I-Minerals Provides Pre-Feasibility Study Update

Vancouver, British Columbia--(Newsfile Corp. - January 22, 2020) - I-Minerals lnc. (TSXV: IMA) (OTCQB: IMAHF) (FSE: 61M) (the "Company") is pleased to provide a status update on its ongoing pre-feasibility study ("PFS") on the Bovill Kaolin halloysite & metakaolin project. Millcreek Engineering of Salt Lake City, UT, has completed the site layout, processing plant design and is in the final stages of estimating the operating and capital costs. Mine Development Associates (MDA) has completed the mine plan optimized for kaolin and halloysite clays which in turn has been the basis for contract mining cost estimates completed in December 2019. Based upon the completion schedule, management expects to have the PFS results for release within 30 days.

Mineral marketing and testing activities are progressing very well. I-Minerals' halloysite is being tested in increasing amounts around the globe, with significant interest being expressed by major Asian corporations. In addition, the company has received ASTM C618 results for water demand and Strength Activity Index ("SAI") for its metakaolin product from bulk samples generated from the recent pilot plant and flash calcination run. The results are the best received to date and demonstrate the company can produce a premium Supplementary Cementing Material (SCM); additional concrete test-work is in progress.

A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals Inc. and has reviewed and approved the contents of this release.

About I-Minerals Inc.

I-Minerals is a Canadian based exploration and development company that is advancing the Helmer-Bovill kaolin-halloysite-quartz-potassium feldspar property in north central Idaho.

I-Minerals Inc.

Per: "John Theobald"

John Theobald, President & CEO

Contact:

Barry Girling
877-303-6573 or 604-303-6573
Email: [email protected]

Paul J. Searle, Investor Relations
877-303-6573 or 604-303-6573
Email: [email protected]

Or visit our website at www.imineralsinc.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world-wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital

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