Operations

2014 Mineral Reserves and Resources

Mineral resources (“resources”) and mineral reserves (“reserves”) have been estimated as at December 31, 2014 pursuant to Canadian securities regulatory requirements, specifically the requirements of National Instrument 43-101 and the definitions of resources and reserves incorporated therein. Consistent with National Instrument 43-101, resources are divided into “inferred,” “indicated” and “measured” based on the level of geological confidence in the mineralization, and reserves, into “probable” and “proven” upon at least a pre-feasibility study having been undertaken on the indicated and measured resources. Measured and indicated resources are inclusive of proven and probable reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability and are not guaranteed to have economic viability. Inferred resources are too speculative geologically to have any economic considerations applied to them that would allow a translation into reserves.

Cautionary Notes to U.S. Investors

The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. IAMGOLD uses certain terms in the Annual Report, such as “measured,” “indicated,” or “inferred,” which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in the IAMGOLD Annual Reports on Forms 40-F filed with the SEC.

GOLD MINERAL RESERVES

100% BASIS

PROVEN PROBABLE
As at December 31, 2014 Tonnes
(000)
Grade
(g/t)
Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)
Attributable
Contained
Ounces
(000)
Rosebel1 76,371 1.1 2,603 17,269 1.0 552
Essakane1 - - - 108,821 1.1 3,886
Sadiola2 - - - 57,428 2.1 3,841
Westwood3 301 7.3 71 2,070 7.0 468
Total proven reserves 76,672 1.1 2,674
Total probable reserves 185,588 1.5 8,747
Total proven and probable reserves 262,260 1.4 11,421

ATTRIBUTABLE RESERVES


PROVEN PROBABLE
As at December 31, 2014 Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Rosebel1 72,552 1.1 2,473 16,406 1.0 524
Essakane1 - - - 97,939 1.1 3,497
Sadiola2 - - - 23,545 2.1 1,575
Westwood3 301 7.3 71 2,070 7.0 468
Total proven reserves 72,853 1.1 2,544
Total probable reserves 139,960 1.3 6,065
Total proven and probable reserves 212,814 1.3 8,608
* Mineral reserve tonnage, grade and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

GOLD MINERAL RESOURCES

(Inclusive of Mineral Reserves)

100% BASIS

MEASURED INDICATED INFERRED
As at December 31, 2014 Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Rosebel1 126,712 1.0 4,124 50,993 1.0 1,678 19,014 0.9 542
Essakane1 - - - 124,432 1.2 4,702 14,830 1.3 628
Sadiola2 12,971 0.8 320 102,146 1.9 6,275 5,523 1.6 291
Westwood3 199 11.7 75 1,455 11.1 520 9,729 10.9 3,397
Côté Gold4 - - - 278,600 0.9 7,716 52,300 0.7 1,241
Boto, Gold5 - - - 22,796 1.7 1,232 10,957 1.8 635
Pitangui6 - - - - - - 4,070 4.9 638
Total measured resources 139,882 1.0 4,519
Total indicated resources 580,422 1.2 22,123
Total measured and indicated resources7,8 720,304 1.2 26,642
Total inferred resources 116,423 2.0 7,373

ATTRIBUTABLE RESOURCES

MEASURED INDICATED INFERRED
As at December 31, 2014 Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Rosebel1 120,376 1.0 3,918 48,443 1.0 1,594 18,063 0.9 515
Essakane1 - - - 111,989 1.2 4,232 13,347 1.3 565
Sadiola2 5,138 0.8 131 41,880 1.9 2,573 2,264 1.6 119
Westwood3 199 11.7 75 1,455 11.1 520 9,729 10.9 3,397
Côté Gold4 - - - 257,705 0.9 7,137 48,378 0.7 1,148
Boto Gold5 - - - 22,769 1.7 1,232 10,957 1.8 635
Pitangui6 - - - - - - 4,070 4.9 638
Total measured resources 125,894 1.0 4,124
Total indicated resources 484,268 1.1 17,287
Total measured and indicated resources7,8 610,161 1.1 21,412
Total inferred resources 106,809 2.0 7,018

1 Rosebel and Essakane mineral reserves have been estimated as of December 31, 2014 using a $1,300/oz gold price and mineral resources have been estimated as of December 31, 2014 using a $1,500/oz gold price and have been estimated in accordance with NI 43-101.

2 Mineral reserves at Sadiola have been estimated as of December 31, 2014 using an average of $1,100/oz gold price and mineral resources have been estimated as of December 31, 2014 using a $1,600/oz gold price and have been estimated in accordance with JORC code.

3 Westwood mineral reserves have been estimated as of December 31, 2014 using a $1,300/oz gold price and mineral resources have been estimated as of December 31, 2014 using a 6.0 g/t Au cut-off over a minimum width of 2 metres and have been estimated in accordance with NI 43-101.

4 Côté Gold mineral resources have been estimated as of December 31, 2014 using a $1,500/oz gold price and have been estimated in accordance with NI 43-101.

5 Boto mineral resources have been estimated as of December 31, 2014 using a $1,500/oz gold price and have been estimated in accordance with NI 43-101.

6 Pitangui mineral resources have been estimated as of December 31, 2014 using a $1,500/oz gold price and have been estimated in accordance with NI 43-101.

7 Measured and indicated gold resources are inclusive of proven and probable reserves.

8 In mining operations, measured and indicated resources that are not mineral reserves are considered uneconomic at the price used for reserves estimations, but are deemed to have a reasonable prospect of economic extraction.

* Mineral resource tonnage, grade and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

Gold Technical Information and Qualified Person/Quality Control Notes

The mineral resource estimates contained in this report have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The “Qualified Person” responsible for the supervision of the preparation and review of all resource and reserve estimates for IAMGOLD is Lise Chénard, Eng., Director, Mining Geology. Lise has worked in the mining industry for more than 30 years, mainly in operations, project development and consulting.

She joined IAMGOLD in April 2013 and acquired her knowledge of the Company’s operations and projects through site visits, information reviews and ongoing communication and oversight of mine site technical service teams or consultants responsible for resource and reserve modeling and estimation.

She is considered a “Qualified Person” for the purposes of NI 43-101 with respect to the mineralization being reported on. The technical information has been included herein with the consent and prior review of the above noted Qualified Person. The Qualified Person has verified the data disclosed, and data underlying the information or opinions contained herein.