Palladium considers investments across a range of
industries and target markets and has a particular focus on companies that are
well-positioned to capitalize on the fast-growing U.S.

A.

zoutman quartz

212-218-5150
http://www. Physical and optical
characterization included Particle Size Distribution (PSD), Viscosity,
Abrasion, Tappi Brightness and Whiteness. Including the production of these byproduct minerals, it
appears we should be able to generate total yields in excess of 70% from
every ton of crude residual clay.

This News Release includes certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of
1995.

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NEW YORK, Prince Mineral Company, Inc.com

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("Prince"),
announced today that it has acquired the business and assets of American
Minerals , Inc. (TSX-V: IMA) has received a
grant from the United States Department of Agriculture -- Rural Development
(the "USDA") for an industrial site scoping study intended to identify the
most prospective location for the processing and storage of feldspar,
quartz and kaolin clay in the Bovill area. Classification to 80% +lt; 2 microns yields a product that is
virtually all halloysite and kaolinite .

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This is a positive event for the employees,
suppliers and customers of both companies. Primary applications include the foundry, glass, abrasives and
refractory markets. is undertaking detailed testing
of the Company's clays, which include both kaolinite and halloysite.
Suite 880 - 580 Hornby Street
Vancouver, BC, V6C 3B6
Phone: 604.684.

"We are very pleased with the kaolin results to date," stated Roger
Kauffman, President and CEO of i-minerals inc. Lamar Long, CPG, is the Qualified Person ("QP") for the Helmer-Bovill
project under NI 43-101.

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HPQ products can be value added
products worth many times that of standard quartz products.

i-minerals inc."

A.

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Prince's Chairman, Willson Ropp, commented, "American Minerals is a leader
in industrial minerals with longstanding customer relationships and a talented
and experienced management team., founded in 1960, processes and trades a range of
industrial minerals, including chrome, zircon, magnesite and iron pyrites from
four locations. The quartz, non-magnetic fraction from a previously produced
feldspar product is being re-floated using standard processes in an effort
to produce the highest purity quartz product possible.
i-minerals has also assembled a composite sample of drill core from the
400-foot grid drill program. The classified sedimentary kaolin
product did not respond as well to the SC magnet and leaching, but calcined
products of a +lt; 325 mesh fraction and the 90% +lt; 2 micron fraction have
brightnesses of almost 84% and over 87%, respectively.

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Terms of the acquisition were not disclosed .." The report indicates that the calcined sedimentary
clay product should have significant value in the mid-brightness calcined
clay markets. It is important to note that
the majority of the byproducts generated during kaolin production are
minerals of economic significance -- quartz, potassium feldspar and
possibly mica. He oversees the quality control and quality
assurance program and the construction of all samples for metallurgical
analysis and reviews all analytical results prior to public release.

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Rodriguez, Managing Member of Palladium Equity Partners, LLC
commented, "We are extremely pleased to have American Minerals joining Prince. It services a variety of industries and
its products, which are primarily iron and manganese compounds, enjoy
widespread use in bricks , cement, steel, and numerous other applications. The
company operates four processing facilities strategically located in the US
covering the Northeast, Midwest, and Southern markets.

PRESS RELEASE USDA Rural Development Grant Received for Industrial Site Scoping Study in Bovill Area

Lamar Long , CPG, is the Qualified Person ("QP") for the Helmer-Bovill
project under NI 43-101.

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Prince Mineral Company Inc. Announces the Acquisition of American Minerals Inc.

The
combination will allow us to provide additional services to our customers and
will broaden our geographic reach.

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Results from both the quartz and composite
sample work are expected in the next 3 to 5 weeks.

In addition , Ginn Mineral Technology, Inc..

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("AMI").S.

Contacts:
Prince Mineral Company, Inc .com

Marcos Rodriguez
Palladium Equity Partners, LLC
212-218-5150
http://www.

i-minerals inc.

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Prince Mineral Company, Inc. Formed
in 1997, Palladium is led by an experienced team of investment professionals
and currently has committed equity capital in excess of $500 million. Hispanic market. The scoping study will be used
by both the City of Bovill and i-minerals to locate the most suitable site
and will consider a broad spectrum of factors including land availability,
utility access, transportation access, rail access, constructability,
environmental impacts and other related factors.303.

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Since 1986, the
principals have invested almost $1 billion of equity in 28 portfolio
companies. Ruen -- Yeager &
Associates of Coeur d'Alene, Idaho, has been selected to complete the
industrial site scoping study.5% to 93% were achieved from the 80% +lt; 2 micron material
after being treated with a super-conducting ("SC") magnet and leached -- an
accepted kaolin process technology.

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"As we move further along the feasibility process it will become
increasingly important to have the plant site location selected as it has
implications for both the capital and operating cost estimations,"
commented Roger Kauffman, President and CEO of i-minerals."

i-minerals is pleased to provide the following update on ongoing property
developments . Should this
preliminary flotation work produce a quartz product of sufficient purity,
i-minerals will undertake additional testing to determine if a high purity
quartz ("HPQ") product can be produced . This sample was created from several
uniformly spaced drill holes and is intended to be the basis of the
metallurgical work for the reserve calculations for the Kelly's
Basinfeldspar-quartz deposit . The resource calculation will be based on 400-foot drill
hole centers, sufficient to demonstrate an Indicated and/or Measured
resource.0642
Email: info@imineralsinc.

PRESS RELEASE Kaolin Testing Yields Excellent Results

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Palladium Equity Partners, LLC, based in New York, is a private equity
firm focusing investments in middle market companies with the objective of
generating superior risk-adjusted returns through proven financial and
operating expertise. Hispanic market.

The Company sent three samples comprised of two primary or residual clay
and one sedimentary clay samples to Ginn Mineral Technology to characterize
the clay samples for physical, chemical and mineralogical properties as
well as assess the responsiveness of the clays to commercial processing
technologies . The chemical and mineralogical
analyses show the sedimentary clay crude to be primarily kaolinite with
quartz and minor halloysite and muscovite. Tappi
Brightnesses of 90. This attribute has significant value in the paper, paint
and ceramic industries. Kaolin yields
from this bench scale processing compare favorably with other residual clay
producers such as those in Cornwall, England .

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(TSX-V: IMA) has received
results for its initial kaolin testing program from Ginn Mineral
Technology that show the kaolinitic clays of the Helmer -- Bovill property
responding favorably to standard kaolin processing techniques to produce
kaolin products that have significant value in the paper , paint and ceramic
industries.

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The acquisition of AMI provides Prince with
growth and expansion opportunities into new markets and products. Two series of metallurgical tests are currently ongoing at
the Minerals Research Laboratory at North Carolina State University
("MRL"). The resource estimate
and accompanying 43-101 report are expected in the next 2 to 4 weeks. The
first phase of work was very encouraging, and i-minerals expects the latest
work to provide a more thorough characterization of the clays and an
analysis of what products and markets the clays are best suited for.
Management is expecting results in the next 2 to 4 weeks and will provide
an update at that time. He oversees the quality control and quality
assurance program and the construction of all samples for metallurgical
analysis and reviews all analytical results prior to public release. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the
Company are forward-looking statements that involve various risks.
i-minerals inc. "The brightness results are
the best we have ever seen from the Helmer-Bovill property.
per: "Roger Kauffman"

Roger Kauffman,
President & CEO

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

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"

Prince Mineral Company, Inc. "We are pleased
with the strong support the Company and its project have received from the
local community and we believe that based upon successfully completing the
feasibility study, locating a production facility in the Bovill area will
be beneficial for the immediate area .

per: "Roger Kauffman"

Roger Kauffman,

President & CEO

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release .

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palladiumequity.com

i-minerals inc.

swala carbonate

is a portfolio company of
Palladium Equity Partners II, LP.
Collectively, the Palladium management team has over 60 years of private
equity experience and 35 years in the U. Shortly after the
completion of this work, MRL will begin processing the 40-ton bulk sample
delivered towards the end of 2005.

This News Release includes certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of
1995.

The chemical and mineralogical analyses show the residual clay crude to be
primarily composed of quartz with halloysite and kaolinite clays, muscovite
and microline.

The report titled "Kaolinite/Halloysite Clay Evaluation" by Michael Ginn, a
recognized expert in kaolin clay research and development, noted:
"Processing [the primary kaolin samples] is consistent with processing
other primary clay deposits and technically proves the feasibility.

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We look forward to continuing to work with Prince to facilitate
future growth and expansion of its business. is a leading producer of specialty mineral
products with a particular focus on naturally occurring minerals used
primarily in pigment applications.

American Minerals, Inc.princemfg. The study will be funded jointly by the
USDA and i-minerals essentially on a 50/50 basis and will begin
immediately .6573
Fax: 604. Classification to 90% +lt; 2
microns yields a product that is primarily kaolinite with minor halloysite
and quartz. Actual
results could differ materially from those projected as a result of the
following factors, among others: changes in the world wide price of mineral
market conditions, risks inherent in mineral exploration, risk associated
with development, construction and mining operations, the uncertainty of
future profitability and uncertainty of access to additional capital.

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AMI was formerly owned by a subsidiary of
Imerys SA, a global mineral mining and processing company based in Paris,
France. Any production
of these products could have a pronounced impact on future cash flows. The area of the Kelly's Basin deposit that is the subject of the
resource calculation was identified as a high purity, open pit resource
sufficient for a minimum of 15 years of production.

Brightness results for the primary clay products were outstanding.

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"
Marcos A.
AMI has a strong franchise in its core markets and an excellent group of
employees.

A resource calculation for the Kelly's Basin feldspar -- quartz deposit is
almost complete. the
products generated from the composite sample have excellent brightness and
color indices.

xinyi magnesia

i-minerals inc. Actual
results could differ materially from those projected as a result of the
following factors, among others: changes in the world wide price of mineral
market conditions, risks inherent in mineral exploration, risk associated
with development, construction and mining operations, the uncertainty of
future profitability and uncertainty of access to additional capital. Chemical and mineralogical characterization included XRF,
XRD, SEM and Cation Exchange Capacity (CEC). Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the
Company are forward-looking statements that involve various risks .