July 30

IAMGOLD\'s Boto Project, Senegal Exploration Update

IAMGOLD Corporation (\"IAMGOLD\" or \"the Company\") (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) is pleased to announce the discovery of multiple zones of significant gold mineralization at its wholly-owned Boto Property in Senegal, West Africa. The Company controls an extensive land package of 630 square kilometres in southeast Senegal covering an important segment of the Birimian Kedougou-Kenieba greenstone belt. The concessions also cover a significant strike extent of the prolific Senegalo-Malian Shear System that is spatially associated with several important gold mines including Loulo and the world class Sadiola gold deposit in adjacent Mali. Results from IAMGOLD\'s drilling campaigns at Boto completed chiefly during the 2007 and 2008 exploration seasons have identified several new and important mineralized zones at Boto, including the six kilometre-long Guemedji Trend and the parallel Koulou Trend. \"The drill results at Boto underscore the importance of grassroots exploration to IAMGOLD, providing us with the potential to add low-cost ounces on wholly-owned assets,\" stated Joseph Conway, President & CEO. \"West Africa is a key jurisdiction for our long-term strategic direction at IAMGOLD and grassroots exploration is one of several ways we are growing our project pipeline.\"

Boto 2, 4 and 6 zones - Guemedji Trend (supporting Tables and Maps at end of release)

The Guemedji Trend (Figures 1 and 2) is a six kilometre long mineralized corridor first recognized through an innovative termite mound sampling program. The three individual anomalies are separated by large, relatively untested areas where geochemical sampling has been shown to be ineffective.

The 2007 and 2008 drilling programs (6,362 metres of RC drilling and 2,664 metres of diamond drilling respectively) specifically targeted the Boto 4 and Boto 6 anomalies (Figures 3 and 4). A 100 to 150 metre wide, pervasive alteration zone was delineated in RC drilling. The zone contains numerous intersections between 10 and 15 metres in width and all exceeding 1.0 g/t Au. Diamond drilling returned a number of significant intercepts at depth to the west of the alteration corridor.

Significant diamond drill results include:

DBDD-2045: 12m @ 2.34g/t Au from 98m

DBDD-2046: 32m @ 1.24g/t Au from 144m and 20 m @ 2.55g/t from 193m

DBDD-2047: 19m @ 1.65g/t Au from 124m

DBDD-2048: 12m @ 2.84g/t Au from 90m

Prior to 2007, a total of 790 metres of reconnaissance rotary air blast (RAB) drilling and 1,973 metres of RC drilling was completed at Boto 2 (Figure 5). This work resulted in the delineation of a NNE-trending zone of near surface oxide mineralization. Drill highlights include the following:

DBRAB-2019: 12m @ 3.27g/t Au from 0m

DBRC-2050: 8m @ 3.61g/t Au from 26m

Boto 5 - Koulou Trend (supporting Tables and Maps at end of release)

Boto 5 is located 1.5 km northwest of Boto 6 on the regionally extensive Koulou Trend (Figures 1 and 2). A comprehensive exploration program incorporating termite mound sampling, trenching (533 metres), RC drilling (5,029 metres) and diamond drilling (2,113 metres) has defined a ENE-striking gold zone extending over 800 metres in length, with significant intersections returned from the westernmost 500 metres (Figure 6 and long section figure 7). Deeper diamond drilling completed during 2007 (2,389 metres) intersected numerous high-grade gold intercepts accompanied by intense hydrothermal alteration, although the continuity of mineralization has not been conclusively demonstrated. Best results include:

Boto5TR-00008: 9m @ 60.02g/t Au

Boto5TR-00022: 13m @ 11.54g/t Au

DBDD-2012: 15m @ 23.68g/t Au from 62m

DBDD-2018: 9m @ 5.89g/t Au from 78m

DBRC-2004: 20m @ 2.90g/t Au from 77m

DBRC-2007: 12m @ 16.98g/t Au from 22m

DBRC-2020: 12m @ 6.80g/t Au from 83m

(note: TR, DD and RC refer to trenches, diamond drill holes, and reverse circulation drill holes respectively.)

2008 Exploration Program

IAMGOLD currently expects to spend US$1.7 million on the 2008 Boto exploration program. Terratec Geophysical Services is currently carrying out a 33-line kilometre High Resolution Dipole-Dipole IP geophysical survey (\"HIRIP\") to help delineate the underlying geology, structure and mineralization of the identified trends. This geophysical work is scheduled for completion in October-November following the annual rainy season. Additional QA/QC validation work is also planned for select drill holes to ensure that analytical results conform to the Company\'s QA/QC protocols and standards of care. A drilling program is also scheduled to start in the fourth quarter.

QAQC

IAMGOLD implements standard operating and quality assurance procedures to ensure that all sampling techniques and sample results meet international reporting standards. At Boto, trench and drill samples were dispatched to Chimitec (Val D\'Or; 2000-2002) or Abilab/ALS Chemex (Bamako; 2002-2008) with inclusion of certified standards (excepting 2007 RC holes and six 2007/08 diamond holes), blanks and field duplicates. At the laboratory, samples are jaw crushed and bulk pulverised to a 75A-A?1/2m particle size (85%) with a 50g aliquot subsequently analyzed for gold by lead collection fire assay with AAS finish. Samples returning grades above 10g/t Au are re-submitted for metallic sieve gold analysis. ALS Chemex inserts standards and blanks into each sample batch and completes random duplicate gold analyses as part of its own quality management reporting system. All ALS Chemex internal standards have been interrogated with no reported failures.

ABOUT IAMGOLD

IAMGOLD is the top mid-tier gold producer, with annual production of close to 1 million ounces from eight different gold operations located in North America, South America and Africa. IAMGOLD also owns non-gold assets that provide significant cash flow and development projects that provide a strong platform for continued growth. IAMGOLD has delivered seven consecutive years of annual dividends to its shareholders and the Company\'s Gold Money Policy demonstrates IAMGOLD\'s commitment and confidence in the gold market.

Qualified Person/Quality Control Notes

Mr. Charles Beaudry, P.Geo, an employee of IAMGOLD Corporation has visited the Boto property, and has reviewed and audited the technical information and all the QAQC results for the Boto Project in this news release. The foregoing person is a \"qualified person\" for the purposes of National Instrument 43-101 with respect to the mineralization being reported on. The technical information has been included herein with the consent and prior review of the above noted qualified person. The qualified person has verified the data disclosed underlying the information or opinions contained herein.

Forward Looking Statement

This press release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company\'s expectations, changes in world gold markets and other risks disclosed in IAMGOLD\'s most recent Form 40-F/Annual Information Form on file with the US Securities and Exchange Commission and Canadian provincial securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Please note:

This entire press release may be accessed via fax, e-mail, IAMGOLD\'s website at www.iamgold.com and through Marketwire\'s website at www.marketwire.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.

Si vous desirez obtenir la version francaise de ce communique, veuillez consulter le http://www.iamgold.com/fr/accueil.html.

Please note: To view the \"Supporting Tables\", please visit the following link:

http://media3.marketwire.com/docs/img730t.pdf

Please note: To view \"Figure 1 - Location of Boto Permit and Priority Target Areas\", please visit the following link: http://media3.marketwire.com/docs/729imgb.pdf

Please note: To view \"Figure 2 - Boto Project drill hole collar location plan and contoured image of surface geochemistry\", please visit the following link: http://media3.marketwire.com/docs/729imgc.pdf

Please note: To view \"Figure 3 - Drill hole collar location plan for Boto 4\", please visit the following link: http://media3.marketwire.com/docs/729imgd.pdf

Please note: To view \"Figure 4 - Drill hole collar location plan for Boto 6\", please visit the following link: http://media3.marketwire.com/docs/729imge.pdf Please note: To view \"Figure 5 - Drill hole collar location plan for Boto 2\", please visit the following link: http://media3.marketwire.com/docs/729imgf.pdf

Please note: To view \"Figure 6 - Drill hole collar location plan for Boto 5\", please visit the following link: http://media3.marketwire.com/docs/729imgg.pdf

Please note: To view \"Figure 7 - Schematic long section of Boto 5 highlighting potential SW-plunge of mineralisation\", please visit the following link: http://media3.marketwire.com/docs/730imgh.pdf

Contacts:
IAMGOLD Corporation
Joseph F. Conway
President & CEO
(416) 360-4712 or Toll Free: 1-888-IMG-9999

IAMGOLD Corporation
Carol T. Banducci
Chief Financial Officer
(416) 360-4742 or Toll Free: 1-888-IMG-9999
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.iamgold.com

Renmark Financial Communications Inc.
John Boidman
(514) 939-3989
(514) 939-3717 (FAX)
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Renmark Financial Communications Inc.
Henri Perron
(514) 939-3989
(514) 939-3717 (FAX)
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.renmarkfinancial.com


SOURCE: IAMGOLD Corporation

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