IMA I Minerals Inc

I-Minerals Inc. (TSX VENTURE: IMA) (OTCQX: IMAHF) ("I-Minerals") announces,
further to its March 20, 2014 news release, that the complaint filed in U.S.
Federal Court by Hoodoo Resources, LLC and Brent Thomson Family Trust
(collectively, the "plaintiffs") has been voluntarily dismissed by the
plaintiffs pursuant to Rule 41(a)(1)(A)(i) of the U.S. Federal Rules of Civil
Procedure. (The complaint related to the plaintiffs' assertion of derivative
rights on behalf of Idaho Industrial Minerals, LLC ("IIM") to reject
consideration paid to IIM in January 2013 by I-Minerals in respect of the
Helmer-Bovill property pursuant to an August 10, 2002 agreement, as amended,
between I-Minerals and IIM, and to enforce an alleged right of reverter of the
Helmer-Bovill property to IIM.)


I-Minerals also announces that, in an action commenced in January 2014 in the
District Court of the Fourth Judicial District of the State of Idaho by BV
Natural Resources, LLC ("BV", a private company controlled by Allen Ball, a
Director of I-Minerals) against Hoodoo Resources, LLC and Brent Thomson, as
trustee for the Brent Thomson Family Trust (collectively, the "defendants"), BV
is seeking a declaratory judgment that, inter alia, IIM has accepted the
consideration paid to it by I-Minerals in January 2013 in respect of the
Helmer-Bovill property; BV is also seeking a judicial dissolution of IIM on the
grounds that it is unable to carry on its business in a reasonably practicable
manner.


In response to the State action commenced by BV, the defendants have filed a
counterclaim against BV, and a third party complaint against I-Minerals, its
U.S. subsidiary and certain of its Directors, as well as a former director, as
third-party defendants, essentially re-stating the allegations made in the
now-dismissed Federal Court action. I-Minerals, together with each of the other
third-party defendants, intend to vigorously defend this third party complaint
as they believe the claim to be completely and wholly without merit.


About I-Minerals Inc.

I-Minerals is developing multiple deposits of high purity-high value halloysite,
quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill
property in north central Idaho. A 2014 Prefeasibility Study on the Bovill
Kaolin Deposit completed by SRK Consulting (USA) Inc. highlights the potential
of the Helmer-Bovill property's Bovill Kaolin deposit: after tax NPV6 of $212
million; 30.5% IRR; 3 year payback and $72.7 million initial CAPEX; $84 million
CAPEX including life of mine sustaining capital over a 25 year mine life.
Ongoing development work is focused on moving project through the feasibility
process towards production.


I-Minerals Inc.

Per: "Thomas M. Conway"

Thomas M. Conway, 
President & CEO

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.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.



FOR FURTHER INFORMATION PLEASE CONTACT: 

Contact:
Barry Girling
877-303-6573 or 604-303-6573
Email: info@imineralsinc.com 
Or visit our website at www.imineralsinc.com

Timothy Ko
Principal at Tyton Rock Capital
604-312-2065
Email: timothy@tytonrock.com
Or visit www.tytonrock.com

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