Located in west Mali, Africa, the Siribaya Gold Project, which now includes the Diarindi Permit, is a joint venture
exploration project funded by IAMGOLD Corporation, managed by a joint IAMGOLD-Merrex management team and
operated by Merrex. IAMGOLD may earn up to 50% interest in the Siribaya Gold Project by expending $10.5 Million over
four years. The $3,000,000 2009 exploration program was comprised of diamond drilling, soil and termite mound
geochemical sampling and an airborne magnetometer and spectrometer survey.
The termite mound geochemical survey identified new gold-anomalous zones that were not evident from prior surveying or
drilling including two strong north-south trending parallel gold-mineralized structures hosting the previously identified Zones
1A and 1B. Of particular note, the Zone 1A anomaly is much more strongly identified by the termite sampling than it was by
prior conventional soil sampling, and is notably stronger than Zone 1B which already has an initial resource estimate.
The 2009 diamond drilling program almost tripled the strike length of the continuously mineralized Zone 1B from 300 metres
to 900 metres. Prior to this extension, Zone 1B, which is only one of multiple targets on the Siribaya mega-structure, already
had an initial indicated resource* of 2.1 million tonnes grading 1.81 g/t Au (123,000 contained ounces) and inferred
resources of 5.7 million tonnes grading 1.74 g/t Au (319,000 contained ounces) at cut-offs of 0.5 g/t Au and the
mineralization is still open to the north, south and at depth. An updated resource estimate including the 2009 drill results is
underway and a significant increase in the estimated resource is expected.
* The initial resource estimate was prepared in February 2009 by ACA Howe International Limited and is compliant with
the disclosure requirements of NI 43-101.
A detailed airborne geophysical survey over the full concession area, including Diarindi, was also completed and data
analysis and integration with geology, drilling results and geochemistry is underway.
The Siribaya Gold Project is managed jointly by a Merrex and IAMGOLD Corporation technical committee. Merrex is the
program Operator. IAMGOLD may assume operatorship after exploration expenditures of $5,000,000. Jean-Marc Gagnon,
P. Eng., Project Manager at Siribaya, is the Qualified Person as per NI 43-101 and is responsible for the information in this
news release.