QUARTERLY FEASIBILITY AND PERMITTING UPDATE ON KELLY�S BASIN FELDSPAR � QUARTZ DEPOSIT
Vancouver, B.C.

(May 4, 2009) -- i-minerals inc.

(TSX.V: IMA, the �Company�) i-minerals provides the following update with respect to ongoing permitting and feasibility activities. Feasibility SRK Consulting (US) Inc.

(�SRK�), is directing the feasibility study (the �FS�) for i-minerals Kellys Basin feldspar-quartz deposit located near Bovill, Idaho.

When completed, the FS will forecast all elements of the project to an expected accuracy of �15%.

The FS will be reviewed by financial institutions as part of their due diligence for project financing. A NI 43-101 compliant summary document will be filed on SEDAR upon completion of the study.

Principal elements of the project currently being addressed for the FS are the final mine plan, completion of the haul road design and mine waste dumps, contract mining costs, infrastructure needs, and hydrologic modeling of dewatering the pit.

* The final mine plan will be completed once the final design of the stream diversion that will run around the edge of the pit is completed.

* Geotechnical work and preliminary design of the haul road and mine waste dumps are complete with approval of the final reports still pending.

* Initial bids for the mine activity (stripping, mining, haulage and road maintenance) have been received from mining contractors, while mine infrastructure needs are being assessed and planned.

* A water well was drilled in the mine area last October and a pump test was run out of this well.

Data from this test, monitoring data from the two piezometers, and hydrogeological data collected in the Moose Creek watershed will be used in modeling the hydrology in order to finalize the water balance within the mine area and to determine any surrounding effects of dewatering the pit during mining.

The results of the modeling are not only needed for determining water control operating costs at the mine and water needs at the plant, but also to support the application for the water rights permit. Plant Design The pilot plant run on a 5-ton sample produced from drill core has been completed, leading to the completion of the process flow sheet.

Based on the pilot plant information, schematics of each circuit have been drawn and water balances calculated.

This information will be used in the engineering construction design once the plant site location is finalized. The geotechnical work for the plant foundation and tailings impoundment and preliminary process design in which an engineering contractor will develop a conceptual layout of the plant including the tailings area, will start once the plant and tailings impoundment sites have been finalized as discussed below.


Permitting Tetra Tech, Inc.

(TetraTech) is the consulting company contracted by i-minerals inc.

responsible for the environmental assessments and permitting.

As last reported, the US Army Corps of Engineers (the �Corps�) is the lead regulatory agency in the primary permitting and environmental evaluation process.

Upon the completion of the public comment, additional information was requested including (i) more detailed design of the stream diversion around the pit, (ii) the final pit configuration in relation to the reclamation plan, and (iii) the specific location of the plant and tailings impoundment.

As noted above, the final design of the stream diversion is nearing completion.

The final location of the plant and tailings impoundment is delaying the completion of the mine plan and the Section 404 Wetland Permit Application. The most favorable prospective location for both the plant and tailings impoundment is land controlled by the State of Idaho previously disturbed by mining that is contiguous with i-minerals mineral leases.

This location hosts a depleted open pit from prior clay mining operations that might be used as the tailings impoundment.

After filling with tailings, the ground could be restored to the original approximate contour level and then reclaimed.

There is additional area around this previously disturbed mine area to place a plant without having to deforest large areas.

Other potential mill and tailings facility locations would necessitate cutting timber on larger portions of the State lands and require the use of longer segments of public roads.

Based upon these attributes and other benefits to regional stakeholders, i-minerals has made application to the Idaho Department of Lands (the �IDL�) to gain access to this favorable location.

i-minerals has made detailed presentations to both the IDL and the Idaho Land Board staff.

The Company is confident this favored location offers the best logistics, and minimizes certain environmental factors; however, the Idaho Department of Lands continues to review the application and these delays have prevented access to the most favored site for purposes of environmental evaluation, which in turn, has caused the Corps to place its permit review and environmental evaluation process on hold pending the Idaho Department of Lands leasing decision It is difficult to accurately predict the associated timeframe to conclude this process.

i-minerals inc.
per: �Roger Kauffman�
Roger Kauffman,
President & CEO
Contact: i-minerals inc. Encompass Communications Inc.
Barry Girling
877-303-6573 or 604-303-6573 877-566-6592 or 604-630-0770
Email: Or visit our website at www.imineralsinc.com Email:
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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. Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.