IMAGE RESOURCES NL — Capital/Financing Update 2006

Nov 13, 2006

ASX Release 14 November 2006 ASX code: IMA

2^nd Floor, 35 Outram St West Perth WA 6005 PO Box 644 West Perth WA 6872 Telephone 08 9485 2410 Facsimile 08 9485 2840 info@imageres.com.au www.imageres.com.au

ABN 57.063.977.579

IMAGE FARMS OUT TO FOCUS ON MINERAL SANDS

Image Resources has reached agreement with Meteoric Resources to farm out three 100%-owned gold projects at Scorpion Well. Top Well and Mt Remarkable, WA. Image has carried out preliminary exploration at Scorpion Well, 10km southeast of the 2M oz Centenary gold mine and confirmed the presence of host rocks favourable for Centenarystyle gold mineralisation within a structural corridor passing through the Darlot and Centenary mines.

At Top Well, 85km west of Leonora, and at Mt Remarkable, 80km southwest of Laverton, Image has interpreted aeromagnetic and gravity data to identify potential greenstone sequences below cover and considered to be prospective for gold.

Under the terms of the proposed joint venture Meteoric may earn a 30% interest in 244sq km of granted tenements by expenditure of \$300,000 within two years. Meteoric may then elect to earn a further 21% interest by expenditure of \$200,000 within an additional two Meteoric may make a further election to earn an additional 19% interest by vears. expenditure of another \$200,000 within a further two years ie up to a 70% interest by expenditure of \$700,000 within six years.

This new joint venture with Meteoric Resources will allow Image to continue to focus on its core mineral sand projects, to which end Image is discussing potential joint ventures with third parties on other non-core projects.

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

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 in this report that relates to exploration results is based on information compiled by Roger Thomson BSc, ARSM, MAusiMM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is an employee of Image Resources NL. Roger Thomson has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Roger Thomson consents to the inclusion of this information in the form and context in which it appears in this report.