Sounds like you made a bad decision to use a strongly not recommended referenced library
With iPhoto you can reference your original photos rather than copy them to the iPhoto library - but it has many problems and is strongly NOT recommended
Simply go to the iPhoto preferences and uncheck the default preference to "copy imported items to the iPhoto library" - now iPhoto will link to your external photos rather than copying them
HOWEVER
iPhoto is very poor at fixing these links if the path changes so replacing failed hardware and upgrading hardware can be very difficult
Importing becomes a two step process - once into your file structure and a second time to iphoto
Deleting becomes a two step process - once in iphoto and then in your file structure
And if you make any modifications in iPhoto ( including having the auto rotate flag set by the camera) a modified version will be created in the iphoto library and this will not be reflected in your file structure
see also iPhoto and File Management
If you have a referenced library then you must always leave the source photos exactly where they were when you import them to iPhoto - for your problem you need to put them back where they were - hopefully you have a backup of them
LN