Iamgold 2025 Drill Program Extends Mineralization at Nelligan and Monster Lake
NEWS RELEASE TSX: IMG NYSE: IAG
IAMGOLD 2025 DRILL PROGRAM EXTENDS MINERALIZATION AT
NELLIGAN AND MONSTER LAKE
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario, September 15, 2025 – IAMGOLD Corporation (NYSE:IAG) (TSX:IMG) (“IAMGOLD” or the
“Company”) is pleased to announce assay results from the ongoing 2025 drilling programs at its Nelligan Project
(100% owned by IAMGOLD) and its Monster Lake Project (100% owned by IAMGOLD) confirming the extension
of the mineralized zones of both deposits. Nelligan and Monster Lake are located 15 km apart with the combined
exploration camp accessible by road approximately 60 km southwest of Chibougamau in central Quebec, Canada.
“I want to congratulate our exploration team as they continue to expand the mineralized envelope of Nelligan and
intersect high -grade veins at Monster Lake ,” said Renaud Adams, President and Chief Executive Officer of
IAMGOLD. “The Nelligan and Monster Lake camp has seen rapid growth from a relatively conservative drill
program prior to this year, and these results confirm our decision to continue to increase our exploration activit ies
within this camp. When you combine Nelligan with the high-grade satellite Monster Lake deposit, there are nearly
9 million ounces of resources in this mining camp already, positioning Nelligan among the largest gold projects in
Canada with significant potential for further growth. Together, the Nelligan and Monster Lake camp offers a
compelling opportunity for organic growth, further positioning IAMGOLD as a leading mid-tier mining company with
a high-quality pipeline in a stable, mining-friendly jurisdiction like Canada.”
Nelligan Drilling Program Highlights:
Zone 36:
• 20.6 metres (“m”) at 1.93 grams per tonne gold (“g/t Au”) and 13.5 m at 2.17 g/t Au, including 1.5 m
at 6.62 g/t Au in hole NE-25-239;
• 7.5 m at 4.28 g/t Au, including 1.5 m at 18.1 g/t Au in hole NE-25-244;
• 31.0 m at 0.97 g/t Au, 48.5 m at 1.32 g/t Au, including 2.8 m at 6.47 g/t Au, and 34.0 m at 1.13 g/t Au in
hole NE-25-256A;
• 36.5 m at 3.03 g/t Au in hole NE-25-265.
Renard Zone:
• 13.5 m at 3.15 g/t Au, including 6.0 m at 7.91 g/t Au in drill hole NE-25-239;
• 21.0 m at 1.45 g/t Au in drill hole NE-25-240A;
• 24.5 m at 3.24 g/t Au, including 1.5 m at 11.5 g/t Au in drill hole NE-25-244;
• 28.8 m at 1.00 g/t Au, including 0.5 m at 8.86 g/t Au in drill hole NE-25-248;
• 11.9 m at 1.98 g/t Au and 1.5 m at 115.5 g/t Au in drill hole NE-25-256A;
• 22.0 m at 1.62 g/t Au in drill hole NE-25-265.
Footwall Zone:
• 13.5 m at 2.70 g/t Au, including 1.5 m at 16.9 g/t Au in drill hole NE-25-240A;
• 21.0 m at 2.23 g/t Au, including 1.5 m at 13.1 g/t Au in drill hole NE-25-244;
• 21.0 m at 1.37 g/t Au, including 1.5 m at 6.71 g/t Au and 19.5 m at 1.54 g/t Au in drill hole NE-25-248;
• 43.5 m at 1.07 g/t Au in drill hole NE-25-252;
• 2.7 m at 17.5 g/t Au in drill hole NE-25-254;
• 7.5 m at 7.48 g/t Au, including 1.5 m at 25.4 g/t Au, and 34.5 m at 1.22 g/t Au in drill hole NE-25-256A.
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Monster Lake Drilling Program Highlights:
Megane Zone (in the Main Shear Zone):
• 3.0 m at 12.66 g/t Au, including 0.55 m at 54.4 g/t Au in drill hole ML-25-282;
• 6.9 m at 10.59 g/t Au in drill hole ML-25-286;
• 9.0 m at 23.4 g/t Au, including 5.0 m at 40.7 g/t Au, including 0.7 m at 191.5 g/t Au in drill hole ML-25-292.
Lower Shear Zone:
• 4.9 m at 127.3 g/t Au, including 0.65 m at 857 g/t Au in drill hole ML-25-283;
• 2.2 m at 39.4 g/t Au in drill hole ML-25-287.
Commenting on the Chibougamau Camp exploration progresses, Marie -France Bugnon, Vice President,
Exploration for IAMGOLD, stated: “I want to highlight and congratulate our exploration team for their continuous
dedication to conduct the drilling programs in a safe manner. The results of our winter drilling program demonstrate
the potential to expand the current resources on both deposits, Nelligan and the Megane Zone of Monster Lake
Project. The widths of the mineralized sequence intersected in the deeper hol es at Nelligan do not show any sign
of pinching and encourage further step-out drilling. At Monster Lake, results are very encouraging with typical high-
grade veins persisting in the general down -plunge of the zone , though the nature of the mineralization style will
require more close-spacing drilling.”
NELLIGAN DRILLING PROGRAM RESULTS
IAMGOLD is reporting assay results from 27 diamond drill holes totaling 11,58 3 metres completed as part of the
2025 exploration program on Nelligan between January and April 2025. This total includes 24 infill holes completed
within the resources shell and three deeper exploration holes testing the extension of the Nelligan deposit down -
plunge at depth. Few holes were recollared due to excessive deviation. Please refer to the two longitudinal sections
for drill hole locations that intersect the Renard and Footwall zones outlined in Figures 1 and 2 below. In addition,
the full assay results are provided in Table 1 at the end of this news release.
Figure 1 – Nelligan Long Vertical Cross section through the Renard Zone
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Figure 2 – Nelligan Long Vertical Cross section through the Footwall Zone
The 2025 diamond drilling program was designed to expand the deposit at depth and to the south below Zone 36,
alongside in-fill drilling to improve resource classification and to target selected areas including a portion of the
western part of the deposit which is best accessed via ice platform in winter. Mineralization associated with the
estimated Mineral Resources has been intersected over a strike length of more than 1.8 kilometres and to a depth
of 350 to over 550 vertical metres. The mineralized system of the Renard zone remains open along strike and at
depth.
Next Steps
The 2025 diamond drilling program has successfully extended the Nelligan deposit further down-plunge to the East
(below the 600 to 700 metres vertical depth) with the persistence and width of the typical mineralized sequence
intersected in all exploration holes. Notably this drilling may extend further south below Zone 36 which was not
systematically drilled below the 300 -350 metres vertical level. This will be investigated further with the current
program testing the deposit at depth. These results are cur rently incorporated into the deposit model and will
support future updated Mineral Resource estimates.
The next phases of diamond drilling will aim to complete a set of infill holes to convert some of the Inferred
Resources into the Indicated category to improve resources classification , investigate gaps such as the near -
surface eastern extension and will also continue to test the deeper extensions of the mineralized zones. Technical
studies will continue to advance metallurgical testing and other engineering studies.
Regional exploration activities and future exploration programs will continue and will be guided by the ongoing
incorporation and compilation of field exploration data to refine geological, geochemical and structural models to
help identify and prioritize additional targets for evaluation on the larger project land package.
About the Nelligan Deposit
Nelligan is a large -scale open pit gold exploration project fully owned by IAMGOLD. Nelligan has shown strong
growth potential with recent drilling confirming significant extensions of gold -bearing zones, particularly in the
Renard, Footwall, and Zone 36 areas. The project is located in a mining-friendly jurisdiction and is among the top
10 largest undeveloped gold deposits in Canada with high potential for further growth.
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The Nelligan Project is underlain by a portion of the Caopatina segment of the North Volcanic Zone of the Abitibi
Belt of the Superior Province. The property is centered on the E -W Druillette s syncline with sediments of the
Caopatina Formation bounded to the north and to the south by volcanic rocks of the Obatogamau Formation. The
North and South portions of the property are occupied by granodioritic to tonalitic intrusions. The project is
transected by numerous regional and local structures and deformation zones which can be important in the
localization of gold mineralization.
Gold showings of the area are observed broadly as two styles of mineralization: 1) Quartz-sulphide vein type, and
2) disseminated sulphide (pyrite) mineralization in hydrothermally altered units. Mineralization observed on the
Nelligan deposit is dominated by the latter and is characterized by hydrothermal alteration of the host meta -
sedimentary units displaying variable carbonatization, sericite, phlogopite and pervasive silicification; and
associated with widespread disseminated pyrite, varying from 1% to locally 15%, trace molybdenite and
occasionally fine grains of visible gold.
As of December 31, 2024, estimated Mineral Resources at the Nelligan deposit were comprised of 102.8 million
tonnes of Indicated Resources grading 0.95 grams of gold per tonne for 3.1 million ounces of contained gold and
166.4 million tonnes of Inferred Resources grading 0.96 grams of gold per tonne for 5.2 million ounces of contained
gold.
Open-Pit Mineral Resources (at 0.35 g/t Au cut-off)
Mineral Resources Statement – Nelligan Project
As of December 31, 2024
Classification Tonnes Grade Ounces
(000s) (g/t Au) (000s)
Total Indicated 102,845 0.95 3,125
Total Inferred 166,395 0.96 5,161
MONSTER LAKE DRILLING PROGRAM RESULTS
IAMGOLD is also reporting assay results from 16 diamond drill holes totaling 10,137.5 metres completed as part
of the ongoing 2025 Monster Lake Resources Area drilling program. These drill holes were completed between
December 2024 and early June 2025. This total includes 12 delineation holes completed around the resources
block model and four deeper exploration holes testing the extension of the Megane and Lower Shear Zones. Few
holes were recollared due to excessive deviation. Please refer to the longitudinal section for drill hole locations in
Figure 3. In addition, the full assay results are provided in Table 2 at the end of this news release.
The 2025 Monster Lake diamond drilling program was designed to expand the mineralized zones in the lateral and
depth extensions, with a few in -fill holes in selected areas where drill hole spacing left some untested gaps. The
drilling program tested the Ma in Shear Zone that hosts the Megane Zone and the parallel structure to the Main
Shear Zone and adjacent to the 325-Megane Zone, referred to as the Lower Shear Zone. All holes have intercepted
both structures and occasionally secondary structures.
Next Steps
The drilling program will continue at depth and along strike in areas where drill hole spacing remains too wide.
These areas will be progressively evaluated along the most prospective areas of the Monster Lake Shear Zones
and its secondary associated structures.
The exploration field activities results are continuously compiled to refine the geological and structural model to
help identify and prioritize various regional targets developed from targeting exercises to guide future drilling
programs.
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Figure 3 – Monster Lake Long Vertical Cross Section
About the Monster Lake Project
Monster Lake, located 15 kilometres north of Nelligan, is a high -grade underground gold project with a focus on
the Megane Zone. The project’s high -grade nature and exploration upside make it a valuable complement to
Nelligan in IAMGOLD’s Canadian portfolio.
The Monster Lake Project is underlain by Archean volcanic rocks of the Obatogamau Formation, which are
traversed by an important deformation corridor with associated gold -bearing mineralized structures and dyke
swarms. Exploration to date has traced this prospective structural shear zone system for at least 4 kilometres along
strike, along which several gold prospects have been discovered and a Mineral Resource delineated at the Megane
Zone.
The gold zones observed at Monster Lake are typically of orogenic style with mineralization mostly associated with
smokey quartz veins (grey to black) with free gold and sulphide minerals in the sheared wall rocks (pyrite, pyrrhotite,
chalcopyrite and sphalerite).
As of December 31, 2024, estimated Mineral Resources at the Monster Lake Project were comprised of 239,000
tonnes of Indicated Resources grading 11.0 grams of gold per tonne for 84, 200 ounces of contained gold and
1,053,000 tonnes of Inferred Resources grading 14.4 grams of gold per tonne for 48 8,500 ounces of contained
gold for an underground mining scenario.
Underground Mineral Resources (at 4.1 g/t Au cut-off)
Mineral Resources Statement - Monster Lake Project
As of December 31, 2024
Classification Tonnes Grade Ounces
(t) (g/t Au) (oz Troy Au)
Total Indicated 239,000 11.0 84,200
Total Inferred 1,053,000 14.4 488,500
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QUALIFIED PERSON AND TECHNICAL INFORMATION
The drilling results 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 qualified persons (“ QPs”) responsible for the planning, supervision and execution of the diamond drilling
programs and construction of the geological models and review of the technical information in this news release
are Shana Dickenson, P. Geo., Senior District Geologist, Adrien Zamparutti, P. Geo., Senior Geologist, and
Maxime Douëllou, P. Geo., Senior Project Geologist. Each of Ms. Dickenson, Mr. Zamparutti and Mr. Douëllou is
a QP for the purposes of NI 43-101 with respect to the technical information being reported on in this news release.
The technical information has been included herein with the consent and prior review of the above noted QPs.
The information in the news release was also reviewed and approved by Marie -France Bugnon, P.Geo. Vice -
President, Exploration for IAMGOLD, who is also a QP.
The design of the drilling programs and interpretation of results is under the control of IAMGOLD’s geological staff,
including QPs employing strict protocols consistent with NI 43 -101 and industry best practices. The sampling of,
and assay data from, the drill core is monitored through the implementation of a quality assurance - quality control
(QA-QC) program. Drill core (NQ size) is logged and samples are selected by the IAMGOLD geologists and sawn
in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample
intervals may vary from 0.5 to 1.5 metres in length depending on the geological observations. Half -core samples
are packaged and transported in sealed bags to ALS Minerals Laboratory (“ALS”) l ocated in Val-d’Or, Québec. A
formal chain -of-custody procedure was adopted for security of samples until their delivery at the laboratory.
Samples are coarse crushed to a -10 mesh and then a 1,000 gram split is pulverized to 95% passing -150 mesh.
ALS processes analytical pulps directly at their facilities located in Val -d’Or which is ISO / IEC 17025 certified by
the Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50 gram charge with
an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne, another pulp is
taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned
values greater than 10.0 grams per tonne are re-analyzed by pulp metallic analysis. IAMGOLD inserts blanks and
certified reference standards in the sample sequence for quality control. In accordance with recommendations from
our on-going QA-QC program, additional check analyses are underway at a secondary (umpire) laboratory.
About IAMGOLD
IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America
and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté
Gold Mine achieved full nameplate in June 20 25 and has the potential to be among the largest gold mines in
Canada. IAMGOLD operates Côté in partnership with Sumitomo Metal Mining Co. Ltd. In addition, the Company
has an established portfolio of early stage and advanced exploration projects within high potential mining districts.
IAMGOLD employs approximately 3,700 people and is committed to maintaining its culture of accountable mining
through high standards of Environmental, Social and Governance practices. IAMGOLD is listed on the New York
Stock Exchange (NYSE:IAG) and the Toronto Stock Exchange (TSX:IMG).
IAMGOLD Contact Information
Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Toll-free: 1 888 464 9999
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Table 1 Nelligan Project Drilling Results - 2025 Drilling program
Hole No. UTM NAD83 Zone18 AZ Dip Dep From To Interval
True
Width
(1)
Au (2) (3) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
Nelligan Resources Area - Depth Exploration
NE-25-239 523352.00 5473553.00 370.00 336 -65 1044 9.00 20.30 11.30 8.04 0.64 DAN ZONE
47.95 53.60 5.65 4.06 1.22
63.00 75.00 12.00 8.51 1.73
200.40 226.05 25.65 18.19 0.94 LIAM ZONE
330.00 350.60 20.60 15.25 1.93 ZONE 36
437.50 451.50 14.00 10.74 0.87
471.30 476.00 4.70 3.64 1.24
513.00 520.50 7.50 5.97 1.39
559.50 573.00 13.50 10.89 2.17
Including 565.50 567.00 1.50 1.21 6.62
589.50 604.50 15.00 12.16 0.94
616.50 630.00 13.50 10.98 3.15 RENARD ZONE
Including 621.00 627.00 6.00 4.88 7.91
724.50 732.00 7.50 6.27 1.75 FOOTWALL ZONE
741.00 744.00 3.00 2.51 2.79
877.50 885.00 7.50 6.83 0.68
895.50 913.50 18.00 16.64 0.82
918.00 922.50 4.50 4.20 4.40
Including 921.00 922.50 1.50 1.40 11.35
NE-25-240 523553.00 5473472.00 374.00 324 -60 33 Abandoned due to excessive deviation & No significant results
NE-25-240A 523553.00 5473472.00 374.00 324 -60 1169 140.10 152.50 12.40 9.65 2.03 DAN ZONE
170.80 176.75 5.95 4.66 0.85
181.20 183.40 2.20 1.73 9.23
Including 181.20 182.10 0.90 0.71 21.60
243.80 253.70 9.90 7.11 0.55 LIAM ZONE
290.00 292.20 2.20 1.58 2.40
361.70 375.60 13.90 10.35 0.55
441.00 447.00 6.00 4.64 1.23
615.00 622.50 7.50 6.52 0.68 ZONE 36
637.50 655.50 18.00 15.77 0.50
685.20 699.00 13.80 12.21 0.69
712.50 717.00 4.50 3.99 1.70 RENARD ZONE
732.00 753.00 21.00 18.80 1.45
Including 748.50 750.00 1.50 1.34 5.48
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Hole No. UTM NAD83 Zone18 AZ Dip Dep From To Interval
True
Width
(1)
Au (2) (3) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
783.00 796.50 13.50 12.25 0.88 FOOTWALL ZONE
802.50 814.50 12.00 10.95 0.66
819.60 825.00 5.40 4.94 2.69
849.00 856.50 7.50 6.97 1.22
910.50 913.50 3.00 2.84 2.57
979.50 993.00 13.50 13.15 2.70
Including 981.00 982.50 1.50 1.46 16.90
1026.00 1036.50 10.50 10.40 1.05
NE-25-244 523695.00 5473416.00 377.00 328 -59 1239 244.50 251.00 6.50 5.23 2.03 DAN ZONE
310.00 313.00 3.00 2.19 1.71 LIAM ZONE
343.50 352.50 9.00 6.61 2.01
521.50 538.50 17.00 12.97 0.62
574.70 585.00 10.30 8.09 0.52
682.00 689.50 7.50 6.34 4.28 ZONE 36
Including 686.50 688.00 1.50 1.27 18.10
797.00 812.00 15.00 12.88 1.74 RENARD ZONE
Including 803.45 808.25 4.80 4.12 3.03
824.00 833.00 9.00 7.74 1.04
837.50 846.50 9.00 7.75 2.13
Including 837.50 839.00 1.50 1.29 7.51
851.00 875.50 24.50 21.20 3.24
Including 857.00 858.50 1.50 1.30 11.50
Including 861.50 863.00 1.50 1.30 9.76
Including 874.50 875.50 1.00 0.89 21.50
905.50 926.50 21.00 18.72 2.23 FOOTWALL ZONE
Including 923.50 925.00 1.50 1.34 13.05
991.50 999.00 7.50 7.11 1.69
1007.00 1009.50 2.50 2.38 5.29
1023.00 1033.50 10.50 10.03 1.05
1069.50 1080.00 10.50 10.16 1.13
1093.50 1102.50 9.00 8.77 0.88
Nelligan Resources Area - Infill drilling
NE-25-241 522342.15 5474027.97 369.00 330 -50 150 No significant results
NE-25-242 522394.46 5474005.95 369.00 332 -50 135 No significant results
NE-25-243 522471.74 5474006.17 369.00 332 50 174 No significant results
NE-25-245 522449.19 5473952.01 369.00 332 50 303 63.00 74.70 11.70 9.83 0.63 RENARD ZONE