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IMAGE RESOURCES NL Capital/Financing Update 2004

Sep 30, 2004

65117_rns_2004-09-30_9a76364f-bcae-4da2-8cb4-f626c36edcaa.pdf

Capital/Financing Update

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IMAGE RESOURCES NL

ASX Release 1 October 2004

ASX code: IMA

NICKEL RC DRILLING STARTS AT LAKE PERCY AND FORRESTANIA PACKAGE INCREASES TO 3500SQ KM

2nd Floor, 35 Outram St West Perth WA 6005 PO Box 644 West Perth WA 6872 Telephone 08 9485 2410 Facsimile 08 9485 2840 [email protected] www.imageres.com.au

ABN 57 063 977 579

LAKE PERCY MAGNETICS

Image has previously announced on 23 June 2004 a new concept of identifying ultramafic belts prospective for nickel underlying thin sheets of granite. Further interpretation has now identified a large block west of Forrestania (map attached). The land holding has now increased from 1448sq km to 3500sq km.

For more information on the company visit www.imageres.com.au

Image Resources is pleased to announce that a 10 deep-hole RC program has begun at its Lake Percy Western Areas nickel project Joint Venture to follow up 2 hits at 0.7% Ni and 2m at 0.6% Ni. which includes 1m at 0.9% Ni (map attached).

FORRESTANIA - RAVENSTHORPE

Please direct enquiries to: Roger Thomson Managing Director Phone (08) 9485 2410 Mob 0419 969 183

George Sakalidis Executive Director - Exploration Phone (08) 9485 2410 Mob 0411 640 337

The information on mineralisation contained in this report accurately reflects the information compiled by Mr Roger Thomson BSc, MAusIMM, who is a competent person (as defined by the Australasian Code of Reporting of Identified Mineral Resources and Ore Reserves) with relevant experience in relation to such mineralisation.