IMA Conference Call Announcement and Letter to Investors
21 Maio 2008 - 7:10PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: IMR)(FRANKFURT: IMT) -
Dear Shareholders and Investors:
IMA has organized a conference call for Thursday, May 22 at
10:00 a.m. (Pacific Time; see call-in details at the end of this
letter) giving you the opportunity to listen to a presentation on
the Hushamu project followed by a question and answer session. As a
preamble to the conference call, below is a brief summary of the
Hushamu asset with a comparative table comparing Hushamu to high
profile and economic projects located in British Colombia.
Hushamu Asset:
230.9 million tonnes of measured and indicated resource
containing:
2.08 million ounces of gold
1.39 billion pounds of copper
Undefined Molybdenum, Rhenium, and Silver credits
And
53 million tonnes of inferred resource
0.6 million ounces of gold
0.33 billion pounds of copper
Undefined Molybdenum, Rhenium, and Silver credits
- IMA has an option to earn up to 70% for a work investment of
$19 million over 4 years, of which only 10% is committed in year
1.
- IMA believes the exploration potential is excellent.
Table 1 - Hushamu asset compared to comparable projects in BC:
----------------------------------------------------------------------
Copper
Equivalent
Property Tonnes grade(i) Comments
----------------------------------------------------------------------
Hushamu 230.9 million 0.62% Strong Exploration
Measured and Upside
Indicated Resource
----------------------------------------------------------------------
Hushamu 53 million 0.65% Strong Exploration
Inferred Resource Upside
----------------------------------------------------------------------
Kemess South 51.8 million 0.42% Producing
Proven Reserve Strong 2007 profits
----------------------------------------------------------------------
Mt Milligan 334 million 0.45% Management made go
Proven and forward production
Probable Reserve decision May 2008
----------------------------------------------------------------------
Copper Mountain 227.5 million 0.37% Beginning Feasibility
Measured and
Indicated Resource
----------------------------------------------------------------------
(i) pricing used to calculate copper equiv. is based on Canaccord-Adams
long term estimate: $1.75 Cu/lb, $30 Mo/lb, $700 Au/oz, $12.5 Ag/oz.
Metallurgical recoveries and net smelter returns are assumed to
be 100%
The preceding Table 1 comparisons indicate that Hushamu has
similar or superior size and grade when compared to the above
projects which are near to or are producing mines in British
Columbia.
There are 20 plus new drill targets existing within Hushamu. A
very compelling gold target called NW Expo intersected 204 metres
of 0.74 g/t gold and 182 metres of 0.58 g/t gold in a separate
drillhole during the 2007 drilling program completed by Western
Copper. Surface outcrops identify similar alteration in a zone
approximately 200 metres wide by 1500 metres long. This is a very
significant target adding greatly to the project upside potential
especially when combined with other untested targets. The NW Expo
zone will be a focus of the 2008 drilling program. Our technical
team has high expectations for the exploration potential of the
Hushamu project.
Four Year Outlook:
Gold and moly will potentially be large contributors to the
project's value during the next four years of the 70% earn in
option with Western Copper. IMA's exploration technical team (as
operator) led by Dr. Greg Myers will advance Hushamu toward
feasibility study executing infill drilling and testing in excess
of 20 existing known targets.
Shareholders should be looking forward to an exciting
exploration campaign thus creating an excellent potential
investment. The merger and acquisition team will continue to search
for additional projects of value in North and South America.
We thank you for the continued support. I look forward to you
joining us for the conference call.
Sincerely,
Mr. Joseph Grosso, President & CEO
Important Notice re: Conference Call: IMA's Management and
Technical Team will be hosting a conference call for shareholders
and analysts on Thursday, May 22, 2008 at 10:00 a.m. Pacific Time,
1 p.m. Eastern Time, featuring a technical overview of the Hushamu
Project. To participate in the call, dial 1-866-400-3310 North
American Toll-Free, or 416-850-9144 for local Toronto and
international calls. Please phone in approximately ten minutes
prior to the time of the call.
Cautionary Note to U.S. Investors: This news release may contain
information about adjacent properties on which we have no right to
explore or mine. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents
filed with the SEC. U.S. investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral
deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this
release.
Contacts: IMA Exploration Inc. Joseph Grosso President & CEO
Toll Free: 1-800-901-0058 or (604) 687-1828 IMA Exploration Inc.
Sean Hurd Vice President, Investor Relations Toll Free:
1-800-901-0058 or (604) 687-1828 (604) 687-1858 (FAX) Email:
info@imaexploration.com Website: www.imaexploration.com
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