IAMGOLD Reports Success in First Drill Campaign at Sarakreek

IAMGOLD Corporation ("IAMGOLD" or "the Company") (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) is pleased to announce drill results from its Sarakreek project located in Suriname, South America, 100 km south of the Company's Rosebel mine. It covers a total surface area of 1,281 km2 in two separate properties. IAMGOLD holds a 87.5% interest in the project.

"These results at Sarakreek demonstrate the presence of a significant gold mineralized system," stated Joseph Conway, President and CEO. "As positive results continue, we will dedicate more money and effort to this project. The success of this exploration program in a region, in which we already operate, further enforces our long-term commitment to the Guiana Shield."

This region represents one of the largest historic gold producing areas in Suriname and is underlain by the Lower Proterozoic Guiana Shield. IAMGOLD initiated work on the properties in 2005 and completed geochemical surveys, mapping and trenching. This work confirmed the presence of a wide gold vein system related to conjugate sets of veins hosted in highly altered host rocks. Locally the host rocks are intensely veined. Much of the near-surface mineralization is hosted in a saprolitic to lateritic zone similar to what is found at the Rosebel mine. The best results from surface channel sampling were 1.9 grams / tonne gold (g/t Au) over 25 metres (m), 0.9 g/t Au over 120.5 m, 3.5 g/t Au over 18 m and 1.0 g/t Au over 12 m.

From October to December 2007, the initial diamond drilling campaign was completed. A total of 23 holes totaling 3,367 metres were drilled to evaluate three surface gold anomalies roughly 2 kilometres apart. From north to south, these areas are named Sula, West and Awari. For further detail on locations refer to Figure 1. A second campaign of 4,452 m in 27 additional holes was completed in March and April 2008.

Results obtained indicate numerous significant near surface intercepts. The most significant intercepts include:

- 222.2 g/t Au over 7.5 m - SK07-11

- 31.2 g/t Au over 12 m - SK07-01

- 6.8 g/t Au over 21 m - SK07-01

- 7.9 g/t Au over 4.5 m - SK08-14

A complete list of significant results can be found in Table 1 and a plan view can be found in Figure 2.

The veining strikes mainly along a NNW foliation but locally shows variable inclinations including shallow to sub horizontal dips. For these reasons, continuity has not been established and additional detailed drilling is required.

Objectives for 2008

The Sarakreek Project has currently a budget of US$ 2.2 million for 2008. The next phase of the exploration program will continue to assess the potential of the known gold anomalies and evaluate other potential targets along the mineralized trend. An evaluation of additional nearby geochemical anomalies will be carried out, and regional surveys are planned to identify further targets on the exploration concessions. In addition, new regional priority targets have already been identified.