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I-Minerals Inc. applies to extend the expiry date of certain share purchase warrants


January 10, 2017

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

Vancouver, B.C. - January 10, 2017 - I-Minerals Inc. (TSX.V: IMA; OTCQB: IMAHF) (“I-Minerals” or the “Company”) announces that it intends to make application to the TSX Venture Exchange to extend the expiry date of certain share purchase warrants issued on January 31, 2014 pursuant to a private placement. The proposed extension is disclosed in the following table:

Warrant Description Number of Warrants Exercise Price Current Expiry Date Proposed Expiry Date
warrants entitling the holders to purchase common shares 1,550,000 Cdn. $0.40 January 31, 2017 January 31, 2019

The proposed extension disclosed in the table above is subject to the Company receiving acceptance from the TSX Venture Exchange therefor.

About I-Minerals Inc.

I-Minerals is developing multiple deposits of high purity, high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in north central Idaho. A 2016 Feasibility Study on the Bovill Kaolin Deposit led by led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR of 25.8%. Initial CAPEX was estimated at $108.3 million with a 3.7 year After Tax payback. Other engineering services were provided by HDR Engineering, Inc. (all environmental components; hydrology / hydrogeology; road design); Tetra Tech, Inc. (tailings storage facility design); Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); and SRK Consulting (U.S.) Inc. (mineral resource estimation). Permitting work with the State of Idaho is well underway.

I-Minerals Inc.

Per: “Thomas M. Conway

Thomas M. Conway,
President & CEO

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by mean of a prospectus containing detailed information about the company and management, as well as financial statements.

Contact:
Barry Girling
877-303-6573 or 604-303-6573 x 102
Email: info@imineralsinc.com
Or visit our website at www.imineralsinc.com
Paul J. Searle, Investor Relations
877-303-6573 or 604-303-6573 x 113
Email: PSearle@imineralsinc.com

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 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.

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