IMAGE RESOURCES NL — Capital/Financing Update 2010

Nov 15, 2010

Level 2, 16 Ord 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

ASX RELEASE ‐ ASX Code “IMA”

16 November 2010

Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000

708A Cleansing Statement Issue of Shares under Placement

On 16 November 2010 Image Resources NL (the Company ) issued 3,125,000 fully paid Ordinary Shares as a private placement at $0.40 each ( Placement Shares ), raising gross proceeds of $1.25 million as announced on 9 November 2010.

In accordance with the requirements of section 708A(5)(e) of the Corporations Act 2007 (the Act ), the Company confirms that:

1. The Placement Shares are part of the class of ordinary shares quoted on the ASX;

2. The Company issued the Placement Shares without disclosure to investors under Part 6D.2 of the Act, in reliance on section 708 and that notification is being given under 708A(5)(e) of the Act;

3. As at the date of this notice:

   • a) The Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

   • b) The Company has complied with section 674 of the Act; and

4. As at the date of this notice, there is no information:

   • a) That has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • b) That investors and their professional advisers would reasonably require, and would reasonably expect to find in a disclosure document, for the purposes of making an informed assessment of:

     • i. The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

     • ii. The rights and liabilities attaching to the Placement Shares.

The Appendix 3B in relation to quotation of the Placement Shares is attached.

Yours faithfully

Rudolf Tieleman Company Secretary