January 22, 2015

Vancouver, B.C. — January 22, 2015 - I-Minerals Inc. (TSX.V: IMA; OTCQX: IMAHF) (the “Company”) announces that it has issued an additional 360,567 bonus shares and an additional 360,567 non-transferable bonus warrants to a company controlled by a director in respect of cash advances totaling $900,000 U.S. pursuant to a loan agreement. The bonus shares were issued at a deemed price of $0.20 Cdn. per share. The bonus warrants are exercisable at prices ranging from $0.217 to $0.25 Cdn., and will expire on the earlier of December 1, 2016 and the date the amount of the individual advance pursuant to which the bonus warrants were issued, together with all accrued interest thereon, had been repaid in full. All of the bonus shares, and any additional shares which may be issued pursuant to the exercise of the bonus warrants, are subject to a hold period in Canada until May 14, 2015.

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.

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 may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of risk factors beyond its control, and actual results may differ materially from the expected results.

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