VANCOUVER, BC–(Marketwired – May 19, 2016) –
I-Minerals Inc.
(TSX VENTURE: IMA)
(OTCQX: IMAHF) (“the Company”) is pleased to announce that it has filed an Application for Reclamation Plan Approval with the Idaho Department of Lands (IDL). The application contains a description of mine operation and reclamation plans including tailings storage facilities and water quality management measures, approval of which is required before any mining operations can commence. The Company expects a response from IDL to the application within 60 days.
“This is an important step down our path towards production,” stated Thomas Conway, President and CEO of I-Minerals. “Filing of the permit application and the Application for Reclamation Plan Approval gets us a step closer to a ‘Bankable Feasability Study,’ a point at which we would not only have robust economic results, but also the authorization to mine the Bovill Kaolin Deposit, a unique source of four high value mineral products: potassium feldspar, high purity quartz, kaolin, and halloysite.”
See the Company’s news release of March 8, 2016 wherein it announced the results of its Feasibility Study by GBM engineers, which included an after tax NPV(6%) of US$249.8 million with an after tax IRR of 25.8% with a 3.7 year payback.
Manuel Rauhut, PE (Idaho) of HDR Engineering, a qualified person (“QP”) as defined by NI 43-101 has reviewed and approved the contents of this release.
I-Minerals Inc.
per: “Thomas M. Conway”
Thomas M. Conway,
President & CEO
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.
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.
Contact:
I-Minerals Inc.
Barry Girling
877-303-6573 or 604-303-6573 x 102
Email: [email protected]
Or visit our website at www.imineralsinc.com
Paul Searle
877-303-6573 or 604-303-6573 x 113
Email: [email protected]
