All 2016 numbers are preliminary and unaudited and subject to final adjustment. All amounts are expressed in US dollars, unless otherwise indicated.

IAMGOLD Corporation announces preliminary operating results for 2016 and guidance for 2017.

IAMGOLD's President and CEO, Steve Letwin, said, "With gold production increasing in each consecutive quarter of 2016, we had a strong finish to the year. Strong operating performance drove production above guidance to 813,000 ounces. Production at all sites exceeded the top end of the guidance ranges and Westwood's achievement of ambitious underground development targets was outstanding, which well positions them to nearly double production in 2017. We expect cash costs and all-in sustaining costs to be within guidance, reflecting continued success optimizing mine performance and improving productivity.

"The year 2016 was pivotal for IAMGOLD," continued Mr. Letwin, "as strong operating performance and the achievement of critical milestones have well positioned us for growth. With strategies to capitalize on organic growth opportunities at all of our mines and a balance sheet that enables us to internally fund this growth, we're confident that by 2020 we can take production to one million ounces and reduce all-in sustaining costs by 15%. We expect production in 2017 to increase by 4-9% from last year with all-in sustaining costs ranging between $1,000 and $1,080 an ounce."

Performance Highlights for 2016

• Attributable gold production of 813,000 ounces; above guidance of 770,000 to 800,000 ounces; fourth quarter production 215,000 ounces.


• Total cash costs1 expected to be within guidance of $740 to $770 per ounce.


• All-in sustaining costs1 expected to be within guidance of $1,050 to $1,100 per ounce.


• Capital expenditures of approximately $280 million were relatively in line with guidance of $275 million.


• Approximately $750 million in cash, cash equivalents and restricted cash as at December 31, 2016.

Guidance Highlights for 2017

• Attributable gold production expected to be between 845,000 and 885,000 ounces.


• Total cash costs expected to be between $740 and $780 per ounce.


• All-in sustaining costs expected to be between $1,000 and $1,080 per ounce.


• Capital expenditures guidance of $250 million ±5%.