VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 08/10/06 -- IMA Exploration Inc. (TSX VENTURE: IMR)(AMEX: IMR)(FWB: IMT) (WKN 884971) wishes to announce that it has retained Leonard T. Doust, Q.C. of McCarthy Tetrault LLP, to lead the Company's legal team in its appeal of the recent Supreme Court of British Columbia decision concerning its ownership of Navidad. Mr. Doust has nearly 40 years of experience in a wide variety of litigation, and is one of the most the most sought-after and respected litigators in the country. He has appeared frequently before every level of court in British Columbia, as well as in the Supreme Court of Canada. On several occasions, Mr. Doust has acted as a Special Prosecutor for the government of British Columbia, and as counsel to judges of British Columbia's courts. Mr. Doust is a Life Bencher of the Law Society of British Columbia and a Fellow of the American College of Trial Lawyers.

Joining our legal team is Mr. David Wingfield of Weir Foulds LLP (Toronto) who has been involved as counsel in numerous high profile and significant cases and specializes in complex litigation. IMA welcomes the addition of Mr. Wingfield with his considerable litigation skills and expertise.

Under Mr. Doust's leadership, IMA's legal appeal team has been working and will continue to work diligently towards a successful appeal of Madam Justice Koeningsberg's judgment at trial and is now formulating the grounds of appeal and the filings necessary for an early prosecution of the appeal.

Based on the intensive work completed to date, IMA's legal advisors are optimistic as to the prospects of the Company's success on the appeal.

Joseph Grosso, President and Chief Executive Officer of the Company stated:

"I wish to thank our shareholders for their belief in and support for IMA over the last two years in relation to the Navidad Project. I hope that the vision and support continues during these very challenging times. I am confident that IMA will win on appeal to confirm our ownership interest in Navidad. I extend, on behalf of our Company and shareholders, our sincere gratitude and thanks to our Argentinean management and employees. Their efforts that have been a crucial element in our 13 years of continuous operations in their country. We appreciate the community support that we continue to receive while they also endure these very trying times imposed upon them."

ON BEHALF OF THE BOARD

Mr. Joseph Grosso, President & CEO

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

2006

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

Contacts:
IMA Exploration Inc.
Joseph Grosso
President & CEO
1-800-901-0058 or (604) 687-1828

IMA Exploration Inc.
Sean Hurd
Vice President, Investor Relations
1-800-901-0058 or (604) 687-1828
(604) 687-1858 (FAX)
info@imaexploration.com
www.imaexploration.com