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Joint Ventures

As part of its exploration strategy, IAMGOLD actively evaluates many exploration projects and when opportunities arise enters into Joint Ventures on compelling projects. Current Joint Ventures include:

Nelligan, Quebec

Partner: Earn-in option agreement with Vanstar Mining Resources Inc.

The Project: The Nelligan Gold Project, located 60 kilometres southwest of Chibougamau, Quebec, and 15 kilometres south of our Monster Lake Project, is held under an earn-in option to joint venture agreement with Vanstar. As of December 2019, the Company has exercised its option to increase its undivided interest in the Nelligan Joint Venture Project by a further 24% to now hold an aggregate undivided interest of 75% in the property. Nelligan is held under an earn-in option to joint venture agreement (IAMGOLD: 75%, Vanstar Mining Resources Inc.: 25%).

Effective October 22, 2019, reported mineral resources, on a 100% basis, comprised 96,990,000 tonnes averaging 1.02 grams of gold per tonne for 3,193,900 ounces of contained gold. A supporting NI 43-101 Technical Report was filed on SEDAR on December 4, 2019.

Approximately 4,700 metres of diamond drilling was completed in the first three quarters of 2022 to support the completion of an updated resource estimate expected by the end of 2022.

During the third quarter, Vanstar reported assay results from the 2022 drilling program which intersected multiple wide intercepts of gold mineralization, including the following highlights: 69.0 metres grading 2.24 g/t Au, 52.3 metres grading 1.60 g/t Au and 23.8 metres grading 3.21 g/t Au (see Vanstar news release dated July 6, 2022).

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