IAMGOLD Provides Quarterly Exploration Update

TORONTO, ONTARIO, Apr 29 (MARKET WIRE) --
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) is pleased
to provide an update on exploration activities. Exploration expenditures
totaling $53.1 million are planned for 2009 of which $34 million is for
greenfields exploration initiatives. Activities and new projects will
focus on the Company's key areas, namely the Guiana Shield, Andes and
Brazil regions of South America, West Africa, and Quebec.

SOUTH AMERICA

Suriname - Rosebel

In 2009, significant exploration programs at IAMGOLD's flagship Rosebel
mine are planned on near-mine targets adjacent to the known deposits, as
well as for the earlier stage prospects on the Company's 619 square
kilometre land package surrounding the Rosebel mining lease.

In 2008, the 64,760 metres near-mine drilling successfully replaced
depletion and in fact, increased proven and probable reserves 9% above
replacement, contributing 639,000 new ounces to reserves. For 2009, a
90,000 metre near-mine exploration diamond drilling program is expected
to further convert resources, as well as identify and define extensions
of the known deposits. In Q1, the program was on schedule with 14,840
metres completed mostly in the areas around the producing Royal Hill,
Koolhoven and Pay Caro and Mayo deposits. Of this, 9,649 metres were
infill holes and 5,191 metres tested for extensions of gold
mineralization at depth and along strike of known mineralization.

Outside of the central Rosebel mining lease, exploration continues on the
surrounding concessions as part of a three year exploration program that
was initiated in 2008 to evaluate the Company's entire land position at
Rosebel. IAMGOLD has applied both detailed and regionally extensive auger
geochemical surveys to provide preliminary screening of the property
package. This phase of the exploration program is scheduled for
completion by the end of 2009. In January 2008, the land package was
enlarged by an additional 212 square kilometres with the addition of two
concessions held under option agreements.

More advanced prospects on the surrounding concessions include the
Mamakreek zone, where a 3,716 metre diamond drill program was completed
in the fourth quarter of 2008. Mamakreek is located on the northern
structural trend that hosts the Pay Caro-East Pay Caro, Koolhoven, and
J-Zone deposits. The drill program intersected numerous anomalous to
economic grades including 8.49 g/t Au over 4.5 metres and 5.46 g/t Au
over 6.0 metres. These results were sufficiently encouraging to warrant a
follow up 1,675 metre, 25 hole reverse circulation drill program which
was recently completed. Several other geological and geochemically
anomalous trends will be drill tested in 2009 as part of a planned 11,000
metre diamond and reverse circulation drill program.

At the Sarakreek Project, located 100 kilometres south of the Rosebel
Mine, exploration continues to follow up on highly encouraging drill
intersections, including 222.2 g/t Au over 7.5 metres, 31.2 g/t Au over
12 metres, 6.8 g/t Au over 21 metres and 7.9 g/t Au over 4.5 metres, that
were reported in May of last year. In 2008, 5,843 metres of diamond
drilling was completed, evaluating additional targets within the known
trend that had been extended by geochemical surveys and on new
mineralized areas located six kilometres east of the known Sarakreek
trend. Encouraging results, including 8.15 g/t Au over 2.6 metres and
3.24 g/t Au over 5.7 metres were encountered along promising structural
trends that need further assessment. The Sarakreek exploration program
currently planned for 2009 will include an additional 4,000 metres of
drilling and detailed follow-up work in these highly prospective areas.

Guyana - Eagle Mountain Project

A 15-hole, 3,000 metre diamond drill exploration program is underway at
IAMGOLD's Eagle Mountain project in Guyana, with 3 holes, totaling 503
metres completed as of March 31. This program follows-up on significant
results obtained from IAMGOLD exploration drill programs carried out in
2008, as well as historic drilling of the property. In 2008, some of the
best intersections included 4.7 g/t Au over 12.5 metres and 2.6 g/t Au
over 24.5 metres. Comprehensive field work, in conjunction with 3D
modeling of the geology and drill results, indicates that gold is hosted
in shallow-dipping thrust faults that range up to 20 metres in thickness
and broadly conform to the surface expression. The geologic model
indicates potential for a laterally extensive and shallow,
saprolite-hosted gold resource.

Brazil - Minas Gerais and Project Generation

The IAMGOLD-controlled Minas Gerais Project covers 1,455 square
kilometres within the historically prolific gold district of Minas Gerais
in Brazil. Field surveys continue to add new Archean lode gold targets
across the property. A 4,000 metre diamond drill program is planned to
commence in April 2009 with the initial focus on targets within the
Congonhas lineament, one of several high priority trends that follow the
trace of 18th century surface mine workings.

Elsewhere in Brazil, IAMGOLD continues to consolidate its more than 600
square kilometre land position in Para State over promising areas
underlain by Archean greenstone belts. Target identification has
commenced with regional mapping and geochemistry. An airborne magnetic
and radiometric geophysical survey is planned for the third quarter of
this year.

AFRICA

Senegal

Mali - Siribaya, Merrex JV & Boto Project

In December 2008, IAMGOLD entered into a definitive option agreement with
Merrex Gold Inc. ("Merrex") to earn a 50% interest in its Siribaya gold
project. The 700 square kilometre project area is contiguous to, and
complements IAMGOLD's wholly-owned Boto property in eastern Senegal. Like
Boto, the Merrex project area is underlain by the prolific Birimian
volcano-sedimentary terrane that hosts most of West Africa's gold
production. As part of the agreement, IAMGOLD must spend a minimum of
Cdn$ 3.0 million in exploration expenditures within the first year. In
preparation for a 5,000 metre diamond drill program, field work was
initiated in the first quarter that included termite mound geochemistry,
regolith mapping, and re-logging existing diamond drill holes in
conjunction with target identification involving data integration and
interpretation of previous Merrex drilling. The drill program, scheduled
to commence in May 2009, is designed to test and extend the important
Siribaya gold trend, where Merrex has identified an indicated resource of
2.1 million tonnes grading 1.81 g/t Au (123,000 contained ounces) and
inferred resource of 5.7 million tonnes grading 1.74 g/t Au (319,000
contained ounces) at cut-offs of 0.5 g/t Au. A large detailed airborne
magnetometer survey over Siribaya is planned for Q2.

At IAMGOLD's wholly-owned Boto project, located in eastern Senegal near
the Mali border, the current phase of exploration diamond drilling is
nearing completion, with 17 holes totaling 5,057 metres completed. The
drill program is focused on gold mineralization within the 6 km long
Guemedji trend identified in 2008, which hosts a 100 to 150 metre wide
corridor of Birimian rocks exhibiting intense albite alteration
overprinted by chlorite-calcite magnetite alteration with late-stage
quartz-tourmaline-pyrite-gold and hematite-pyrite gold mineralization.
Numerous intersections of 10-15 metre width, with grades exceeding 1.0
gram / tonne gold have been drilled, but continuity has not yet been
demonstrated. Further work is warranted and a 5,000 metre reverse
circulation drill program is planned, to follow up on positive results
within the Guemedji trend and the adjacent Boto 1 trend.

Burkina Faso - Essakane Project

In the first quarter of 2009, IAMGOLD completed the acquisition of
Orezone Resources Inc. and its 90%-owned Essakane gold project in
northeastern Burkina Faso. Construction is underway with production
expected in the second half of 2010 from the Essakane Main Zone (EMZ)
which hosts a reserve of over 3 million ounces of gold. As part of the
transaction, IAMGOLD acquired rights to a 1,148 square kilometre package
of contiguous exploration concessions surrounding the 100 square
kilometre Essakane exploitation permit. Previous exploration activities
were focused on the Essakane Main Zone (EMZ). However, eight satellite
targets have been tested to varying degrees with about 70 percent of the
regional exploration drilling focused on three of these prospects.

Although the Essakane deposit hosts over 9 years of reserves, IAMGOLD
considers exploration a priority as additional oxide resources would
allow the operation to optimize the full 7.5 Mtpa planned mill capacity
beyond the current plan, and provide a positive impact on production
levels after year two. Consequently, $2.5 million exploration spend is
planned for the newly formed Essakane Exploration Department to initiate
systematic exploration of the property package in 2009.

High priority targets on the Essakane exploitation permit will be drilled
commencing in the third quarter of 2009, including extensions of the EMZ
to the northwest and southeast, and the Falangountou zone, located 7
kilometres east of the Essakane resource. Extensive regional geochemical
coverage exists for the property, but it is incomplete. Shallow aircore
drilling is planned to sample bedrock below shallow surficial sand sheets
that cover large parts of the concession area. This is to test for
extensions of known trends and to identify additional mineralized
structures.

CANADA

Doyon Division, Quebec

Doyon Mine

At the Doyon Mine, an exploration program designed to test the main Doyon
mineralized structures at depth below the existing shaft continued in
2008 with 17 holes totaling 7,344 metres completed. A number of holes
intersected significant high grade intervals over narrow widths including
hole 14545-08 that assayed 19.3 g/t Au over 2.5 metres and hole 14549-08
with 14.2 g/t Au over 4.0 metres. These intersections are within
undeveloped portions of the mine stratigraphy. For 2009, $1.3 million is
allocated to follow up on the encouraging results as well as pursue
additional targets at depth and peripheral to the deposits within the
main mine stratigraphy. Two drills are currently operating underground.
The Doyon Mine is currently scheduled to close in Q2 2009, but may extend
into Q3 2009.

Westwood Development Project

At IAMGOLD's wholly-owned Westwood advanced exploration-stage project,
located 1.5 kilometers east of Doyon, the raise bore for the exploration
shaft was completed in early March 2009 and the shaft sinking has
commenced. The headframe construction is scheduled for completion by the
end of May 2009.

In 2009, 73,500 metres of diamond drilling are planned of which 41,200
metres will contribute to upgrading some of the existing 3.1 million
ounces of inferred resources while the remaining 32,300 metres will
systematically test the highest priority exploration target areas along
the three-kilometre strike length of the mineralized corridors. The 14
level drift (at a vertical depth of 840 metres) that provides access from
the lower levels of the Doyon Mine, facilitated a significant amount of
drilling and sampling of the Westwood deposit in 2008 and this will
continue in 2009. However, with the shaft sinking underway, it is
expected that additional underground drill set ups will be available from
new levels early next year.

One deep hole was drilled at Westwood in late 2007, to test at depth
below the known mineralization of Zone 2. As previously reported, this
hole (R14281B-07) intersected high grade mineralization of 11.6 g/t Au
over a core length of 10.0 metres and 23.6 g/t Au over 5.0 metres in two
lenses of Zone 2, at vertical depths of approximately 2.3 kilometres.
Subsequently, two additional deep holes were done by wedging the initial
hole twice. Four additional intersections returned significant gold
mineralized intersections. The one wedged hole intersected 32.2 g/t Au
over 1.0 metres and 34.2 g/t Au over 5.0 metres and a second wedged hole
intersected 11.2 g/t Au over 4.0 metres and 20.9 g/t Au over 7.0 metres.
Drilling has been slow due to the depths and oblique angles to the
stratigraphy. Further drill testing of this deep potential will await
better drilling access that the underground development will provide.

IAMGOLD completed a Cdn$345 million equity financing in March and is well
capitalized and generating strong cash flow from operations. Construction
is moving forward quickly on the Essakane mine in Burkina Faso, where
production is expected to commence in the second half of next year. In
addition, the company has set aggressive growth targets and is pursuing
additional acquisition opportunities at the exploration, development and
production stages within its primary focus areas.

ABOUT IAMGOLD

IAMGOLD is a leading mid-tier gold mining company producing approximately
one million ounces from 7 mines on 3 continents. IAMGOLD is focused on
growth with a target to reach 1.8 million ounces gold production by 2012.
IAMGOLD is uniquely positioned, with a strong financial base, together
with the management and operations expertise to execute on our aggressive
growth objectives. IAMGOLD is focused in West Africa, the Guiana Shield
of South America and in Quebec, Canada with a pipeline of development and
exploration projects. IAMGOLD continues to assess accretive acquisition
opportunities with a strategic fit. IAMGOLD is listed on the Toronto
Stock Exchange ("IMG"), the New York Stock Exchange ("IAG") and the
Botswana Stock Exchange.

Technical Information and Qualified Person/Quality Control Notes

The technical disclosure and mineral resource estimates contained in this
news release have been prepared in accordance with National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The
technical information has been included herein with the consent and prior
review of the below noted qualified persons. The Qualified Persons have
verified the data disclosed, including sampling, analytical and test data
underlying the information or opinions contained herein.

The following table lists the Qualified Persons responsible for reviewing
for each project and that has reviewed the contained technical
disclosure.

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Property Qualified Person
responsible for the project

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Rosebel & Sarakreek Exploration, Marie-France Bugnon, General Manager
Suriname; Eagle Mountain Project, Exploration - Guiana Shield
Guyana; Minas Gerais, Brazil
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Rosebel Mine, Suriname Gabriel Voicu, Geology Superintendent

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Siribaya, Merrex, Mali Jean-Marc Gagnon, Exploration Manager,
Mali of Merrex Gold Inc.
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Boto, Mali Charles Beaudry, Senior Exploration
Manager
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Burkina Faso Jamie Rogers, Chief Geologist

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Doyon Mine, Mooshla Property, Nicole Houle, Senior Explorations
Westwood, Canada Project Supervisor

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Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission (the "SEC") permits
mining companies, in their filings with the SEC, to disclose only those
mineral deposits that a company can economically and legally extract or
produce. We use certain terms in this press release, such as "mineral
resources", that the SEC guidelines strictly prohibit us from including
in our filings with the SEC. U.S. investors are urged to consider closely
the disclosure in the IAMGOLD Annual Report on Form 40-F. A copy of the
2008 Form 40-F is available to shareholders, free of charge, upon written
request addressed to the Investor Relations Department.

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.

Contacts:
IAMGOLD Corporation
Joseph Conway
President & CEO
416 360 4712 or Toll-free: 1 888 464 9999

IAMGOLD Corporation
Michael Donnelly
Senior Vice President, Exploration
416 933 4731 or Toll-free: 1 888 464 9999

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