i-minerals inc.: Thomas M. Conway Appointed President & CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2011) - i-minerals inc. (TSX VENTURE:IMA)(PINK SHEETS:IMAHF) (the "Company") is pleased to announce the appointment of Mr. Thomas M. Conway as President and CEO of the Company. Mr. Conway replaces Roger A. Kauffman who has resigned these positions for personal reasons but will continue as a member of the Board of Directors and Chairman (non-executive).

Mr. Conway holds a B.S.-Mining Engineering (University of Minnesota) and attended Harvard Business School's Executive MBA program. He is a results-oriented executive with 20 years of diverse experience largely with Newmont Mining Corporation ("Newmont") in operations, general management, environmental affairs and risk management. His experience covers domestic and international assignments in open pit and underground operations where he has a record of enhancing operations through improved cost control and productivity innovations, while maintaining safety and environmental standards.

Highlights of Mr. Conway's successful career at Newmont included his role of Vice President Risk Management where he developed corporate risk management strategies relating to health and safety, environmental, internal audit and legal aspects of mining operations. His operational experience included Vice President / General Manager Carlin Operations where he was responsible for a 2 million ounce per year operation with 1,600 salaried and hourly employees; and Vice President / General manager Minera Yanacocha where under his guidance Yanacocha expanded annual gold production from 300,000 ounces to 1.2 million ounces in 3 years. Mr. Conway also served as assistant General Manager at Yanacocha where he was responsible for the start-up - ahead of schedule and under budget - of two metallurgical plants and three open pit mines. Mr. Conway has a strong understanding of the permitting process through time served as Manager, Environmental Affairs Carlin Operations, where he was responsible for compliance and permitting, and negotiations with the EPA and the State of Nevada regulators.

Management of i-minerals thanks Mr. Kauffman for his contributions towards advancing the Company's mineral assets and looks forward to his continued participation in his new role as Chairman.

In an unrelated matter, BV Natural Resources, a company controlled by Allen Ball, a director of the Company, has agreed to advance the Company up to $750,000 in one or more installments. It is intended that the funds advanced shall represent an advance against the Company's planned non-brokered private placement, assuming that each of the private placements as announced on January 19, 2011 closes as announced.

i-minerals inc.

Barry Girling, Director

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.