IAMGOLD reports On Greenfields Exploration 

TORONTO, ON - Following positive exploration results in 2010, IAMGOLD reported a record $43.5 million greenfields spend for 2011, which provides the Company the opportunity to aggressively advance new and existing growth opportunities. Expensed and capitalized greenfields expenditures in 2010 are estimated at $37.6 million. Nearly 118,000 metres of drilling are planned across all sites in 2011, with an additional 46,425 metres of aircore drilling budgeted for Essakane. The planned drilling comprises a significant proportion of the overall budget and an important allocation of expenditures in resource development. It further reflects the Company's strategic commitment to organic growth "through the drill bit."

Steve Letwin, President and CEO of IAMGOLD, said, "We have a very robust greenfields program with a plethora of good projects. Led by our SVP Exploration, Mike Donnelly, our exploration team has created significant growth potential for the Company. We hold, or control through third-party agreements, a majority interest in more than 20,000 square kilometres of mineral lands in our exploration portfolio in nine countries of West Africa and the Americas. These lands are located in proven districts or geologic terranes with demonstrated gold potential, and provide an important strategic exploration advantage in the face of increased competitive pressures as the bull market for gold enters its eleventh straight year." The Company holds extensive exploration land packages surrounding the Company's Rosebel and Essakane mines, and 25% of the budget for greenfields expensed and capitalized exploration is allocated to exploration in these districts. Essakane Mine, Burkina Faso In Burkina Faso, the Essakane mine is an important source of potential resource growth. Notable goals achieved in 2010 include the identification of significant new drill targets within the mine permit, and the potential expansion of In Suriname, 16 kilometres north of the Rosebel mine, extensive exploration was carried out in 2010 on the Company's Charmagne gold discovery, including 10,387 metres of core drilling in 76 holes. Geology and resource modelling is nearing completion and metallurgical testwork is in progress. A preliminary scoping study, or concept study, is scheduled for completion in the first quarter of 2011 and is expected to provide the basis for a constrained in-pit inferred resource. In 2011, the Company plans to test more than 12 grassroots projects in Peru, Brazil and the Canadian province of Quebec, is carrying out reconnaissance evaluation of promising areas in Colombia and is searching for advanced exploration opportunities or acquisitions. An exploration office was re-opened in Val d'Or in 2010 as part of a plan to reactivate three projects in the Abitibi region of Quebec. In September 2010, Strongholds Metals Inc. ("Stronghold") entered into a definitive Earn-In and Joint Venture Agreement with IAMGOLD on the Company's Eagle Mountain gold project in Guyana. Stronghold has the option to acquire 100% of the property under certain circumstances and completion milestones, including minimum exploration expenditures of $3.5 million and issuance of a Mining Permit, in consideration of $11 million and the issuance of 6 million Stronghold shares. For more information contact: (416) 360-4743, email: [email protected].