Received by email:

File: 141222 imadeb.doc

                                                                 I-Minerals Inc.
Suite 880 - 580 Hornby Street
Vancouver, BC, V6C 3B6
Phone: 604.303.6573
Fax: 604.684.0642
Email: info@imineralsinc.com
 




I-Minerals Inc. completes Debt Settlement


Vancouver, B.C. - December 22, 2014 - I-Minerals Inc. (TSX.V: IMA; OTCQX: IMAHF) (the "Company") announces that it has
---> completed the debt settlement agreement announced December 5, 2014, pursuant to which accrued interest of $356,846.45
---> Cdn. has been satisfied by the issuance of 1,622,029 common shares issued at a deemed price of $0.22 Cdn. per share, 
--->all of which shares are subject to a hold period in Canada until April 18, 2015.

I-Minerals Inc.

Per:  "Thomas M. Conway"

Thomas M. Conway,
President & CEO

The securities referred to in this news release have not been, nor will they be, registered under the United States Se
--->curities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or
---> benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
--->  This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any 
--->securities.  Any public offering of securities  in the United States must be made by mean of a prospectus containing d
--->etailed information about the company and management, as well as financial statements.


Contact:
 
Barry Girling
 
Paul J. Searle
 
 
 877-303-6573 or   604-303-6573 ext. 102
 877-303-6573 or   604-303-6573 ext. 113
 
 
 Email: info@imineralsinc.com 
Or visit our website at www.imineralsinc.com 
 Email: psearle@imineralsinc.com

 
 
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE 
--->TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding fu
--->ture events or results that may prove to be inaccurate as a result of risk factors beyond its control, and actual resu
--->lts may differ materially from the expected results.