IAMGOLD has increased the mineable mineral reserves at its Mupane mine in Botswana. The company says the increase is a direct result of IAMGOLD’s successful effort to convert the operation to owner mining. To facilitate this change, existing mining equipment was redeployed to the Mupane operations. The impact of the conversion to owner mining was expected to be 30-70,000 oz of additional production and would result in a four to six month extension of the mine life. IAMGOLD’s update confirms that after producing 37,000 oz in the first six months of 2008, mineral reserves increased by 27,000 oz for an overall gain of 64,000 oz which, at a cash cost of under $450/oz will extend the operational life to Q2 2012. Mineral reserves were calculated using a gold price of $600 for December 31, 2007 and $650 for June 30, 2008.

               ------------------------------------------------------------                 ------------------------------------------------------------                        Proven               Probable            Total                 ------------------------------------------------------------                 Tonnes    Au    Au  Tonnes     Au    Au  Tonnes    Au    Au                   (000) (g/t) (000    (000)  (g/t) (000    (000) (g/t) (000                                 oz)                  oz)                 oz)  ---------------------------------------------------------------------------  December 31,   2007           2,982   2.4   226     200    3.2    21   3,182   2.4   247  ---------------------------------------------------------------------------  June 30, 2008   3,444   2.2   240     397    2.7    35   3,841   2.2   274  ---------------------------------------------------------------------------  Difference        461   0.9    13     197    2.3    15     659   1.3    27  ---------------------------------------------------------------------------  ---------------------------------------------------------------------------

"The increase in reserves is a direct result of IAMGOLD's aggressive cost and production initiatives. Our lower

operating costs due to the switch to owner mining at Mupane will allow for profitable mining of satellite pits that had

been previously excluded from the original mine plan. We will continue to evaluate our mining costs to determine if

there are further opportunities to develop additional resources that could extend the mine life beyond 2012." stated

Joseph Conway, President & CEO.