SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                     PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
                       THE SECURITIES EXCHANGE ACT OF 1934


                          For the month of AUGUST , 2003.
                                          --------  ----

                              IMA EXPLORATION INC.
                   -------------------------------------------
                 (Translation of registrant's name into English)

  #709 - 837 West Hastings Street, Vancouver, British Columbia, V6C 3N6, Canada
--------------------------------------------------------------------------------
                    (Address of principal executive offices)


Indicate by check mark whether the registrant  files or will file annual reports
under cover of Form 20-F or Form 40-F:

                        Form 20-F    X      Form 40-F
                                 ---------              ---------

Indicate by check mark if the  registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _______

Note:  Regulation  S-T Rule  101(b)(1) only permits the submission in paper of a
Form 6-K if submitted  solely to provide an attached  annual  report to security
holders.

Indicate by check mark if the  registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _______

Note:  Regulation  S-T Rule  101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other  document that the registrant
foreign  private  issuer  must  furnish  and make  public  under the laws of the
jurisdiction  in which the  registrant  is  incorporated,  domiciled  or legally
organized  (the  registrant's  "home  country"),  or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press  release,  is not required to be and has
not been distributed to the registrant's  security holders, and, if discussing a
material  event,  has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.





Indicate by check mark whether by furnishing the  information  contained in this
Form,  the  registrant  is  also  thereby  furnishing  the  information  to  the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                    Yes               No     X
                         ---------       ----------

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3- 2(b): 82-_____________


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf of the
undersigned, thereunto duly authorized.

                                           IMA Exploration Inc.
                                           (Registrant)

Date   August 27, 2003                     By  /s/ William Lee
     ------------------------------        -------------------------------------
                                           (Signature)



William Lee, Director and Chief Financial Officer
---------------------------------------------------------------------
1 Print the name and title of the signing officer under his signature.




                              IMA EXPLORATION INC.

                      Suite 709 - 837 West Hastings Street,
                            Terminal City Club Tower,
                             Vancouver, B.C. V6C 3N6
           Tel: 604-687-1828 Fax: 604-687-1858 Toll Free: 800-901-0058
        Internet: www.imaexploration.com E-mail: info@imaexploration.com

               TSX Venture Exchange: IMR OTC Bulletin Board: IMXPF
                 Frankfurt & Berlin Exchanges: IMT (WKN 884971)

--------------------------------------------------------------------------------

NEWS RELEASE                                                     AUGUST 27, 2003

                              STOCK OPTIONS GRANTED

IMA  Exploration  Inc.  would like to  announce  that the Company  has,  granted
incentive  stock  options to purchase up to an  aggregate  of  1,315,000  common
shares in the capital stock of IMA Exploration Inc., exercisable for a period of
five  years,  at a price of $1.87 per  shares.  These  options  are subject to a
four-month hold period.

IMA  Exploration  Inc. has a strong treasury in excess of $4,000,000 to fund its
exploration objectives. The Company focuses on quality exploration work designed
to define  economic gold and silver  deposits in Argentina and Peru. IMA has put
together  an  enviable  property  portfolio   including  over  37  well-located,
high-potential  projects  and  is  continuing  to add to  this  package  through
grass-roots exploration and staking.

ON BEHALF OF THE BOARD

/s/ William Lee
----------------------
Mr. William Lee, CFO

For further  information please contact Joseph Grosso,  President & CEO, or Sean
Hurd,  Investor  Relations  Manager,  at 1-800-901-0058 or 604-687-1828,  or fax
604-687-1858,  or by email  info@imaexploration.com,  or visit the Company's web
site at http://www.imaexploration.com.

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

                                                                  2003 Number 23