Mr. Graeme Jennings reports

IAMGOLD ANNOUNCES CLOSING OF SALE OF ITS INTEREST IN THE BAMBADJI JOINT VENTURE IN SENEGAL

Iamgold Corp. has completed the sale of its indirect 35-per-cent interest in the Bambadji joint venture (JV) and its attributable interest in the Bambadji Sud exploration permit in Senegal to Fortuna Mining Corp. 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. All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

The Bambadji JV controls the Bambadji and adjacent Bambadji Sud exploration permits located in the Kedougou 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 Corp. and Iamgold, on a combined 100-per-cent basis consists of: $200-million in cash payable on closing; and a 0.5-per-cent 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 per cent) and Barrick (65 per cent).

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 Corp.

Iamgold is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Cote gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Cote 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 and the Toronto Stock Exchange.

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