KITONGO GOLD PROJECT MINERAL RESOURCE

A Mineral Resource estimate for the Main Zone mineralization at Kitongo was completed in 2006. The estimate was prepared by independent consulting company Helman and Schofield (H&S) at the direction of IAMGold.

The majority of mineralisation of economic interest lies within the weathered horizon which typically extends to around 50 metres depth. Mineralisation is less well developed in fresh rock. The mineralisation interpretation used for resource estimate comprised moderately east dipping, northwest, and north-northeast striking mineralised domains surrounded by generally barren material, and overlain by a thin, variably mineralised outcropping laterite layer. The deposit has been tested by 50 metre spaced traverses of aircore, reverse circulation and minor diamond drilling, with a small number of 25 metre spaced infill lines. The data available to H&S was of insufficient detail and quality to allow classification of resource estimates as Measured or Indicated. H&S accepts responsibility for classifying the resource as Inferred provided BUT nominates a Competent Person to accept responsibility for the validity and accuracy of the data upon which the estimate is based.

Recoverable gold resources have been estimated over approximately 600 metres strike length and to a depth of 135 metres below surface using the MIK technique. The model estimates resources into panels with dimensions of 25 metres (east) by 25 metres (north) by 5 metres (elevation).

A variance adjustment has been applied to derive estimates of recoverable resources under assumptions regarding the degree of selectivity likely to apply to an open pit mining operation. The resource estimates are constrained to the current land surface, and extend to around 135 metres below surface.

The 2006 H&S Mineral Resource is summarised in the table below.