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Gold/Mining/Energy : IMA Exploration (VSE:IMR) - IMR.V -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (468)	9/1/2001 3:51:44 PM
From: Gary E. Johnson	Respond to of 520

IMA is on the MOVE ! Wed Aug 22, 2001 IMA Prepares for Drilling the 1st of Several Targets - Rio Tabaconas, Peru ------------------------------------------------------------ IMA Exploration Inc. (IMR:CDNX) is pleased to announce that a pre-drilling exploration program has commenced on the Company's Rio Tabaconas property in Northwestern Peru, where drilling will commence in early September 2001. The Company's exploration team is now conducting pre-drilling work on the Tablon target, with the added focus of expanding the established 600 x 200 metre target area through rock chip and soil sampling. The program is expected to be completed by the first week of September. Tablon is one of several exploration targets that have been identified on Rio Tabaconas with a potential to host multi-million ounce gold-copper discovery. After the Tablon drill target, Cerro Minas is the most advanced target following the discovery of an 800 metre wide breccia zone with highly anomalous gold in soil values overlapping the eastern edge. Additional geochemical sampling will be conducted to further develop and expand this target. PROPERTY HIGHLIGHTS Tablon Drill Target - 122 Rock chip samples averaged 5.6 g/t gold (including 6.45 metres of 35 g/t). - 5 underground rock chip samples 20-30 metres inside old adit (tunnel) ranged from 1.46 g/t gold to 15.2 g/t gold. - 62 soil samples averaged 1.18 g/t gold (values up to 18 g/t). - Property has never been drilled. The Tablon target can be broken down into two parts: an exposed rock outcrop and an adjoining soil anomaly to the east. The sixty-two soil samples taken returned extremely high gold values and are believed to indicate the eastern extension of the massive sulphide zone that produced the gold-in-rock anomaly. Underground samples from historic workings within the rock anomaly have returned gold values of up to 15.2 g/t. Drilling will test both the massive sulphide zone, and the eastern soil anomaly. Cerro Minas Exploration Target Cerro Minas is situated 1.2 km southeast from Tablon. Several zones of strongly anomalous gold in soils adjacent to siliceous breccias, possibly of diatreme origin, with strong argillic alteration and pyritization, indicate the potential for epithermal style gold mineralization similar to that at the Yanacocha and Pierina gold mines. Soil values within the cores of the anomalous zones range up to in 4 g/t gold, with associated anomalous arsenic and lead. This anomaly is open to the south, east and west. Overlapping the eastern edge of the 800 metre wide breccia, 20 soil samples collected on a regular grid pattern near the crest of Cerro Minas returned an average value of 0.9 g/t gold from a 400 x 200 metre area. The source for these values is currently unknown, and will also be the focus of this work program that will consist of hand trenching and detailed geological mapping. IMA holds an option to acquire 100% of the Rio Tabaconas property which is located in the prolific Cajamarca gold-copper metallogenic belt in northwestern Peru. This region is host to over a dozen world class deposits including South America's largest producing gold mine Yanacocha. IMA Exploration Inc. has been actively exploring in South America since 1993 with a focus on Argentina and Peru. The Company continues to seek new exploration opportunities through its extensive contact base to add to its strategic land position, which has attracted several major mining companies including our joint venture partners in Argentina, Barrick Gold Corp. and Rio Tinto Mining. ON BEHALF OF THE BOARD "Joseph Grosso" _________________________________ Joseph Grosso, President & CEO For further information please contact Joseph Grosso, President & CEO, or Sean Hurd, Investor Relations Manager, at 1-800-901-0058 or 604-687-1828, or fax 604-687-1858, or by email info@imaexploration.com, or visit the Company's web site at imaexploration.com. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.