Page 26 Page 26 the frst f ew y ears of r amp up ar e modest w e ar e w or k ing t o fll our mill with lo w er g r ade sur fac e ma t e r ial fr om sa t ellit e pr ospec ts and with cust om f eed IA MGOLD is tar geting the sec ond quar t er of 2020 t o r elease W est w ood s NI 43101 Lif e of M ine P lan and T echnical R epor t IA MGOLD is classifed as a midtier pr oduc er with f our oper a ting gold mines on thr ee c on tinen ts I n the mean time IA MGOLD s C ot e P r oper t y near G ogama is on the c ompan y s list f or c on tinued e xplo r a tion I n a Januar y 16 new s r elease the c ompan y indica t ed tha t it in t ends t o in v est US47 million on e x plor a tion in 2020 T hr ough an ac tiv e and sustained e xplor a tion pr og r am w e ha v e c on tinued t o suc c essfully incr ease our miner al r esour c es o v er the past sev er al y ears as w ell as main tain the in cr eases in our miner al r eser v es net of depletion o v er the same per iod said the new s r elease I n 2020 implemen ting our self funding model w e ha v e r educ ed the budget f or our near mine and e xplor a tion pr ojec ts t o 47 million which includes c on tinued ev alua tion of sa t ellit e tar gets within lar ge r eg ional land positions sur r ounding our oper a tions ev alua tion of under g r ound pot en tial of S ar amac ca and c on tinued delinea tion and e xpan sion dr illing a t our v ar ious adv anc ed e xplor a tion and dev elopmen t pr oj ec ts including C ot e G old B ot o G old the R ouyn P r ojec t near W est w ood and the Nelligan G old P r ojec t in Q uebec I n addition IA MGOLD sa y s it plans t o c on tinue e xplor a tion of v ar ious tar gets f or new disc o v er ies in their por tf olio of adv anc ed t o ear ly stage Gr eenfeld pr ojec ts IA MGOLD has made it clear they will g r een ligh t either C ot e or the B ot o P r ojec t in S enegal P r esiden t and C OO G or d S t othar t t old the CIBC W est er n I nstitutional I n v est ors C on f er enc e in Banf A lber ta Januar y 28th tha t a decision on which mine t o g r een ligh t is imminen t S t othar t spoke highly of C ot e indi ca ting tha t the c ompan y has suc c essfully e x ecut ed a local I mpac t B eneft A g r eemen t IBA with ar ea F irst Na tions 50 of detailed eng i neer ing plans ha v e been c omplet ed and a number of go v er nmen t per mits ha v e been achiev ed T he c ompan y sa y s the da ta indica t es an 18 y ear pr oduc tion lif e a t mor e than 300000 ounc es a y ear with all in sustaining c osts AISC of just o v er 700USD per ounc e IAMGOLD decision on C ot e under e v alua tion I t s a tale of t w o cities when it c omes t o IA MGOLD s futur e in C anada T he c ompan y c on tinues t o de r isk the fabled C ot e pr ojec t near G ogama On tar io about 110k m south of T im mins and a decision t o g r een ligh t the pr ojec t is still being ev alua t ed I n the mean time IA MGOLD s W est w ood pr ojec t in B ousquet T o wn ship Q uebec c on tinues a str eam of good new s f or in v est ors W est w ood is loca t ed on the D o y on pr oper t y 25 k ilometr es east of the f or mer D o y on gold mine in B ousquet T o wnship I t c o v ers 1925 hec tar es including 120 titles one mining lease one sur fac e lease and thr ee tailings leases T he ne x t thr ee t o f our y ears ar e e x pec t ed t o be busy f or W est w ood as the c ompan y r evised its pr oduc tion tar gets fr om just under 100000 ounc es per y ear t o as much as 145000 ounc es b y 2023 W ith a goal of cr ea ting a saf e and pr oftable under g r ound mine our t eam of inhouse and e x t er nal e x per ts ar e dev eloping an achiev able r evised mining and dev elopmen t plan f or W est w ood G or don S t othar t the fr m s pr esiden t and C OO said in a D ec ember 2019 sta t emen t T he guidanc e is based on W est w ood s oper a ting r ealit y with pot en tial f or lo w er dilution and c on tinued posi tiv e r ec oncilia tion t o plan W hile B y K e vin V inc ent