IAMGOLD Corporation (IAMGOLD or the Company) announced that the Government of the Republic of Senegal has approved the mining permit application for the Boto Gold Project ("Boto" or the "Project") for an initial period of 20 years, principally under the provisions of Senegal's 2003 mining code. The receipt of the mining permit positions the Project for a development decision and eventual production. Boto is one of IAMGOLD's most advanced growth projects. Based on the results of various development and operating optimizations undertaken since the completion of the Feasibility Study ("FS") for the Project, Boto is expected to produce an average of 160,000 ounces of gold per year during the first six years of operations, averaging 130,000 ounces of gold per year at all-in sustaining costs of $842 per ounce sold over a mine life of approximately 11 years. With expected initial capital expenditures of $271 million, the Project represents an after-tax Net Present Value (6% discount) of $219 million using a gold price assumption of $1,350 per ounce.