I-Minerals Inc. Announces Debt Settlement

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES


I-Minerals Inc. (TSX VENTURE:IMA)(PINKSHEETS:IMAHF) (the "Company") announces
that a company controlled by a director has elected to have accrued interest in
the amount of $215,439.20 settled by the issuance of 1,001,112 common shares in
the capital of the Company at a deemed price of $0.2152 per share, subject to
regulatory acceptance, as provided for in the formal loan agreement pursuant to
which this interest has been accrued.


I-Minerals Inc.

Thomas M. Conway, President & CEO

The securities referred to in this news release have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This news release does not constitute
an offer for the sale of securities, nor a solicitation for offers to buy any
securities. Any public offering of securities in the United States must be made
by mean of a prospectus containing detailed information about the company and
management, as well as financial statements.


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.


This news release may contain forward-looking statements based on assumptions
and judgments of management regarding future events or results that may prove to
be inaccurate as a result of risk factors beyond its control, and actual results
may differ materially from the expected results.


FOR FURTHER INFORMATION PLEASE CONTACT: 
I-Minerals Inc.
Barry Girling
877-303-6573 or 604-303-6573
[e-mail]
www.imineralsinc.com


Encompass Communications Inc.
604.630.0770
[e-mail]