IMA I Minerals Inc

I-Minerals Inc. (TSX VENTURE:IMA)(PINKSHEETS:IMAHF) (the "Company") announces
that it has received renewed State of Idaho Mineral Leases (the "Mineral
Leases") for all ground comprising the Helmer-Bovill Project. The Company
previously held 12 Mineral Leases that were consolidated into 10 leases which
cover an identical land package. In addition, the Company applied for and has
been granted an 11th Mineral Lease covering a new area believed to be highly
prospective for halloysitic clays. 


The Mineral Leases were issued by the Idaho Department of Lands (the "IDL") and
entitle I-Minerals to develop the deposits on the Helmer-Bovill property
including the Bovill Kaolin deposit and the MC tailings project and, subject to
required permitting being in place, produce mineral products. The Mineral Leases
are for a period of 10 years and are subject to a 5% Gross Royalty payable to
the State of Idaho.


Permitting is in place for the production and sale of quartz - feldspar sands
from the MC Tailings project. With the leases now renewed, the Company is
preparing a series of multi-ton test samples for a number of interested parties
in the tile and cement industries. Assuming the samples meet the standards of
these companies, I-Minerals sees opportunity for several tens of thousands of
tons of sales in the current fiscal year.


Additional drilling and associated work is planned for the Bovill Kaolin
deposit. As noted in the Company's press release of January 3, 2013 and detailed
in a 43-101 report available on SEDAR and the Company's website, the Bovill
Kaolin deposit has been the subject of a Prefeasibility Study completed by SRK
Consulting (US) Inc, Tetra Tech and HDR Inc. that calculated an after tax NPV6
of $150 million with an IRR of 28%. The primary objective of the 2013 work
program is to complete sufficient drilling of the Probable Mineral Reserve as
defined in the Prefeasibility study so that it can be upgraded to a Proven
Reserve. Survey crews are expected on the property shortly to survey in the
collar locations for the in-fill drilling program.


"In these very challenging resource markets, the Bovill Kaolin deposit
represents an exceptional opportunity given estimated initial Capital Costs of
only about $66 million, free cash flow averaging about US$21 million per year
and a three year payback," stated Thomas Conway President and CEO of I-Minerals.
"While we have identified a number of potential ways to improve upon the
prefeasibility results as we move towards feasibility, with the scarcity of
capital for resource projects our low Capital Costs together with strong cash
flow make this a much easier project to bring to production when compared with
most gold or metal mines." 


A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals Inc. and has
reviewed and approved the contents of this release.


I-Minerals Inc.

Thomas M. Conway, President & CEO

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. 


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 may contain forward-looking statements based on assumptions
and judgments of management regarding future events or results that may prove to
be inaccurate as a result of risk factors beyond its control, and actual results
may differ materially from the expected results.


FOR FURTHER INFORMATION PLEASE CONTACT: 
I-Minerals Inc.
Barry Girling
877-303-6573 or 604-303-6573
info@imineralsinc.com
www.imineralsinc.com

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