McFarlane Lake Mining Limited press release
lAMGOLD Reports Mineral Resources and Reserves for the Year Ended 2025
CSE - Canadian National Stock Exchange · Gold · Copper · Cobalt · Nickel · Arsenic · Canada
lAMGOLD Reports Mineral Resources and Reserves for the Year Ended 2025
All amounts are in US dollars, unless otherwise indicated.
Measured and indicated resources are quoted inclusive of proven and probable reserves for all sites
Toronto, Ontario--(Newsfile Corp. - February 17, 2026) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") announces its updated Mineral Resources and Mineral Reserves statement as of December 31, 2025 prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). A summary table of the Company's Mineral Resources and Mineral Reserves, including attributable ounces accounting for ownership interest, can be found at the end of this news release.
Highlights
Proven and Probable ("P&P") Mineral Reserves (100% basis) total 9.9 million ounces of gold in 279.6 Mt at 1.10 g/t Au (7.5 million ounces attributable). P&P Mineral Reserves decreased 7%, or 796,000 ounces, from the year prior, primarily due to depletion at Côté Gold and Essakane partially offset by an increase in Mineral Reserves at Westwood.
Measured and Indicated ("M&I") Mineral Resources (100% basis) increased 16% to 31.0 million ounces of gold in 1.0 Bt at 0.94 g/t Au (24.6 million ounces attributable). The increase was primarily associated with the conversion of Inferred Mineral Resources in the Gosselin deposit at Côté Gold and Nelligan deposit, coupled with the inclusion of the Philibert and Chevrier deposits as part of the Northern Superior transaction towards the end of the year.Côté Gold (Côté and Gosselin) M&I Mineral Resources, inclusive of Mineral Reserves and on a 100% basis, increased 12%, or approximately 2.0 million ounces, to an estimated 18.2 million ounces (12.7 million ounces attributable) as of December 31, 2025. Inferred Mineral Resources decreased approximately 2.0 million ounces to 2.2 million ounces.
Essakane M&I Mineral Resources (excluding Gossey), inclusive of Mineral Reserves and on a 100% basis, increased 11% to an estimated 4.4 million ounces (3.8 million ounces attributable) as of December 31, 2025, with a 50% increase in tonnes (to 150 Mt) offsetting a 26% decrease in grades (to 0.91 g/t Au, including stockpiles). The increase in tonnes and ounces underscores confidence in the potential for Essakane to extend its mine life within the fence beyond current guidance.
Westwood M&I Mineral Resources, inclusive of Mineral Reserves, increased 682,000 ounces to 2.4 million ounces as of December 31, 2025, with a 79% increase in tonnes (to 11.9 Mt) offsetting a 22% decrease in average grade to 6.24 g/t Au.
Inferred Mineral Resources (100% basis) decreased 2% to 12.5 million ounces (11.3 million ounces attributable).
Gold price assumptions for Mineral Reserves were updated to $2,000 per ounce for Westwood (including Grand Duc) and Essakane; and $1,700 per ounce for Côté Gold. 2025 Mineral Resources were updated using a gold price of: $2,500 per ounce for Essakane, Westwood (incl. Grand Duc), Nelligan, Monster Lake and Gossey; and $2,100/oz for Côté.
"I want to congratulate our exploration teams for their continued success in expanding our resource base. IAMGOLD today has 31 million ounces in Measured and Indicated Resources along with an additional 12.5 million ounces of Inferred Mineral Resources, positioning the company among the largest endowments of gold resources among mid-tier gold producers," said Renaud Adams, President and Chief Executive Officer of IAMGOLD. "Further, approximately 80% of our Measured and Indicated ounces and 90% of global Inferred ounces are located in Canada - reinforcing IAMGOLD as a leading Canadian, modern multi-asset mid-tier gold producer with significant growth potential."
"As we look at our operations, all eyes this year will be on Côté Gold, as our exploration and site teams are working tirelessly towards the technical report to be delivered in the fourth quarter which will outline a mine plan incorporating a plant expansion that will leverage a larger subset of ounces from the combined Côté and Gosselin pits. At Westwood, exploration activities will be conducted to support the study of options to expand the mine in the eastern parts of Westwood underground that could be potentially amenable to bulk mining. Additional extensions to the Grand Duc pit will also be investigated this year. At Essakane, the Mineral Resource tonnes increased 50% building confidence in the potential for the project to see a mine life extension beyond the current mine plan."
"It is going to be an exciting year at our Nelligan Mining Complex in the Chibougamau-Chapais region of Quebec, as we build on our acquisitions at the end of last year of Northern Superior and Orbec, which significantly increased our property package and the potential of the consolidated camp. This year we are substantially increasing our budget to $24 million for a comprehensive exploration program. The Nelligan Mining Complex already has a significant mineral inventory of over 4.3 million Measured and Indicated ounces and 7.5 million Inferred ounces, positioning the project among the largest pre-production stage gold projects in Canada. The exploration program this year will look to expand the mineralized footprint of both Nelligan and Philibert, while testing Monster Lake at depth, and then conducting regional exploration on high priority targets to further grow the potential of the project."
Mineral Reserves
TABLE 1: MINERAL RESERVES (@100%) SUMMARY1
2024220253%▲
TonnesGradeOuncesTonnesGradeOuncesTonnesGradeOunces
(000s)(g/t)(000s)(000s)(g/t)(000s)(000s)(g/t)(000s)
Côté Gold3,4
Proven127,7471.074,376116,0551.053,902-9%-2%-11%
Probable101,4270.912,965101,1120.973,1390%6%6%
Total229,1751.007,341217,1671.017,041-5%1%-4%
Westwood3,5
Proven (underground)71712.6129189710.8931425%-14%8%
Probable (underground)1,88610.986662,5659.3076736%-15%15%
Subtotal2,60311.439573,4629.721,08233%-15%13%
Proven (Grand Duc)3630.8096580.811781%2%85%
Probable (Grand Duc)1,0901.08381,2381.255014%16%31%
Subtotal1,4531.01471,8961.106730%9%42%
Total4,0567.701,0045,3586.671,14832%-13%14%
Essakane3,6
Proven (stockpile)18,8760.6539622,1780.6445717%-2%15%
Probable (open pit)44,0171.361,92034,9031.091,219-21%-20%-36%
Total62,8931.152,31657,0810.911,676-9%-20%-28%
Total P&P Reserves296,1241.1210,661279,6061.109,865-6%-2%-7%
Figures may not add due to rounding.
2024 Mineral Reserves estimated as of December 31, 2024, using a gold price of $1,500 per ounce for Essakane and Westwood underground, $1,800/oz for Grand Duc, and $1,400/oz for Cote Gold.
2025 Mineral Reserves estimated as of December 31, 2025, using a gold price of $2,000/oz for Westwood (including Grand Duc) and Essakane; and $1,700/oz for Côté Gold.
Côté Gold Mineral Reserves as of December 31, 2025 were estimated using a 0.46 g/t Au cut-off grade, up from 0.35 g/t Au at year end 2024.
Westwood (underground) Mineral Reserves as of December 31, 2025 were estimated using a 6.40 g/t Au cut-off grade, down from 6.82 g/t at year end 2024; Grand Duc Mineral Reserves as of December 31, 2025 were estimated using a 0.59 g/t cut-off grade, up from 0.54 g/t at year end 2024.
Essakane Mineral Reserves as of December 31, 2025 were estimated using a cut-off grade range of 0.31-0.44 g/t Au, down from of 0.39-0.55 g/t Au at year end 2024.
Proven and Probable Mineral Reserves, on a 100% basis for current assets, were estimated at 9.9 million ounces of gold (7.5 million ounces attributable) as of December 31, 2025, which was a 7% decrease or 796,000 ounces, from the year prior. At Côté Gold, Mineral Reserves decreased 301,000 ounces from the prior year period as updated estimates partially offset depletion (based on 10.9 Mt at 1.22 g/t for contained ounces of 428,100 ounces at 100% interest). The Côté Gold Mineral Reserve block model will be updated this year resulting in an updated mine plan incorporating both Côté and Gosselin. At Westwood, Mineral Reserves from the underground increased 125,000 ounces and 20,000 ounces from the Grand Duc open pit, more than offsetting depletion, primarily as a result of the change in resource model and increased gold price assumption and reduction in the underground cut-off grade to 6.40 g/t Au (down from 6.82 g/t Au previously). At Essakane, Mineral Reserves decreased 640,000 ounces, primarily due to depletion (428,000 contained ounces milled) and geology model adjustments as mining activities continue to progress through the mine plan.
Mineral Resources
Measured and Indicated ("M&I") Mineral Resources, inclusive of Mineral Reserves and on a 100% basis, for IAMGOLD's assets increased 16% or 4.3 million ounces, for a total of 31.0 million ounces as of December 31, 2025 (24.6 million ounces attributable). The increase was primarily associated with the upgrading of Mineral Resources at Côté Gold, Westwood and Nelligan, coupled with the acquisition of the Philibert and Chevrier deposits as part of the Northern Superior transaction towards the end of the year. Global Inferred Mineral Resources (on a 100% basis) decreased 2%, or 0.3 million ounces, to a total of 12.5 million ounces as of December 31, 2025 (11.3 million ounces attributable). Note that Inferred Mineral Resources have a great amount of uncertainty as to their grade and quantity because they are based on limited geological evidence. It cannot be assumed that all or part of the Inferred Mineral Resources will ever be upgraded to a higher category or converted to Mineral Reserves.
The Company assumed a gold price of $2,500 per ounce for estimating Mineral Resources as of December 31, 2025 at Essakane, Westwood Complex, Gosselin, Nelligan and Monster Lake. This was an increase from the year prior in which these operations assumed a gold price of $1,800 per ounce (except Gosselin which was at $1,700 per ounce) in the Mineral Resources estimate. The gold price assumption for Côté Gold was $2,100 per ounce, up from $1,700 per ounce previously.
Côté & Gosselin
Côté Gold (Côté and Gosselin) M&I Mineral Resources, inclusive of Mineral Reserves and on a 100% basis, increased 12%, or approximately 2.0 million ounces, to an estimated 18.2 million ounces (12.7 million ounces attributable) as of December 31, 2025. Inferred Mineral Resources decreased approximately 2.0 million ounces to 2.2 million ounces.
The 2025 drilling plan at Côté and Gosselin prioritized increasing the confidence in the existing resource and converting a large part of the Inferred Resource to the Indicated Resource category. The program was increased to approximately 53,750 metres for the year at Gosselin. The results of the Gosselin drilling program will inform the planned updated technical report which will consider a larger scale Côté Gold Mine with a mine plan targeting both the Côté and Gosselin zones over the life of mine. This updated technical report is expected to be completed by the end of 2026.
Essakane
Essakane M&I Mineral Resources, inclusive of Mineral Reserves on a 100% basis (excluding Gossey), increased 11% to an estimated 4.4 million ounces (3.8 million ounces attributable) as of December 31, 2025, with a 50% increase in tonnes (to 150 Mt) offsetting a 26% decrease in grades (to 0.91 g/t Au, including stockpiles). The increase in tonnes and ounces underscores confidence in the potential for Essakane to extend its mine life within the fence beyond current guidance (last year Essakane processed 12.6 Mt of ore at an average head grade of 1.18 g/t Au). Inferred Mineral Resources (excluding Gossey) increased 20% from the year prior to an estimated 853,000 ounces at 1.10 g/t Au.
TABLE 2: MINERAL RESOURCES SUMMARY (100%, incl. of Mineral Reserves)1
2024220253%▲
TonnesGradeOuncesTonnesGradeOuncesTonnesGradeOunces
(000s)(g/t)(000s)(000s)(g/t)(000s)(000s)(g/t)(000s)
Côté Gold4
Côté4
Measured162,1400.944,907153,8730.934,598-5%-1%-6%
Indicated276,4040.776,878268,8330.776,697-3%0%-3%
Total M&I438,5450.8411,785422,7070.8311,295-4%-1%-4%
Inferred60,3620.611,17762,7600.601,2064%-2%2%
Gosselin4
Indicated161,3000.854,420266,7410.806,86165%-6%55%
Inferred123,9000.752,98037,8400.79959-69%5%-68%
Total M&I599,8450.8416,205689,4470.8218,15615%-3%12%
Total Inferred184,2620.704,157100,6000.672,165-45%-5%-48%
Westwood5
Measured1,0629.153121,6197.2137552%-21%20%
Indicated5,6277.751,40210,3246.092,02283%-21%44%
Total M&I6,6897.971,71511,9436.242,39779%-22%40%
Inferred4,36912.821,8014,50710.461,5153%-18%-16%
Essakane
Measured21,1570.6443338,3120.5264081%-18%48%
Indicated78,7221.403,534111,6831.053,77242%-25%7%
Total M&I99,8791.243,967149,9950.914,41250%-26%11%
Inferred12,6231.7671324,1951.1085392%-38%20%
Gossey
Indicated8,3830.8723514,7950.7535576%-14%51%
Inferred1,6111.00522,6880.857467%-15%42%
Total M&I108,2621.214,402164,7900.904,76752%-25%13%
Total Inferred14,2341.6776526,8831.0792789%-36%21%
Nelligan Mining Complex7
Nelligan
Indicated102,8450.953,125122,0000.953,70019%0%18%
Inferred166,3950.965,161151,0000.964,647-9%-1%-10%
Monster Lake
Indicated23910.938424313.04102---
Inferred1,05314.444891,04614.83499-1%3%2%
Philibert6
Indicated00.0007,8841.10279N/AN/AN/A
Inferred00.00048,4651.101709N/AN/AN/A
Chevrier6
Indicated00.0006,4001.26260N/AN/AN/A
Inferred00.00015,6601.30652N/AN/AN/A
Total M&I103,0840.973,209136,5270.994,34132%2%35%
Total Inferred167,4481.055,650216,1711.087,50729%3%33%
Diakha-Siribaya5
Indicated27,9371.481,32527,9371.481,3250%0%0%
Inferred8,4681.534178,4681.534170%0%0%
Total M&I
Resources1845,8170.9826,6561,030,6440.9430,98722%-5%16%
Total Inferred Resources1378,7821.0512,791356,6281.0912,530-6%4%-2%
Figures may not add due to rounding.
2024 Mineral Resources estimated as of December 31, 2024, using a gold price of: $1,800 per ounce for Essakane, Westwood (incl. Grand Duc), Nelligan, Monster Lake and Gossey; and $1,700/oz for Côté and Gosselin.
2025 Mineral Resources estimated as of December 31, 2025, using a gold price of: $2,500 per ounce for Essakane, Westwood (incl. Grand Duc), Nelligan, Monster Lake and Gossey; $2,100/oz for Côté Gold, $1800/oz for Chevrier, $1747/oz for Philibert.
Côté Gold and Gosselin block models were adjusted for price and drilling data up to September 29, 2025. Drilling resumed at Côté through the year with the full data set to be incorporated into an updated Mineral Resources estimate to inform the Q4 2026 updated mine plan.
Diakha-Siribaya Mineral Resources are unchanged from the prior year, with an unchanged gold price of $1,500 per ounce. The definitive agreement to sell the Diakha-Siribaya Gold Project in Mali to Managem S.A. expired on December 31, 2024, and was not extended. The Company is pursuing alternative options for the sale of this asset.
Philibert and Chevrier were acquired with the closing of the Northern Superior transaction in December 2025. The prior Mineral Resources estimates for these assets are based on data as reported in the respective NI 43-101 Technical Reports. Philibert and Chevrier Mineral Resources (including underground Inferred Resources) are estimated as of December 31, 2025, using a gold price of $1,747 and $1,800 per ounce respectively.
At the time of the Northern Superior acquisition, disclosed estimates were 3.75 Moz Au Measured and Indicated Mineral Resources and 8.65 Moz Au Inferred Mineral Resources, which included Croteau. The Company opted to exclude the mineral resources previously associated with the Croteau property in its year-end update, resulting in reported totals of 4.34 Moz Au Measured and Indicated Mineral Resources and 7.50 Moz Au Inferred Mineral Resources.
Westwood
Westwood M&I Mineral Resources, inclusive of Mineral Reserves, increased 682,000 ounces to 2.4 million ounces as of December 31, 2025, with a 79% increase in tonnes (to 11.9 Mt) offsetting a 22% decrease in average grade to 6.24 g/t Au. Inferred Mineral Resources decreased 16%, or 286,000 ounces to 1.5 million ounces with an average grade of 10.5 g/t Au.
Nelligan Mining Complex
The Nelligan Mining Complex, situated in the Chibougamau-Chapais region of central Quebec, encompasses the Nelligan, Philibert, Chevrier, and Monster Lake deposits. The Philibert and Chevrier deposits were added to the portfolio following the completion of the Northern Superior transaction in December 2025.
On a consolidated basis, the Nelligan Mining Complex reported a significant increase in Indicated and Inferred Mineral Resources. Indicated Resources increased 1.1 million ounces to a total of 4.3 million ounces at an average grade of 0.99 g/t Au. Inferred ounces increased 1.9 million ounces to a total of 7.5 million ounces at an average grade of 1.08 g/t Au. The Nelligan deposit reported an increase of 575,000 ounces in Indicated Mineral Resources, to a total of 3.7 million ounces at an average grade of 0.95 g/t. The increase was primarily a result of the infill program conducted last year to increase the confidence in ounces from Inferred Mineral Resources.
This year, IAMGOLD has outlined a budget of approximately $24 million for exploration activities within the Nelligan Mining Complex. The goal of the program will be to conduct thorough testing of Philibert, expand Nelligan and continue to test Monster Lake at depth all in support of a conceptual preliminary economic assessment in 2027. Further, the Company is eager to test high priority targets within the region.
TABLE 3: MINERAL RESOURCES AND MINERAL RESERVES AS OF DECEMBER 31, 20251,2,3,4,5,6,7,8
Mineral Resources are inclusive of Mineral Reserves
TonnesGradeOuncesAttributable Ounces
(000s)(g/t Au)(000s)(000s)
Côté Gold, Canada
70%
Côté
Proven Mineral Reserves116,0551.053,9022,731
Probable Mineral Reserves101,1120.973,1392,197
Subtotal P&P217,1671.017,0414,929
Measured Mineral Resources153,8730.934,5983,219
Indicated Mineral Resources268,8330.776,6974,688
Subtotal M&I (incl. of Reserves)422,7070.8311,2957,907
Inferred Mineral Resources62,7600.601,206844
Gosselin
Indicated Mineral Resources266,7410.806,8614,803
Inferred Mineral Resources37,8400.79959671
Total M&I689,4470.8218,15612,709
Total Inferred100,6000.672,1651,515
Westwood, Canada
100%
Proven Mineral Reserves1,5556.63331331
Probable Mineral Reserves3,8036.68817817
Subtotal P&P5,3586.671,1481,148
Measured Mineral Resources1,6197.21375375
Indicated Mineral Resources10,3246.092,0222,022
Subtotal M&I (incl. of Reserves)11,9436.242,3972,397
Inferred Mineral Resources4,50710.461,5151,515
Essakane, Burkina Faso
85%
Proven Mineral Reserves22,1780.64457388
Probable Mineral Reserves34,9031.091,2191,036
Subtotal P&P57,0810.911,6761,425
Measured Mineral Resources38,3120.52640544
Indicated Mineral Resources111,6831.053,7723,207
Subtotal M&I (incl. of Reserves)149,9950.914,4123,750
Inferred Mineral Resources24,1951.10853725
Gossey
Indicated Mineral Resources14,7950.75355302
Inferred Mineral Resources2,6880.857463
Total M&I164,7900.904,7674,052
Total Inferred26,8831.07927788
Nelligan Mining Complex8, Canada
100%
Nelligan
Indicated Mineral Resources122,0000.953,7003,700
Inferred Mineral Resources151,0000.964,6474,647
Monster Lake
Indicated Mineral Resources24313.04102102
Inferred Mineral Resources1,04614.83499499
Philibert7
(75%7)
Indicated Mineral Resources7,8841.10279209
Inferred Mineral Resources48,4651.101,7091,282
Chevrier7
Indicated Mineral Resources6,4001.26260260
Inferred Mineral Resources15,6601.30652652
Total M&I136,5270.994,3414,271
Total Inferred216,1711.087,5077,079
Diakha-Siribaya, Mali6
90%
Indicated Mineral Resources27,9371.481,3251,193
Inferred Mineral Resources8,4681.53417376
Total Proven & Probable Mineral Reserves279,6061.109,8657,502
Total Measured & Indicated Mineral Resources1,030,6440.9430,98724,622
Total Inferred Mineral Resources356,6281.0912,53011,273
Figures may not add due to rounding.
In mining operations, Measured Mineral Resources and Indicated Mineral Resources that are not Mineral Reserves are considered uneconomic at the price used for Mineral Reserves estimations but are deemed to have a reasonable prospect of economic extraction.
See "Cautionary Note to U.S. Investors Regarding Disclosure of Mineral Reserves and Mineral Resources Estimates".
2025 Mineral Reserves estimated as of December 31, 2025, using a gold price of $2,000 per ounce for Westwood (including Grand Duc) and Essakane; and $1,700 per ounce for Côté Gold.