All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
For more information, refer to the Management Discussion and Analysis (MD&A) and Unaudited Consolidated
Interim Financial Statements for the three months ended March 31, 2019.

Toronto, Ontario--(Newsfile Corp. - May 6, 2019) - IAMGOLD Corporation (TSX: IMG) ("IAMGOLD" or the "Company") reported its consolidated financial and operating results for the quarter ended March 31, 2019.

"Despite a challenging first quarter, we are driving towards achieving a self-funded, self-sustaining operating model," commented Steve Letwin, President and CEO of IAMGOLD, "This encompasses our goal to reduce costs and increase margins, preserve cash, fund site capital expenditures within site cash flows, and work safely and responsibly. At Essakane, we had strong production and cash flow generation and are optimizing performance through de-bottlenecking and other projects. At Rosebel, we reported significant reserve growth extending the mine life, with Saramacca first production planned in the second half of 2019. At Westwood, we have a long-life production asset in a transition year, with mine redesign in progress. Production remains on track for the year, with the first half lighter than the balance of the year, as anticipated, and we reinforce our 2019 annual production guidance. Our exploration successes highlight the district potential of each of our major sites and projects. Our balance sheet is strong, and we continue to exercise prudence in our allocation of capital. We remain committed to our goal of delivering shareholder value in 2019 and well beyond."

First Quarter 2019 Highlights
•Attributable gold production of 185,000 ounces at cost of sales1 per ounce of $962, total cash costs2 per ounce produced of $884 and all-in sustaining costs2 per ounce sold of $1,086. Attributable gold sales of 190,000 ounces at an average realized gold price per ounce of $1,308.
•Revenues of $251.0 million.
•Net loss attributable to equity holders of $41.3 million, or $0.09 per share.
•Adjusted net loss attributable to equity holders2 of $2.2 million, or $nil per share2.
•Net cash from operating activities of $8.8 million.
•Net cash from operating activities before changes in working capital2 of $33.8 million.
•Cash, cash equivalents, short-term investments, and restricted cash totaled $696.6 million at March 31, 2019. Cash and cash equivalents were $589.2 million, short term investments, primarily in money market funds, were $83.8 million and restricted cash was $23.6 million.

Strategic Developments

Financial
•We entered into a forward gold sale arrangement ("Arrangement") with a syndicate of banks to receive a cash prepayment of $170 million in December 2019 in exchange for delivering 150,000 ounces of gold in 2022, with a gold floor price of $1,300 per ounce and a cap price of $1,500 per ounce, to provide additional financial flexibility as we execute our growth strategy. The cost of the Arrangement is 5.38% per annum.
•IAMGOLD, together with AngloGold Ashanti Limited, entered into an agreement with the Government of Mali for the sale of the joint venture partners' combined 80% indirect interest in the Yatela mine for $1. The sale is subject to the fulfillment of certain conditions and a one-time payment of estimated rehabilitation, closure and social program costs of approximately $18.5 million.

Reserves and Resources
•On January 30, 2019, we reported a 57% increase in resources at the Diakha-Siribaya Gold Project in Mali based on an updated resource estimate as at December 31, 2018, comprising 18.0 million tonnes of indicated resources grading 1.28 g/t Au for 744,000 ounces and 23.2 million tonnes of inferred resources grading 1.58 g/t Au for 1.2 million ounces.
•On March 26, 2019, we announced that a new gold discovery, referred to as the Gosselin Zone, has been identified approximately 1.5 kilometres northwest of the Côté Gold deposit. Drilling highlights included: 350 metres grading 0.81 g/t Au; 132.3 metres grading 1.13 g/t Au; 139.7 metres grading 1.36 g/t Au.

Operations and Development
•We received notice of approval of its Environmental and Social Impact Assessment from the Government of Suriname for the Saramacca Project.
•Development activities at the Saramacca Project continued to advance with a primary focus on the haul road construction to enable the operation to deliver ore to the Rosebel mill in the second half of 2019.
•The carbon-in-column ("CIC") plant at Rosebel, designed to improve recoveries, was commissioned and became fully operational, producing an additional 2,200 ounces in the first quarter 2019.
•The oxygen plant at Essakane, designed to improve recoveries by 0.5%, was commissioned.
•Following the completion of a feasibility study in the fourth quarter 2018, IAMGOLD has continued to optimize the design elements of the Boto Gold Project development, maintained stakeholder engagement and commenced a drilling program.
•On January 28, 2019, we announced that we deferred a decision to proceed with the construction of the Côté Gold Project in Canada.

Upcoming Growth Catalysts
•Development of Saramacca continues on schedule, with production expected to begin in the second half of 2019.
•At Rosebel, a scoping study is underway to evaluate the underground mining potential of Saramacca, which could result in higher grades and significantly lower waste volumes, thereby reducing costs.
•We continue to advance exploration activities along the Saramacca-Brokolonko trend in Suriname to confirm the presence of mineralization and evaluate the resource potential.
•The Carbon-in-Leach and Heap Leach feasibility study at Essakane is progressing well and is expected to be completed in the second quarter 2019.
•Discussions with the Government of Senegal on obtaining a mining concession for the Boto Gold Project are well advanced, with approval expected in the second half of 2019.
•We are studying various design approaches to Westwood with a preliminary life of mine plan expected in the fourth quarter 2019, followed by a NI 43-101 compliant plan in the first half 2020.
•A delineation diamond drilling program to support an initial mineral resource estimate for the Nelligan Project in Quebec commenced during the first quarter 2019.

SUMMARY OF FINANCIAL AND OPERATING RESULTS
Three months ended March 31,
Financial Results ($ millions, except where noted) 2019 2018
Revenues $251.0 $314.5
Cost of sales $251.9 $238.7
Gross profit (loss) $(0.9 ) $75.8
Net earnings (loss) attributable to equity holders of IAMGOLD $(41.3 ) $42.3
Net earnings (loss) attributable to equity holders ($/share) $(0.09 ) $0.09
Adjusted net earnings (loss) attributable to equity holders of IAMGOLD1 $(2.2 ) $40.4
Adjusted net earnings (loss) attributable to equity holders ($/share)1 $- $0.09
Net cash from operating activities $8.8 $106.0
Net cash from operating activities before changes in working capital1 $33.8 $119.6
Key Operating Statistics

Gold sales - attributable (000s oz) 190 235
Gold production - attributable (000s oz) 185 229
Average realized gold price1 ($/oz) $1,308 $1,331
Cost of sales2 ($/oz) $962 $741
Total cash costs1 ($/oz) $884 $737
All-in sustaining costs1 ($/oz) $1,086 $953
Gold margin1 ($/oz) $424 $594



1 This is a non-GAAP measure. Refer to the non-GAAP performance measures section of the MD&A.
2 Cost of sales, excluding depreciation, as disclosed in note 29 of the Company's consolidated interim financial statements is on an attributable ounce sold basis (excluding the non-controlling interests of 10% at Essakane and 5% at Rosebel) and does not include Joint Ventures which are accounted for on an equity basis.

FIRST QUARTER 2019 SUMMARY

Financial Performance
•Revenues for the first quarter 2019 were $251.0 million, down $63.5 million or 20% from the same prior year period. The decrease was primarily due to lower sales volume at Essakane ($28.9 million), Westwood ($26.4 million), and Rosebel ($3.4 million), combined with a lower realized gold price ($4.4 million).
•Cost of sales for the first quarter 2019 was $251.9 million, up $13.2 million or 6% from the same prior year period. The increase was due to higher operating costs ($10.7 million) and higher depreciation expense ($4.3 million), partially offset by lower royalties ($1.8 million). Operating costs were higher primarily due to lower capitalized stripping and higher maintenance costs at Essakane and increased mining and milling volumes at Rosebel, partially offset by a stronger U.S. dollar relative to the euro and the Canadian dollar.
•Depreciation expense for the first quarter 2019 was $68.6 million, up $4.3 million or 7% from the same prior year period. The increase was primarily due to the timing of capital additions, partially offset by an increase in reserves at Essakane and Rosebel.
•Income tax expense for the first quarter 2019 was $1.4 million, down $10.4 million in the same prior year period. Income tax expense for the first quarter 2019 comprised current income tax expense of $9.7 million (March 31, 2018 - $22.5 million) and deferred income tax recovery of $8.3 million (March 31, 2018 - $10.7 million). The decrease in income tax expense was primarily due to changes to deferred income tax assets and liabilities, differences in the impact of fluctuations in foreign exchange, and differences in the level of taxable income in IAMGOLD's operating jurisdictions from one period to the next.
•Net loss attributable to equity holders for the first quarter 2019 was $41.3 million, or $0.09 per share, compared to net earnings of $42.3 million, or $0.09 per share in the same prior year period. The decrease was primarily due to lower gross profit ($76.7 million) and higher other expenses ($17.3 million) which included an impairment charge of $12.5 million and restructuring costs at Westwood of $3.2 million, partially offset by lower income taxes ($10.4 million).
•Adjusted net loss attributable to equity holders2 was $2.2 million, or $nil per share2, compared to adjusted net earnings2 of $40.4 million, or $0.09 per share2 in the same prior year period.
•Net cash from operating activities for the first quarter 2019 was $8.8 million, down $97.2 million from the same prior year period. The decrease was due to lower earnings after non-cash adjustments ($74.8 million), higher movements in non-cash working capital items and non-current ore stockpiles ($11.1 million), higher income taxes paid ($9.5 million) and lower net settlement of derivatives ($2.7 million), partially offset by net cash used in operating activities related to closed mines ($0.9 million).
•Net cash from operating activities before changes in working capital2 for the first quarter 2019 was $33.8 million, down $85.8 million from the same prior year period.

Financial Position
•We ended the quarter in a strong financial position, with cash, cash equivalents, short-term investments primarily in money market funds and restricted cash were $696.6 million at March 31, 2019, down $61.4 million from December 31, 2018. The decrease was primarily due to spending on property, plant and equipment ($69.7 million), partially offset by cash generated from operating activities ($8.8 million).

Production and Costs
•Attributable gold production, inclusive of joint venture operations, was 185,000 ounces for the first quarter 2019, down 44,000 ounces from the same prior year period. The decrease was primarily due to the impact of increased seismicity at Westwood in December 2018 (25,000 ounces), lower head grades and throughput at Essakane (19,000 ounces) and lower head grades at the Joint Ventures (3,000 ounces), partially offset by higher recoveries at Rosebel (3,000 ounces).
•Attributable gold sales, inclusive of joint venture operations, were 190,000 ounces for the first quarter 2019, down 45,000 ounces from the same prior year period. The decrease was due to lower sales at Essakane (20,000 ounces), Westwood (19,000 ounces), Rosebel (3,000 ounces) and the Joint Ventures (3,000 ounces).
•Cost of sales1 per ounce for the first quarter 2019 was $962, up 30% from the same prior year period primarily due to the impact of lower sales volumes at Essakane and Westwood.
•Total cash costs2 per ounce produced for the first quarter 2019 were $884, up 20% from the same prior year period. The increase was primarily due to the impact of lower production volumes. Included in total cash costs2 for the first quarter 2019 was a reduction of $61 per ounce produced reflecting the reduction of costs attributed to inventory to normalize for the amount of fixed overhead on a per unit basis as a consequence of abnormally low production at Westwood (2018 - $nil) and realized derivative gains from hedging programs of $2 per ounce produced (2018 - $11).
•All-in sustaining costs2 per ounce sold for the first quarter 2019 were $1,086, up 14% from the same prior year period. The increase was primarily due to higher cost of sales per ounce, partially offset by lower sustaining capital expenditures. Included in all-in sustaining costs2 for the first quarter 2019 was a reduction of $60 per ounce sold reflecting the reduction of costs attributed to inventory to normalize for the amount of fixed overhead on a per unit basis as a consequence of abnormally low production at Westwood (2018 - $nil) and realized derivative gains from hedging programs of $2 per ounce sold (2018 - $13).

2019 Guidance

(Refer to MD&A for more detail)

The Company maintains its full-year 2019 production guidance of 810,000 to 870,000 attributable ounces and its guidance for all-in sustaining costs2 per ounce sold of $1,030 to $1,080. The Company also maintains its full-year guidance for cost of sales per ounce of $790 to $840 and total cash costs2 per ounce produced of $765 to $815, but notes that a number of cost and productivity improvement initiatives are underway to mitigate the risk that these two targets may not be achieved by the end of the year. Guidance will be reviewed in the second quarter 2019 and updated as necessary. Gold production at Westwood is expected to improve starting in the second quarter 2019 compared to the first quarter, and is expected to be strongest in the fourth quarter.

Commitment to Zero Harm Continues

The DART rate3, representing the frequency of all types of serious injuries across all sites and functional areas for the first quarter 2019 was 0.58, below IAMGOLD's target of 0.63. Unfortunately, the health and safety performance of IAMGOLD was affected by a fatality of a contractor at the Essakane mine in the first quarter 2019 due to an equipment fire. Zero Harm remains IAMGOLD's number one priority. We are implementing several initiatives, including a behaviour-based safety program, to ensure a safer work environment.

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