Regarding the estimated costs increases of the Cote Gold Project (Canada) announced by IAMGOLD

July 23, 2021
Sumitomo Metal Mining Co., Ltd.

Sumitomo Metal Mining Co., Ltd. (Head Office: Minato-ku, Tokyo, Japan; President & Representative Director: Akira Nozaki; hereinafter, "SMM") has confirmed Canadian gold mining company IAMGOLD Corporation (Head Office: Toronto, Canada; President & CEO: Gordon Stothart; hereinafter, "IMG"), SMM's partner in the Cote Gold Project (IMG and SMM hold a combined 92.5% interest in the project; IMG:SMM stake-holding ratio of 70:30, hereinafter, "the Project") in Ontario, Canada, has announced that IMG has identified certain estimated costs increases of the Project. SMM will review this and announce the results as soon as they are confirmed.