All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

Toronto, Ontario--(Newsfile Corp. - December 18, 2023) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") is pleased to announce the filling of a Technical Report (the "Technical Report") for the Company's Essakane Gold Mine ("Essakane"), located in Burkina Faso. The primary objective of the Technical Report is to provide an updated Mineral Resource and Mineral Reserve ("MRMR") estimate and an accompanying updated life of mine ("LOM") plan for Essakane. The Technical Report was prepared in accordance with the disclosure requirements of National Instrument 43-101 ("NI 43-101") and has an effective date of September 30, 2023. The Technical Report is available on SEDAR at www.sedarplus.ca and on the Company's website at www.iamgold.com.

Highlights of updated Technical Report

Mine life extension to 2028, mining will occur from three remaining pit phases in the Essakane Main Zone ("EMZ") pit, and the Lao and Gourouol satellite pits
Overall production of 2.4 million ounces of gold ("oz Au") from 2023 to 2028, with an annual average gold production of approximately 400,300 oz Au during this period
Average estimated operating costs over the LOM (2023-2028) $32.49/t milled net of capitalized waste stripping ("CWS") (excluding CWS and stockpile movements, with CWS being transferred to sustaining capital)
Capital expenditures over life of mine estimated at $502.7 million (including 2023)
Mineral Reserve estimate from the open pit increased 21% to 1.9 million ounces at an average grade of 1.32 g/t
Mineral Resource estimate from the open pit increased 37% to 3.1 million ounces at an average grade of 1.40 g/t
"As one of the top gold producing mines in West Africa, Essakane continues to be an integral part of IAMGOLD," commented Renaud Adams, President and Chief Executive Officer of IAMGOLD. "The filing of the updated Technical Report today demonstrates the successes our teams have had within the fence delineating additional ounces which have increased our mineral resource inventory and more than offset mine production depletion in 2023. As a result, we have been able to extend the mine life of Essakane an additional year, providing visibility for the next five years of operations at the project."

Essakane MRMR Comparison Summary 1

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