Filed by Avantafile.com - I-Minerals Inc. - Exhibit 10.26





THIS FOURTH AMENDING AGREEMENT is made as of July 8, 2020.


AMONG:


I-Minerals Inc., a body corporate, continued under the laws of


Canada, having its head office at Suite 880 — 580 Hornby Street, Vancouver, British Columbia, Canada V6C
3B6


(hereinafter called the "Company")


OF THE FIRST PART






AND:






i-minerals USA Inc., an Idaho limited liability company, having an
office c/o the Company, at Suite 880 — 580 Hornby Street, Vancouver, British Columbia, Canada V6C 3B6


(hereinafter called the "Subsidiary")


OF THE SECOND PART


AND:


BV Lending, LLC, an Idaho limited liability company, having its
head office at Suite 201 — 901 Pier View Drive, Idaho Falls, Idaho, U.S.A. 83402


(hereinafter called "BV")


OF THE THIRD PART






WHEREAS:






	A. 	              Pursuant to an agreement among the parties dated October 25, 2019, as
amended by amending agreements dated November 25, 2019 (the “First Amending Agreement”), January 20, 2020 (the “Second
Amending Agreement”), and June 4, 2020 (the "Third Amending Agreement"), with the agreement dated October 25, 2019, as
amended by the First Amending Agreement, Second Amending Agreement, and Third Amending Agreement hereinafter
collectively called the “Loan Agreement”, B.V. agreed to advance certain funds to the Company to advance its Bovill
Kaolin Project located in the State of Idaho, U.S.A.;





 


	B. 	               As BV has agreed to provide additional funding to the Company, the
parties wish to amend certain of the provisions of the Loan Agreement on the terms and conditions hereinafter set
forth;





 


	C. 	       The Subsidiary is a wholly-owned subsidiary of the Company and is the legal
owner of the Helmer Bovill Property hosting the Bovill Kaolin Project in the State of Idaho, U.S.A., as referred to in
Recital A. herein;





 


NOW THEREFORE THIS FOURTH
AMENDING AGREEMENT WITNESSETH that in consideration of these presents and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged by each of the parties, the parties hereby agree as follows:


 


	1. 	             The parties agree that the Loan
Agreement is hereby amended as follows.





 







	 	(a) 	       The reference to “up to an additional $1,300,000 in cash to the Company in
three separate tranches” in paragraph 2.01 of the Loan Agreement is replaced with “up to an additional $2,500,000 in
cash to the Company in separate tranches”;





 


	 	(b) 	       A new section 2.08(f) is hereby added to the Loan Agreement, to read as
follows:





 


	 	"(f) 	 With respect to the Ninth Advance, Tenth Advance, Eleventh Advance, and Twelfth
Advance as set forth on Schedule A, the Company shall have completed its Operations and Reclamation Plan for the Bovill
Kaolin Project and such plan shall have been approved by the Idaho Department of Lands."





 


	 	(d) 	       Schedule A to the Loan Agreement is amended to read as follows:





 


           
                                 
                                 
        SCHEDULE A


	
        2019

	
         
	
         
	
         
	
         
	
         
	
        October

        (First Advance)
	
        November

        (Second Advance
	
        December

        Third Advance)
	
         

	
         
	
         
	
         
	
         
	
         
	
        $250,000
	
        $250,000
	
        $200,000
	
         

	
         

        2020

	
         
	
         
	
        February

        (Fourth Advance)
	
        March

        (Fifth Advance)
	
        April

        (Sixth Advance)
	
        July

        (Seventh Advance)
	
        August

        (Eighth Advance)
	
        September

        (Ninth Advance)
	
         

	
         
	
         
	
        up to $200,000
	
        up to $200,000
	
        up to $200,000
	
        up to $150,000
	
        up to $200,000
	
        up to $200,000
	
         

	
         
	
         
	
         
	
         
	
         
	
         
	
         
	
         
	
         

	
         
	
         
	
        October

        (Tenth Advance)
	
        November

        (Eleventh Advance)
	
        December

        (Twelfth Advance)
	
         
	
         
	
         
	
         

	
         
	
         
	
        up to $200,000
	
        up to $200,000
	
        up to $250,000
	
         
	
         
	
         
	
         






 


	2. 	        Except as amended by this Fourth Amending Agreement, all of the other terms
and conditions of the Loan Agreement remain in full force and effect.





 


	3. 	        Each of the parties agrees to do and/or execute all such further and other
acts, deeds, things, devices, documents and assurances and may be required in order to carry out the true intent and
meaning of this Fourth Amending Agreement.





 


	4. 	        This Fourth Amending Agreement and any certificate or other writing
delivered in  connection herewith may be executed in any number of counterparts and any party hereto may execute any
counterpart, each of which when executed and delivered will be deemed to be an original and all of which counterparts of
this Fourth Amending Agreement or such other writing, as the case may be, taken together, will be deemed to be one and
the same instrument. The execution of this Fourth Amending Agreement or any other writing by any party hereto will not
become effective until each party hereto has executed a counterpart of this Fourth Amending Agreement or any other
writing, as the case may be.





 







	5. 	        Each of the parties hereto will be entitled to rely upon delivery by
facsimile or by email of executed copies of this Fourth Amending Agreement and any certificates or other writings
delivered in connection herewith, and such facsimile or emailed copies will be legally effective to create a valid and
binding agreement among the parties in accordance with the terms and conditions of this Fourth Amending Agreement.





 


	2. 	                 This Fourth Amending Agreement shall enure to the benefit of and
be binding upon the parties hereto and each of their successors and permitted assigns, as the case may be.





 


IN WITNESS WHEREOF the parties have executed and delivered this Fourth Amending Agreement as of the day
and year first above written.







 


	
         

        Executed by

        I-Minerals Inc.

        in the
presence of:
	
         
	
         

	

        Signed   “Barry Girling”                 
                          

        Authorized   Signatory

         
	
         
	
         

	
         

        Executed by

        i-minerals USA Inc.

        in the
presence of:
	
         
	
         

	

        Signed   “Barry Girling”                 
                

        Authorized   Signatory

         
	
         
	
         






 


	
        Executed by

        BV
Lending, LLC

         

        By:       Ball Ventures, LLC, an Idaho
limited           liability company,   the Member

         

        By: 
BV Management Services, Inc., an Idaho

        Corporation,   the Manager

         

         

                    Per:     
Signed “ Cortney Liddiard

                               
Cortney Liddiard, President