IMA Outlines Merger and Acquisition Objectives

VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: IMR)(AMEX: IMR)(FRANKFURT: IMT)(WKN 884971) is pleased to give an update to its October 18, 2007 announcement regarding the ongoing review of new mineral projects. To date the Company has been reviewing numerous project submissions regarding property acquisitions and joint ventures. This process has been undertaken under the direction of IMA's Management, including Dr. Greg Myers, P.Geo, who has joined IMA specifically with the task of property review and acquisitions.

The Company is reviewing opportunities with several other companies that have projects that meet IMA's business criteria. These companies, in Management's view, control very attractive gold and silver assets. IMA's objective is to acquire 15 to 25 properties and build a Company that contains several million ounces of gold or equivalent with substantial funds for continued exploration, and maintain a share structure that can achieve a rapid growth in shareholder value.

The process is focused on companies or projects with either a defined mineral reserve, or an advanced stage exploration property. These projects must also have the potential for significant expansion through continued exploration and located in politically stable environments.

IMA's objective is to once again be regarded as an industry leader in the field of mineral exploration and a premier investment choice. The Company is undertaking this process in conjunction with its financial advisors (Canaccord Adams) along with other technical and business professionals in an effort to expedite the implementation of this business model.

ON BEHALF OF THE BOARD

Mr. Joseph Grosso, President & CEO

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contacts: IMA Exploration Inc. Joseph Grosso President & CEO [phone] or Toll Free: 1-800-901-0058 IMA Exploration Inc. Sean Hurd Vice President, Investor Relations [phone] or Toll Free: 1-800-901-0058 [phone] (FAX) Email: [e-mail] Website: www.imaexploration.com