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Sale of Sadiola mine in Mali hits IAMGOLD’s year-end reserves and resources

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(Kitco News) - IAMGOLD (TSX: IMG) (NYSE: IAG) today announced its 2020 year-end Mineral Reserve and Resource statement.

The company said that its total attributable Proven and Probable gold Reserves decreased by 2.8 million ounces or 17% in 2020 to 13.9 million ounces from the prior year. The decrease was primarily due to the sale of Sadiola, mine depletion at all operations reflecting the company's attributable gold production of 653,000 ounces in 2020, and the previously announced reclassification of a portion of reserves at Westwood.

IAMGOLD’s total attributable Measured and Indicated gold Resources decreased by 3.3 million ounces or 12% to 23.9 million ounces from the prior year. The decrease was primarily due to the sale of Sadiola and the Eastern Borosi project and mine depletion at all operations. Total attributable Inferred gold Resources decreased by 697,000 ounces or 6% to 11.3 million ounces from the prior year.

IAMGOLD is a mid-tier mining company with three gold mines on three continents, including the Essakane mine in Burkina Faso, the Rosebel mine in Suriname, and the Westwood mine in Canada. IAMGOLD aims to become a million-ounce gold producer as it executes on its growth strategy, including bringing Côté Gold, its fourth mine, online.

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