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joint-ventures

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:

Monster Lake, Quebec

Partner: Option Agreement with Toma Gold Corporation.

The Project: The Monster Lake Project, located 50 kilometres southwest of Chibougamau, Quebec, is held under an earn-in option to joint venture agreement with TomaGold Corporation. The Company holds an undivided 50% interest in the property, and holds an option to earn a further 25% undivided interest, for a total 75% undivided interest in the Project.

Effective December 31, 2018, reported mineral resources for the Monster Lake Project, on a 100% basis, comprised 1.1 million tonnes of inferred resources grading 12.14 g/t Au for 433,300 ounces, assuming an underground mining scenario (see news releases dated March 28, 2018 and February 19, 2019). A supporting NI 43-101 Technical Report was filed on SEDAR on May 10, 2018.

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.

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