iamgold sale 80 percent complete

IAMGOLD CORPORATION LIMITED (PREVIOUSLY GALLERY GOLD) – BOTSWANA &
TANZANIA/GOLD
• On 13 March 2006, IAMGOLD Corporation, a medium sized Canadian gold company,
acquired all of the fully paid ordinary shares in Gallery Gold. IAMGOLD listed on the ASX
on 27 March, and Lion’s holding of 108 million Gallery shares, were transferred to 4.9
million IAMGOLD shares. As at 31 May 2006, Lion has sold 4.0 million IAMGOLD shares
for approximately A$49 million at an average Gallery equivalent price of 55.7 cents, and
holds 0.9 million IAMGOLD shares.
• The sale of IAMGOLD shares is 80% complete, with $38 million pre tax profit
anticipated.