IAMGOLD ANNOUNCES CLOSING OF SALE OF ITS INTEREST IN THE BAMBADJI JOINT VENTURE IN SENEGAL All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
IAMGOLD ANNOUNCES CLOSING OF SALE OF ITS INTEREST IN
THE BAMBADJI JOINT VENTURE IN SENEGAL
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario, August 10 , 2026 – IAMGOLD Corporation (TSX:IMG, NYSE:IAG) (“IAMGOLD” or the
“Company”) today announced the completion of the sale of its indirect 35% interest in the Bambadji Joint Venture
and its attributable interest in the Bambadji Sud exploration permit in Senegal (together, the “Bambadji JV”) to
Fortuna Mining Corp. (“Fortuna”) as part of a transaction that generated approximately $70 million in cash proceeds
to IAMGOLD, before taxes and transaction costs. The divestiture monetizes a non -core exploration asset and
supports IAMGOLD's continued focus on its existing operating and development portfolio.
The Bambadji JV controls the Bambadji and adjacent Bambadji Sud exploration permits located in the Kédougou
region of southeastern Senegal, approximately 850 kilometres southeast of Dakar along the border with Mali. Total
consideration payable by Fortuna to the joint venture partners , Barrick Mining Corporation (“Barrick”) and
IAMGOLD, on a combined 100% basis consists of: $200 million in cash payable on closing; and a 0.5% net smelter
return (“NSR”) royalty, capped on the first 1. 75 million ounces of gold produced from the Bambadji permit. The
Bambadji JV was originally governed by a joint venture agreement dated May 23, 2016 between subsidiaries of
IAMGOLD (35%) and Barrick (65%).
IAMGOLD's attributable share of the cash consideration is approximately $70 million, before Senegalese capital
gains taxes and transaction costs, with the Company also retaining its proportionate share of the NSR royalty.
Fasken Martineau DuMoulin LLP acted as legal counsel to IAMGOLD in connection with the transaction.
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 is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30
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, including the large -scale Nelligan
Mining Complex located in Quebec, Canada. IAMGOLD employs approximately 3,800 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, Business Development & Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Toll-free: 1 888 464 9999
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
All information included or incorporated by reference in this news release, including any information as to the Company’s
vision, strategy, future financial or operating performance and other statements that express management’s expectations
or estimates of future performance or impact, including statements in respect of the prospects and/or development of the
Company’s projects, other than statements of historical fact, constitutes forward -looking information or forward -looking
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statements within the meaning of applicable securities laws (collectively referred to herein as “forward -looking
statements”) and such forward-looking statements are based on expectations, estimates and projections as of the date
of this news release. Forw ard-looking statements are g enerally identifiable by the use of words such as “may”, “will”,
“should”, “would”, “could”, “continue”, “expect”, “budget”, “aim”, “can”, “focus”, “forecast”, “anticipate”, “estimate”,
“maintain”, “believe”, “intend”, “plan”, “schedule”, “guidance”, “outl ook”, “potential”, “seek”, “targets”, “cover”, “strategy”,
“during”, “ongoing”, “subject to”, “future”, “objectives”, “opportunities”, “committed”, “prospective”, “likely”, “progress”,
“strive”, “sustain”, “effort”, “extend”, “remain”, “pursue”, “predict”, or “project” or the negative of these words or other
variations on these words or comparable terminology.
In particular, forward -looking statements in this MD&A include, without limitation, those under the headings “About
IAMGOLD”, “Highlights”, “Outlook”, “Environmental, Social and Governance”, “Operations”, “Financial Condition" and
“Quarterly Financial Revi ew” and include, but are not limited to, statements with respect to: the estimation of mineral
reserves and mineral resources and the realization of such estimates; operational and financial performance including
the Company’s guidance for and actual results of production, ESG performance, costs and capital and other expenditures
such as exploration and including depreciation expense and effective tax rate; long-term value and capital allocation; the
updated life-of-mine plan, ramp -up assumptions and other project metrics including operating costs, processing rates,
throughput and operational optimization initiatives in respect of the Côté Gold Mine; expected production of the Côté Gold
Mine; expected benefits from the operational improvements and de-risking strategies implemented or to be implemented
by the Company; mine development activities; the Company’s capital allocation and liquidity, including potential returns
of capital to shareholders; the timing and ability to repatriate excess cash from Essakane ; the composition of the
Company’s portfolio of assets including its operating mines, development and exploration projects; the advancement and
potential development of the Company’s exploration and development projects, including the Nelligan Mining Compl ex;
the sale of its Malian asset; permitting timelines and the expected receipt of permits; inflation, including global inflation
and inflationary pressures; global supply chain constraints; environmental verification, biodiversity, including
commitments related thereto and social development projects; plans, targets, proposals and strategies with respect to
sustainability, including third party data on which the Company relies, and their implementation; commitments with respect
to sustainability and the im pact thereof; commitments with respect to greenhouse gas emissions and energy transition;
commitments related to social performance, including commitments in furtherance of Indigenous relations; the ability to
secure alternative sources of consumables of c omparable quality and on reasonable terms; workforce and contractor
availability, labour costs and other labour impacts; the future price of gold and other commodities; equity financings,
foreign exchange rates and currency fluctuations; financial instruments; hedging strategies; impairment assessments and
assets carrying values estimates; safety and security concerns in the jurisdictions in which the Company operates and
the impact thereof on the Company’s operational and financial performance and financia l condition; and government
regulation of mining operations.
The Company cautions the reader that forward -looking statements are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by management, are inherently subject to significant business,
financial, operational and oth er risks, uncertainties, contingencies and other factors, including those described below,
which could cause actual results, performance or achievements of the Company to be materially different from results,
performance or achievements expressed or implie d by such forward -looking statements and, as such, undue reliance
must not be placed on them. Forward-looking statements are also based on numerous material factors and assumptions,
including as described in this news release with respect to: the Company’s present and future business strategies;
operations performance within expected ranges; anticipated future production and cash flows; local and global economic
conditions and the environment in which the Company will operate in the future; the price of pre cious metals, other
minerals and key commodities; projected mineral grades; international exchanges rates; anticipated capital and operating
costs; the availability and timing of required governmental and other approvals for the construction of the Company ’s
projects.
Risks, uncertainties, contingencies and other factors that could cause actual results, performance or achievements of the
Company to be materially different from results, performance or achievements expressed or implied by such forward -
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looking statements include, without limitation: the Company’s business strategies and its ability to execute thereon; the
development and execution of implementing strategies to meet the Company’s sustainability vision and targets; security
risks, including civil unrest, war or terrorism and disruptions to the Company’s supply chain and transit routes as a result
of such security risks, particularly in Burkina Faso and the Sahel region surrounding the Company’s Essakane mine; the
availability of labour and qualified contractors; the availability of key inputs for the Company’s operations and disruptions
in global supply chains; tariffs and increase costs of supplies and equipment; the volatility of the Company’s securities;
litigation; contests over title to properties, particularly title to undeveloped properties; mine closure and rehabilitation risks;
management of certain of the Company’s assets by other companies or joint venture partners; the lack of availability of
insurance covering all of the risks associated with a mini ng company’s operations; unexpected geological conditions;
competition and consolidation in the mining sector; the profitability of the Company being highly dependent on the
condition and results of the mining industry as a whole, and the gold mining indus try in particular; changes in the global
prices for gold, and commodities used in the operation of the Company’s business (including, but not limited to diesel,
fuel oil and electricity); legal, litigation, legislative, political or economic risks and new developments in the jurisdictions
in which the Company carries on business, including the imposition of tariffs by the United States on Canadian products;
changes in taxes, including mining tax regimes; the failure to obtain in a timely manner from authori ties key permits,
authorizations or approvals necessary for transactions, exploration, development or operation, operating or technical
difficulties in connection with mining or development activities, including geotechnical difficulties and major equipmen t
failure; the availability of capital; the level of liquidity and capital resources; access to capital markets and financing; the
Company’s level of indebtedness; the Company’s ability to satisfy covenants under its credit facilities; changes in interest
rates; adverse changes in the Company’s credit rating; the Company’s choices in capital allocation; effectiveness of the
Company’s ongoing cost containment efforts; the Company’s ability to execute on de -risking activities and measures to
improve operations; availability of specific assets to meet contractual obligations; risks related to third-party contractors,
including reduced control over aspects of the Company’s operations and/or the failure and/or the effectiveness of
contractors to perform; risks re lating to acquisitions and divestitures; risks arising from holding derivative instruments;
changes in U.S. dollar and other currency exchange rates or gold lease rates; capital and currency controls in foreign
jurisdictions; assessment of carrying values for the Company’s assets, including the ongoing potential for material
impairment and/or write-downs of such assets; the speculative nature of exploration and development, including the risks
of diminishing quantities or grades of reserves; the fact that r eserves and resources, expected metallurgical recoveries,
capital and operating costs are estimates which may require revision; the presence of unfavourable content in ore
deposits, including clay and coarse gold; inaccuracies in life of mine plans; failure to meet operational targets; equipment
malfunctions; information systems security threats and cybersecurity; laws and regulations governing the protection of
the environment (including greenhouse gas emission reduction and other energy transition requirements; the uncertainty
surrounding the interpretation of omnibus Bill C -59 and the related amendments to the Competition Act (Canada);
employee relations and labour disputes; the maintenance of tailings storage facilities and the potential for a major spill or
failure of the tailings facilities due to uncontrollable events, lack of reliable infrastructure, including access to roads,
bridges, power sources and water supplies; physical and regulatory risks related to climate change; unpredictable
weather patterns and challenging weather conditions at mine sites; disruptions from weather related events resulting in
limited or no productivity such as forest fires, severe storms, flooding, drought, heavy snowfall, poor air quality, and
extreme heat or cold; attraction and retention of key employees and other qualified personnel; availability and increasing
costs associated with mining inputs and labour, negotiations with respect to new, reasonable collective labour agreements
and/or collective bargaining agreement s may not be agreed to; the ability of contractors to timely complete projects on
acceptable terms; the relationship with the communities surrounding the Company’s operations and projects; indigenous
rights or claims; illegal mining; the potential direct or indirect operational impacts resulting from external factors, including
infectious diseases, pandemics, or other public health emergencies; and the inherent risks involved in the exploration,
development and mining business generally. Please see the Company’s AIF available on SEDAR+ at www.sedarplus.ca
or Form 40 -F available on EDGAR at www.sec.gov/edgar for a comprehensive discussion of the risks faced by the
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Company and which may cause actual results, performance or achievements of the Company to be mat erially different
from results, performance or achievements expressed or implied by forward-looking statements.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from
those contained in forward -looking statements, there may be other factors that cause results not to be as anticipated,
estimated or i ntended. The Company disclaims any intention or obligation to update or revise any forward -looking
statements whether as a result of new information, future events or otherwise except as required by applicable law.