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

Toronto, Ontario--(Newsfile Corp. - August 8, 2024) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") today reported its financial and operating results for the second quarter ended June 30, 2024.

"We are very proud of our achievements during the first half of the year at IAMGOLD," said Renaud Adams, President and Chief Executive Officer of IAMGOLD. "Essakane and Westwood teams have continued to deliver strong operational results, which has positioned the company to beat our production and cost guidance targets set at the beginning of the year. These achievements have been made while delivering our commitment to health and safety, and I want to commend the Essakane team, which recently surpassed a record health and safety milestone of 5 million hours worked without a recordable safety incident."

"At Côté Gold, last week we announced the mine had reached commercial production, a significant achievement only four months after pouring our initial gold bar on March 31 of this year. We are very impressed with the progress to date and are very positive on what the milestones achieved so far mean for the future of the project. Early in the second quarter, our focus was on stress testing the capability of the plant to handle near nameplate throughput rates. The primary components of the plant responded well, proving the installed capacity of the major equipment and processing circuits to handle design rates. The operating teams have made significant strides over the last six weeks on increasing the availability of the plant, with a full production at nameplate of 36,000 tonnes milled achieved on August 1st. During the ramp up exercise, the company has identified key improvements and optimizations needed in the crushing and screening circuits of the dry side, which will be implemented in September in support of the goal of reaching the 90% throughput rate exiting this year."

"The financial position of the company continues to improve, with over $915 million in total liquidity and increased production guidance this year in a strong gold price environment. With commercial production at Côté behind us and our financing completed in May, IAMGOLD is well funded to buy back the 10% interest in the mine in November - in order to increase our ownership to 70% of what we believe to be among the top gold mines in Canada."

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