EARLY WARNING REPORT
1. Name and address of Offeror
The Rule Family Trust UAD 12/17/98
7770 El Camino Real
Carlsbad, CA 92009
2. Name of Issuer
IMA Exploration Inc.
3. Designation, number (or principal amount) and percentage of securities acquired
(ownership of or control over) by Offeror
The Offeror acquired ownership of or control over 1,000,000 common shares of the Issuer
(representing 1.91% of the Issuer’s outstanding common shares).
4. Designation, number (or principal amount) and percentage of securities in respect of which
the Offeror has ownership of and control over immediately after the acquisition
Upon completion of the acquisition, the Offeror has ownership of or control over 10,094,100
common shares (representing 19.36% of the Issuer’s outstanding common shares).
5. Designation, number (or principal amount) and percentage of securities over which the
Offeror, together with any joint actors, has
(i) ownership of and control over:
The Offeror and any joint actors have both ownership of and control over 10,094,100 common
shares (representing 19.36% of the Issuer’s outstanding common shares).
(ii) ownership of but control over is held by other persons or companies other than the
Offeror or any joint actors:
The Offeror and any joint actors do not have ownership of any common shares or securities
convertible into or exercisable to purchase common shares over which control is exercised by
persons or companies other than the Offeror or any joint actors.
(iii) exclusive or shared control over but does not have ownership of:
The Offeror and any joint actors do not have exclusive or shared control over any common shares
or securities convertible into or exercisable to purchase common shares owned by persons or
companies other than the Offeror or any joint actors.
6. Name of the market in which the acquisition took place
TSX Venture Exchange.
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