INV Metals Reports 2016 Results and Provides Corporate Update - Seite 2

2016 Highlights

• Continued the advancement of the 100% owned Loma Larga, gold project located in Ecuador.
• Completed a robust PFS based on a 3,000 tpd mining operation with a positive after-tax return of 26.3% at $1,250/oz gold and a pre-tax NPV (@5%) of $489.9 million.
• Completed the Company's first equity financing in four years to raise $3 million in anticipation of advancing the long-lead items required for the FS on Loma Larga.
• Maintained the Company's excellent CSR programs and solidified community support for Loma Larga.
• Adapted to continuing, very positive changes within Ecuador, both on a fiscal and perception basis.
• Continued to build upon strong relationships within the Government of Ecuador, resulting in dedicated government support for the Company to advance the Loma Larga project.
• Initiated building a strong executive and technical team focused on advancing the Loma Larga project to production.
• Renewed investor relations activities to increase the Company's visibility in the market; resulting in a 536% increase in the Company's share price, year over year.
• Initiated geotechnical and hydrological and hydrogeological drilling to define the ramp location and confirm previous test work within the deposit.

2017 Highlights and Targets

• Completed $27.6 million bought deal financing for the advancement of the Loma Larga project, including the initiation of a FS, exploration at the Company's Loma Larga project and other exploration properties within Ecuador. IAMGOLD maintained its 35.6% pro-rata ownership in the financing and we are very pleased with the continued support of both the Company and Project.
• Announced the commencement of formal negotiations with the Government of Ecuador of the definitive terms and form of the Mining Exploitation Contract for Loma Larga.
• Announced the appointment of Mr. William (Bill) Shaver, P. Eng., as Chief Operating Officer.
• Commenced the process to award the preparation of the FS on Loma Larga to further evaluate the economics of the Project. The FS is expected to be completed within 18 months.
• In keeping with the Company's strategy to acquire prospective exploration properties within Ecuador, the Company bid on and was awarded three prospective projects. The Company intends to aggressively pursue the acquisition of additional high priority targeted properties within Ecuador's Andean Mineral Belt.
• Commenced $3 million exploration program at Loma Larga:
  • to explore for the western extension of the known resources where geotechnical drilling intersected anomalous gold values within silica altered zones up to 400 metres west of the known resources;
  • to drill test the northern extension of the known resources and historical drill indications of possible porphyry gold mineralization;
  • to explore for high-grade gold feeder zones which are interpreted to be the source of the highest grade gold values within the known resources;
  • to explore below historical drilling of the deposit which typically has not tested below 250 metres from surface, in areas where previous drilling indicated possible stacked gold lenses.
• Commenced a $2 million exploration program on the Company's recently acquired greenfields exploration properties within Ecuador consisting of surface mapping, geochemical sampling and geophysical surveys with the goal to defining additional drill targets by year-end.

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