I-Minerals Inc. announced that December 16, 2014 all contracts with respect to the feasibility study of the Bovill Kaolin Project (the "FS") have been awarded. Firms participating in the FS include: GBM Engineers LLC, HDR Engineering, Tetra Tech Inc., Mine Development Associates and SRK Consulting.GBM is reviewing the flow sheet designed as part of the June 2014 Prefeasibility Study to determine if process changes can improve the product mix and product quality. The final steps of the bulk sample processing at Ginn Mineral Technology (GMT) in Sandersville, Georgia, which include the preparation of a metakaolin product, brightness studies, and the final drying of the halloysite, are nearing completion.

At the Minerals Research Laboratory in Asheville, North Carolina, the quartz/K-spar sand screened from the primary clay by GMT is being dried in preparation for bench scale testing to confirm the parameters for the full pilot plant which is expected to start operation around the first week of February.