital. Ongoing development work is focused on upgrading the probable reserve to a proven reserve as the Company moves through the feasibility process towards production.

I-Minerals Inc.

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.

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.

I-Minerals Inc.
Barry Girling
877-303-6573
604-303-6573
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www.imineralsinc.com