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This presentation may contain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of I-Minerals to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements may include statements regarding exploration results and budgets, resource estimates, work programs, strategic plans, market price of industrial minerals or other statements that are not statements of fact. Although I-Minerals believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Various factors that may affect future results include, but are not limited to, fluctuations in market prices of minerals, foreign currency exchange fluctuations, risks relating to exploration, including resource estimation and costs and timing of commercial production, requirements for additional financing, political and regulatory risks, and other risks described in I-Minerals’ management discussions and analyses as filed on SEDAR. Accordingly, undue reliance should not be placed on forward-looking statements

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Supplier to the Economic Rebound

• US domestic reporting issuer located in mining friendly Idaho
• June 2014 PFS indicates IMA will be a low cost producer of four

unique high value industrial minerals: K-spar, high purity quartz, kaolin, halloysite all contained in one deposit

• minerals are consumed in manufacturing of products that are

consumed in housing and infrastructure – sectors that are key contributors to the economic recovery

• K-spar: N.A. class; used in glazes tiles and sanitaryware
• Quartz: N.A. class; used in high end glass
• Kaolin: N.A. class;  metakaolin = pozzolan used in cement
• Halloysite: world class; plastics, polymers, life sciences
• Low CAPEX; short lead time to production (~1.5 year after FS

funded)

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Quantifiable Value:

• Market Cap <$20 million; PFS (after tax) NPV > $200 million
• 2014 PFS: $73mm CAPEX; $212 NPV(6%); 30%IRR (SRK; after tax)
• 70% of “
• re”

mined is processed into mineral products

• PFS EBITDA averages $36mm per annum
• PFS Free Cash Flow $24mm per annum (unlevered)
• November 2014 Imerys acquired S&B at 9.2 times EBITDA
• Euro Pacific Capital Inc. “

Buy” $0.70 target (02/20/15)

• FS underway; expected completion November 2015
• Non-metallic mine, simplified State level permitting = no EIS
• Experienced Management led by Thomas Conway (Newmont)
• Insider ownership ~35% led by Allen Ball

Location: Latah County NW Idaho; ~110 miles South of Spokane, WA Brownfield project, previously mined /

• logged. Prior mining in 70s developed

excellent infrastructure;

• Power and gas within 2 miles
• State highway about 5 miles;

< 100 miles to Interstate

• Rail: 50 miles to Lewiston (BN& UP);

trunk lines to Spokane (UP);

• Tidewater Access to Portland by barge via Snake / Columbia Rivers or truck /

container via Interstate 84; to Seattle by truck via Interstate 90 Supportive community - economically depressed resource based county Land Tenure: Idaho Department of Land Mineral leases. Subject to 5% royalty to State Education Fund  State’ s financial interest aligned with I-Minerals.

Helmer-Bovill Project

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MINERAL PRODUCTS

Clay Minerals (from weathering of Na feldspar)

Halloysite [Al2Si2O5(OH)4·2H2O]

• Biodegradable tubular morphology
• I-Minerals world class: high aspect ratio; low heavy

metals no crystalline silica, alunite or cristobalite(Durtec)

• Traditional uses porcelain / fine bone china
• Emerging uses: plastics/polymers ( strength weight),

life sciences (delivery mechanism, cosmetics), Environmental(nanoporous membranes for separation),

Kaolin [Al2Si2O5(OH)4]

Kaolin calcined (heated to 770oc), bonded water evaporates  Metakaolin = a pozzolan -a silicate-based material that consumes calcium hydroxide (lime) to produce additional calcium silicate hydrate, the material responsible for holding concrete together. Consuming lime increases the strength and density of concrete, decreases efflorescence; virtually eliminates alkali-silica reaction. Metakaolin is currently sourced from S.E. USA = expensive. Fly ash (from coal) a low cost alternative; environmental issues.

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Sand Minerals

Quartz [SiO2]

Value determined by purity (SiO2% and how impurities react in melt tests) and fineness of the grind I-Minerals has achieved 99.98% SiO2 purity through flotation (Cerium 2014) - the low end of high purity quartz market Applications: solar glass, LCD monitors/flat panels, specialty lighting. Removal of a few ppm of Ti opens higher value markets: fiber optics, LED lighting (Dorfner results)

K (Potassium)-Feldspar [KAlSi3O8] (“ K-spar” )

Value: determined alkali content, purity, K2O%, grind I-Minerals K-spar products are best in class: very high K2O, very low iron, high alumina (Al) Applications: ceramic bodies and glaze (tiles, sanitary ware, tableware); technical ceramics (aerospace, medical, military), flux in high temperature glazes

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Industrial Mineral Consumption 1990-2013

USGS Basket of 9% K-spar, 48% Na-spar & 43% Nepheline Syenite Strong Growth; Steadily Increasing Prices

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5.4% annual growth Divergence 3.1% p.a. nominal growth 0.6% p.a. real growth

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MINERAL PRODUCT VALUES

Average operating costs about $70 per ton of product or $50 per ton of ore

Mineral Market Size (000s tons) (1) Price & Revenue Estimates ($/t) Min Max Location IMA Target Growth $ Min $ Max % PFS Revenue $/t Growth Halloysite 150 180 Global 12

(2)

300 +2500 20%

(3)

Kaolin 50 +250 West US 45

(4)

100 500 13%

(5)

Quartz 800 1000 US & Asia 108



50 500 45%

(6)

K-spar 200 250 US 47 (7)



100 500 22%

(8)

Notes (1) Based upon study by Charles River Associates

(2) Increased use in plastics polymers key (3) IMA best purity and aspect ratio

(4) Metakaolin makes in roads into fly-ash market (5) IMA price growth as shift ceramic apps to metakaolin (6) Demand for HPQ off as solar growth currently slow (7) Imerys now closed Monticello GA plant was 50k tons (8) N.A. production @$240/t Custer- lower grade; +$350/T

FOB Spain for IMA comparable K-spar

Mineral Market Events & Catalysts:

• Imerys closes Monticello K-Spar Mine in Georgia (Dec. 2014) after 47

years of operation. Pacer Corp.’ s Custer K-spar (10% K20) only domestic supply. Imerys/Unimin offer Spanish/Indian K-spar at $350/T FOB Spain/India.

• Metakaolin reduces Greenhouse Gas Emissions: an alternate pozzolan

to flyash (ash from coal fired power plants); in producing cement, significant heat (1500o C) is required to fuse elements into cement clinker producing major greenhouse gas emissions and even more CO2 is produced from the reaction caused by burning the limestone. One study estimated that every ton of cement produced created one ton of CO2. Metakaolin reduces energy requirements and greenhouse gas emissions – and makes superior cement.

• Commercialization of Life Science Application: Hallopure is the best

halloysite (aspect ratio, purity) available, commercialization of prototypes being tested (e.g. wound dressings); limited supply option pricing.

• Recovery of Solar Sector through shift to thin film technologies; solar power

championed in presidential speeches will firm quartz pricing to 2013-14 levels

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MINING AND METALLURGY

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Simple Mining

“ Ore” is a fine white clayey sand created by the weathering of Thatuna Granodiorite, a unique border phase of the of the Idaho Batholith. Weathering takes place to depths of 75 to 200 feet; little overburden, shallow pits Ore is excavated without drilling or blasting using contract miners utilizing 3 yd3 excavator and 30 ton trucks Short haul to process facility -10 minute cycle time during daylight hours

PFS Mining Costs $9 / ton product

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Basic Flow Sheet

Wet Screen separation Sand fraction from Clay Quartz K-Spar Sand Fraction

• K-spar is separated from quartz via basic flotation
• Quartz fraction is ground finer and then re-floated 

TrueQ1 product, re-floated up to 2 more times to remove residual K-spar to make high purity quartz products (TrueQ2 and TrueQ3) Kaolinite Halloysite Clay Fraction

• Halloysite is separated from kaolinite with centrifuge
• Differential flotation  +90% halloysite product
• Halloysite slow dried to preserve tubular shape
• Kaolin calcined (heated to 7000C) to make

Metakaolin High value, high purity products are created without chemical processing or leaching.

PFS processing costs $60/t product

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Permitting

• EPA has ruled Bovill Kaolin a non-metal mine
• Brownfields property logged and previously mined
• Project designed to not impact wetlands to avoid

NEPA process. USACE has conducted preliminary site visit, updated information, road design submitted; Waiting for final USACE field verification No NEPA = NO EIS required (akin to permitting a gravel quarry)

• Preliminary meeting with IDEQ on air

permitting with procedures being put in

• place. All permitting can be obtained 6

months from application.

• Only State level permitting required;

expected completion Q4 2015

• Company is selling tailings under

similar permit and has precedents established and relationships with regulators in place

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ECONOMIC VALUATION

Bovill Kaolin Prefeasibility Study (“PFS”)

• Completed by SRK Consulting (USA), Denver, CO June 2014
• Mining 8hrs/day 5 days/week; milling at 24/7

INITIAL CAPEX US$ 72.7 million SUSTAINING CAPITAL Life of Mine $18 million Before Tax: NPV6 $US 330 million IRR 38.2 % After Tax: NPV6 $US 212 million IRR 30.5 % Payback 3 years

• Avg. EBITDA $36 mm/yr

Fee Cash Flow $24mm/yr

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Mineral Price EBITDA Sensitivities

(when 1 mineral price is varied, others held at PFS levels)

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EBITDA OF $11mm with 50% reduction in ALL mineral prices PFS EBITDA $36mm

Select Mineral Price EBITDA Scenarios

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Case A Halloy $50 Kaolin $50 Quartz $100 K-spar $185 Case B Halloy $200 Kaolin $200 Quartz $100 K-spar $185 Case C Halloy $600 Kaolin $200 Quartz $150 K-spar $200 Case D Halloy $750 Kaolin $220 Quartz $150 K-Spar $240 PFS Halloy $ 840 Kaolin $160 Quartz $222 K-spar $247 Case E Halloy $840 Kaolin $180 Quartz $150 K-spar $250 Case F Halloy $900 Kaolin $200 Quartz $175 K-spar $250 Case G Halloy $1000 Kaolin $220 Quartz $200 K-Spar $300 Case H Halloy $1200 Kaolin $220 Quartz $220 K-Spar $350 halloysite rev. 625 2,500 7,500 9,375 10,500 10,500 11,250 12,500 15,000 kaolin rev. 2,250 9,000 9,000 9,900 7,200 8,100 9,000 9,900 9,900 quartz rev. 10,750 10,750 16,125 16,125 23,865 16,125 18,813 21,500 23,650 k-spar rev. 8,695 8,695 9,400 11,280 11,609 11,750 11,750 14,100 16,450 Gross Revenue 22,320 30,945 42,025 46,680 53,174 46,475 50,813 58,000 65,000 IDL Royalty (1,116) (1,547) (2,101) (2,334) (2,659) (2,324) (2,541) (2,900) (3,250) OP Cost (14,155) (14,155) (14,155) (14,155) (14,155) (14,155) (14,155) (14,155) (14,155) Market & Sales (205) (205) (205) (205) (205) (205) (205) (205) (205) EBITDA 6,844 15,038 25,564 29,986 36,155 29,791 33,912 40,740 47,390

$240/t Pacer <10% K20 K-spar (Custer) price $150/t quartz price Unimin's Puresil; same purity TrueQ1 $220/t Imerys' metakaolin price FOB Georgia $350/t K-spar Imerys Spanish K-spar FOB Spain $50/t Halloysite / Kaolin Ceramic filler price $100/t price for 99.0% SiO2 quartz $185/t K-spar price before Monticello closed $200/t halloysite / kaolin all into metakaolin $750/t Imerys NZ halloysite FOB NZ

…A few Comparables (note different Au prices)

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NPV/CAPEX (note different Au prices and discount rates)

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Bovill Kaolin FS Progress to July 30/15

Reserves defined to Proven / Probable resources for 25 year mine life. GBM engaged to manage FS (January 2015); FS 55% complete July 30/15; Bulk density analysis completed; reviewed by SRK; prior estimates conservative Bulk sample processing from sites selected by SRK ongoing:

• Ginn Mineral Research (Sandersville,GA)

Phase 1 clay fraction processing complete. Samples being distributed to customers

• Minerals Research Laboratory (Ashville,NC)

Sand fraction - K-spar pilot plant complete; quartz pilot plant ongoing.

• Shift to dry stack of tailings modest CAPEX

increase, material decrease in sustaining capital; FS Costs included in PFS CAPEX

• At current K-spar price ($250/t), K-spar

sales pay +80% of OPEX + G&A based on June 2014 PFS assumptions;

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MANAGEMENT

And Capital Structure

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Management:

Thomas M. Conway, President & CEO: Extensive experience building,

commissioning and operating mines around the world for Newmont Mining:

• Vice President Risk Management: Developed risk management strategies for

health, safety, environmental, social responsibility, legal

• Vice President / General Manager–Carlin Operations: Responsible for the P/L
• f 2 mm oz./yr. operation with 1600 employees; 5 open pits, 3 u/g mines & 3 met. facilities
• Vice President / General Manager Mineral Yanacocha: oversaw start up of 2

metallurgical plants and 3 open pits of Newmont’ s most profitable gold mine

Lamar Long, Project Manager: career in industrial minerals including 12 years with

I-Minerals, 13 years as Exploration Manager, Industrial Minerals, Hecla Mining assessing industrial mineral deposits around the world and six years with JM Huber in Georgia Clay Belt.

Gary Nelson, Metallurgical Operations Manager: management / supervisory

experience in industrial mineral production and pilot plant operations including Plant

• Superintendent. AZCO Mining; Sr. Metallurgical Engineer, Hecla Mining (KT Clay/Feldspar)

Linda Koep, Market Development Manager: Market Development Strategy and

competitive analysis; 23 years industry experience, 9 with Hecla Mining (KT Clay/Feldspar)

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Directors:

Thomas M. Conway, (Salt Lake City, UT) President & CEO (see prior page) Allen L. Ball, (Idaho Falls, ID) Founder and Chairman of Melaleuca Corporation that has

grown from a start-up in rural Idaho to a billion-dollar enterprise doing business in 17 countries around the globe and is now one of the largest catalog and online retailers in North America; Successful real estate developer through Ball Ventures, LLP.

• J. Gary Childress, (Columbus OH) President Orton Ceramic Foundation that provides

products to assist and enhance high temperature processing of ceramics and other materials. Prior thereto he was an Executive Vice President of Helca Mining where he was integral to the success of its industrial mineral assets including KT Clay / Feldspar

• W. Barry Girling, (Vancouver, BC) Independent business consultant active in resource

exploration companies for almost 30 years and has served on numerous boards most recently as founder / former director of both Birch Hill Gold Corp. and Roxgold Inc.

Wayne Moorhouse, (Vancouver, BC) Chartered Financial Analyst, (CFA Institute,

Charlottesville, VA) extensive experience with public companies including reporting, mine development, finance, contract negotiations, and corporate governance and has served as a director / officer of several companies including Roxgold Inc.

Chief Financial Officer: Mathew J. Anderson, CPA, CA is a Senior Consultant

with Malaspina Consultants Inc., and has served as CFO of several junior public companies

Capital Structure (August 12, 2015)

Issued & Outstanding 82,608,728

(insiders 35.8%)

Warrants

23,957,978

20mm @$0.40 until April 29, 2016 1.55 mm @ $0.40 until January 31, 2016

Options

5,435,000

Fully Diluted

113,086,975 (insiders 36.7%)

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Summary:

Robust 2014 PFS

• $72.7 mm initial CAPEX; $90.8 mm Life of Mine
• 3 year payback
• Annual Free Cash Flow $23-25 million
• Strong NPV and IRR

Before Tax After tax $330mm NPV6 $212 mm NPV6 38 % IRR 30.5 % IRR Long mine life only 25 years defined; 50+ year potential  long term cash flows  high valuation multiples (e.g. Imerys acquisition

• f S&B Minerals for +9 times EBITDA

Diversified product and product market mix: four mineral products in various purities and grinds available for sale into markets diversified by both geography and industry, but most markets are integral to the US housing / economic recovery.

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I-Minerals Inc.

OTCQX: IMAHF TSX.V: IMA

www.imineralsinc.com Contact Thomas Conway Barry Girling (801) 561-3861 (877) 303 6573 ext. 102 tmconway@imineralsinc.com wbg@imineralsinc.com

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