IMAGE RESOURCES NL — Capital/Financing Update 2013

Mar 13, 2013

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2[nd] Floor, 16 Ord Street 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 Code: IMA 14 March 2013

ANOTHER MAJOR MILESTONE FOR IMAGE AS MINING LEASE OVER THE KEY NORTHERN SECTION OF BOONANARRING IS GRANTED

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• Image delivers another key milestone on schedule.

• Mining Lease M70/1131 covering the northern 7.7 km of the Boonanarring project was granted on 12 March 2013 with a life of 21 years.

• In conjunction with Mining Lease ML/1194 (purchased by Image in March 2011) 10.1 km of the full 12 km strike length at Boonanarring is now secured by granted Mining Leases (refer Figure 1).

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Image Resources Managing Director, Peter Davies, said “This has been a good news week for Image. Grant of the Mining Lease on schedule, coupled with the outstanding new resource figures for Block B released on 8 March, continue to demonstrate that our confidence in Boonanarring as Image’s first minerals sands producing operation is well founded.

“The next milestone, due in early April, will be the maiden JORC Resource for the northern Block A, together with the initial economic results for the project.”

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

Please direct enquiries to:

Peter Davies George Sakalidis Managing Director Executive Exploration Director Phone +61 8 9485 2410 Phone +61 8 9485 2410 Mob +61 409 296 676 Mob +61 411 640 337

ASX Release 14 March 2013

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Figure 1 Mining Lease Boundaries March 2013

ASX Release 14 March 2013

COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS

The information in this presentation is based on information compiled by Paul Leandri BAppSc who is a member of the Australasian Institute of Mining and Metallurgy. Paul Leandri is an employee of Image Resources NL. He has sufficient experience which is relevant to the style of mineralisation 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 for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Paul Leandri consents to the inclusion of this information in the form and context in which it appears in this presentation.

COMPETENT PERSON’S STATEMENT – RESOURCE ESTIMATES

The information in this presentation that relates to mineral resources is based on information compiled by Lynn Widenbar BSc, MSc, DIC MAusIMM MAIG employed by Widenbar & Associates who is a consultant to the Company. Lynn Widenbar has sufficient experience which is relevant to the style of mineralisation 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’. Lynn Widenbar consents to the inclusion of this information in the form and context in which it appears in this presentation.

COMPETENT PERSON’S STATEMENT – PROJECT EVALUATION

The information in this presentation that relates to project evaluation is based on information compiled by Peter Davies BSc Eng (Hons) ARSM, C.Eng. MIMMM, FAusIMM FRSA, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Peter Davies is Managing Director/Project Manager of Image Resources NL. Peter Davies has sufficient experience which is relevant to the style of mineralisation 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 for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Davies consents to the inclusion of this information in the form and context in which it appears in this report.

FORWARD LOOKING STATEMENTS

Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the mining industry, expectations regarding prices, exploration or development costs and other operating results, growth prospects and the outlook of Image’s operations contain or comprise certain forward looking statements regarding Image’s operations, economic performance and financial condition. Although Image believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.

Accordingly, results could differ materially from those set out in the forward looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes that could result from future acquisitions of new exploration properties, the risks and hazards inherent in the mining business (including industrial accidents, environmental hazards or geologically related conditions), changes in the regulatory environment and other government actions, risks inherent in the ownership, exploration and operation of or investment in mining properties, fluctuations in prices and exchange rates and business and operations risks management, as well as generally those additional factors set forth in our periodic filings with ASX. Image undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events.