I-Minerals Updates Bankable Feasibility Study Progress - Seite 3

Mineral Marketing: Samples from the GMT pilot plant are being distributed to customers for testing. Overall, the halloysite and metakaolin products are being well received. Samples from the MRL pilot plant will be distributed to customers upon completion of the pilot plant work; however, most customers have already received K-spar and quartz samples from prior pilot plant work and are generally pleased with the product quality. A market report, prepared by Roskill of the UK, is expected to be received and reviewed the week of January 18, with a summary press release to follow.

"While the delay until mid-February was not envisioned at the commencement of the feasibility study process, I-Minerals will still have delivered a quality study in a comparatively short period of time as compared with most mainstream metals mines," commented Thomas Conway, President and CEO of I-Minerals. "Throughout the process our priority has been to accrue as much benefit as possible to local suppliers and stakeholders and we have succeeded in generating widespread support for the project. While the resource capital markets are challenging at the present time, we do take some comfort in the fact that the majority of our mineral products are consumed in the United States, are generally sold under contract, and some, such as K-spar, are in short supply domestically. All told, we believe we have a robust project that is not dependent on foreign markets for its success."

Michael Short, BE, FIMMM CEng, Chief Executive Officer of GBM Engineers, LLC is a qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the contents of this release.

About I-Minerals Inc.

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 north central Idaho. A 2014 Prefeasibility Study on the Bovill Kaolin Deposit completed by SRK Consulting (USA) Inc. demonstrated robust economics. A full feasibility study is being led by GBM Engineers LLC with an expected completion in the first quarter of 2016 with full permitting expected in the second quarter of 2016.