IMAGE RESOURCES NL — Capital/Financing Update 2022

Mar 13, 2022

14 March 2022

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STRATEGIC ACQUISITION OF 84 MILLION TONNES TOTAL HEAVY MINERALS McCALLS MINERAL SANDS PROJECT

Highlights:

• Completion of Sale and purchase agreement to acquire McCalls Mineral Sands Project located 100km north of Perth, Western Australia for A$12 million cash from Sheffield Resources Limited

• McCalls Project consists of four (4) exploration licences (ELs) across two project areas containing 5.8 billion tonnes of Mineral Resources at 1.4% total heavy minerals (THM) for 84 million tonnes of contained THM and 75 million tonnes of contained valuable heavy minerals (VHM)

• Mineral assemblage includes 7.1% zircon plus rutile and 82% ilmenite plus leucoxene averaging 63% TiO2, likely saleable as chloride grade ilmenite and potentially synthetic rutile feedstock

• Mineralisation from surface in some areas with low overall strip ratio and potentially amenable to lower cost hydraulic mining

• Acquisition funded out of existing cash reserves

• Strategic acquisition provides massive Mineral Resources base for potential future multi-decade production opportunities at high economy of scale and consideration for value-add production of synthetic rutile with decades of consistent feedstock sourcing.

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Image Resources NL (ASX: IMA) (“Image” or “the Company”) is pleased to advise it has finalised a binding sale and purchase agreement with Sheffield Resources Ltd (“Sheffield”) to acquire the McCalls Mineral Sands Project (“McCalls”) located 100km north of Perth in Western Australia (Figure 1).

McCalls contains Mineral Resources (JORC 2012) estimated at 5.8 billion tonnes at 1.4% total heavy minerals (“THM”) for 84 million tonnes contained THM , and 75 million tonnes of contained valuable heavy minerals (“VHM”) with Mineral Resources in the JORC Code 2012 Indicated and Inferred categories (see Table 1 annexed to this announcement) . Total consideration for the acquisition was A$12 million in cash, paid out of Image’s existing cash reserves (~A$80 million as at 31 December 2021).

McCalls consists of four exploration licences (“ELs”) covering two project areas (McCalls and Mindarra Springs) as presented in Figure 2.

Managing Director and CEO Patrick Mutz commented, “Image is excited to add such a massive mineral sands deposit to our portfolio of ‘opportunities’, especially as McCalls is literally in our back yard at Boonanarring. While the overall grade is low, this can be managed with an appropriate economy-of-scale coupled with lower cost mining and processing methods. Importantly, while a number of other massive mineral sands deposits are challenged with finer grain minerals, lower grade TiO2 minerals, and higher uranium and thorium, McCalls contains medium grain minerals, has high quality TiO2 and low uranium and thorium. Image will now have the luxury of focusing on identifying potentially one or two 500Mt subsets within the

Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Ave West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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5.8 billion tonne Mineral Resources, at higher HM grade and lowest strip ratio to move to feasibility study. This can be done while we continue operating on our other smaller, but highergrade projects. Additional advantages with the acquisition of McCalls include the opportunity to evaluate the potential for full mineral separation and the possibility of establishing a new synthetic rutile production facility using cutting-edge robotic technology and green hydrogen.”

Figure 1 – Sheffield Resources’ location map for McCalls Mineral Sands Project

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Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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Figure 2 – Sheffield Resources’ location map for McCalls Project ELs

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(Figures 1 & 2 provided with permission of Sheffield Resources Ltd)

Strategic Acquisition and Plans

Mineralisation at McCalls is accessible by dry mining methods and amenable to typical heavy mineral recovery processing technology such as the wet concentration plant

Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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currently used at Image’s Boonanarring project . However, given the reasonable level of slimes content, an evaluation will be conducted to determine if lower cost hydraulic mining and reflux classifier processing can be used to minimise overall operating costs at a substantially higher processing rate.

The acquisition of McCalls, which contains estimated Mineral Resources of 5.8 billion tonnes at 1.4% THM for 84 million tonnes of contained THM (Table 1 annexed to this announcement), represents a 20-fold increase in overall tonnes of total Mineral Resources accessible by dry mining, and more than a 700% increase in total tonnes of contained THM, when compared to the Company’s current Mineral Resources estimate (including the recently acquired Eneabba Tenements) of 284 million tonnes at 3.8% THM for 10.9 million tonnes of contained THM accessible by dry mining (Table 2 annexed to this announcement).

The additional Mineral Resources associated with the acquisition of McCalls represents a major positive shift in potential opportunities to identify areas for feasibility studies to facilitate the conversion of Mineral Resources to Ore Reserves, which if/when achieved, could be the catalyst for a re-rating of the value of the Company. These opportunities could include economy-of-scale advantages with ore processing rates of up to 3,000 tonnes per hour in potential future dry or hydraulic mining operations that could span multiple decades.

Acquisition of the McCalls Project does not change Image’s current development plans for its 100%-owned Atlas deposit, which is slated for production following the cessation of production at Boonanarring, likely in Q1 2023. Similarly, the feasibility study (“FS”) being conducted on Image’s 100%-owned Bidaminna project is continuing in anticipation of commencement of project development planning following positive FS results, as a standalone project operated in parallel with Atlas.

Initial plans for McCalls will be a reassessment of the Mineral Resources estimate by Image’s JORC Competent Person and securing exploration access for the conduct of advanced ground magnetics and associated scout drilling for the potential development of a geophysical model to predict higher grade regions within the greater Mineral Resources area . Such plans will be lower priority to current project development plans.

This document is authorised for release to the market by the Managing Director.

Patrick Mutz Managing Director +61 8 9485 2410 info@imageres.com.au www.imageres.com.au

Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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Image Resources Background Information

Image is an established, profitable mineral sands mining company, operating open-cut mining and ore processing facilities at its 100%-owned, high-grade, zircon-rich Boonanarring Mineral Sands Project located 80km north of Perth, Western Australia, in the North Perth Basin. Boonanarring is arguably one of the highest-grade, zircon-rich, mineral sands projects in Australia.

The project was constructed and commissioned on-time and on-budget in 2018. Production of HMC commenced December 2018 and ramped-up to exceed name-plate capacity in only the second month of operation (January 2019).

The Company repaid its outstanding debt ahead of schedule in February 2021 and paid an inaugural dividend of $0.02 per share in April 2021, after only two years as an active mining company (CY2019 and CY2020), and is on-track to meet its market guidance for CY2021 which is similar to CY2020.

Since February 2021 Image is focused on a multi-pronged growth strategy which includes (1) maintaining its strong economic performance at Boonanarring and continuing at its 100%-owned Atlas, Helene and Hyperion projects; (2) progressing a feasibility study at its 100%-owned Bidaminna project in support of development of a second mining and processing centre to be operated in parallel with operations at Atlas; (3) evaluating the economic potential of its two 100%-owned gold tenements and King Farmin tenement, all located SE of Kalgoorlie; and (4) investigate opportunities outside of the Company’s current mineral sands portfolio to identify a larger potential mine-life deposit for development.

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.

McCalls Project Acquisition

Images Resources NL acquired the McCalls Project as of 11 March 2022 from Sheffield Resources Ltd. Although Image has reviewed reports, information and data in relation to McCalls (which comprises the McCalls Project Mineral Resources at McCalls and Mindarra Springs) and has no reason to question the reliability of the reported information, Image cannot confirm whether there is any new information or data that materially affects the information included in the relevant Sheffield market announcements, nor can it confirm, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Image cannot confirm that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the relevant original market announcements. The Company will directly commission a Competent Person to provide JORC and ASX compliance statements when these Mineral Resources are included in future public reports.

Image Resources NL | ABN 57 063 977 579 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872

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Table 1.

Sheffield Resources Ltd – Mineral Resources for McCalls Project as at 01 October 2018

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SHEFFIELD MINERAL RESOURCES FOR McCALLS PROJECT AT 01 OCTOBER 2018 (in-situ tonnes)

Summary of Mineral Resources1,2,3,4,7 In-situ Tonnes

Summary of M	ineral Resourc	es1,2,3,4,7		In-situ Tonnes
Deposit McCalls	Mineral Resource Category Indicated Inferred	Cut off (THM%) 1.1 1.1	THM Tonnes Millions (Mt)	Zircon (kt) Rutile (kt) Leuco- xene (kt) 1,210 770 650 1,210 930 790	Ilmenite (kt) 17,940 19,790	Total VHM (kt) 20,570 22,720
			23.3 24.4
	Total	1.1	47.7	2,430 1,700 1,430	37,730	43,290
Mindarra Springs	Inferred	1.1 1.1 1.1 1.1	36.3	1,520 320 1,130	29,080	32,050
	Total		36.3	1,520 320 1,130	29,080	32,050
Total	Indicated Inferred		23.3 60.7	1,210 770 650 2,740 1,250 1,920	17,940 48,860	20,570 54,770
	Total	1.1	84.0	3,950 2,020 2,570	66,810	75,340

1The Mineral Resource estimates were prepared by Optiro Pty Ltd and first disclosed under the JORC Code (2012) refer to this ASX announcement 2All tonnages and grades have been rounded to reflect the relative uncertainty of the estimate, thus the sums of columns may not equal. 3THM is within the 45µm to 1mm size fraction and reported as a percentage of the total material, slimes is the -45µm fraction and oversize is the +1mm fraction. 4Reported below an upper cut-off grade of 35% slimes. 5Estimates of mineral assemblage (Sheffield) are presented as percentages of the total heavy mineral (THM) component of the deposit, as determined by QEMSCAN analysis. For the TiO2 minerals specific breakpoints are used to distinguish between rutile (>95% TiO2), leucoxene (85-95% TiO2) and ilmenite (<55-85% TiO2). Estimates of mineral assemblage (BHP) HM assemblage determination was by magnetic separation and observation (grain-counting) 6The in-situ assemblage grade is determined by multiplying the percentage of HM by the percentage of each valuable heavy mineral within the heavy mineral assemblage at the resource block model scale.

7Excludes Mineral Resources within the Mogumber Nature Reserve.

Note 1: Information in this release that relates to McCalls Project Mineral Resource estimates were prepared by Optiro Pty Ltd and first disclosed by Sheffield under JORC Code (2012). For further details refer to Sheffield’s ASX announcements of

• 3 October 2018 “MINERAL RESOURCE AND ORE RESERVE STATTEMENT”; and

• 25 July 2016 “QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 30 JUNE 2016” for McCalls Mineral Resource.

Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au Page 6 of 8

Table 2.

Global Total Resource Summary for Image Mineral Resources prior to the purchase of the McCalls Project

	Deposit	Mineral Resource Category	Cut-off (total HM%)	Tonnes (million)	In-situ HM Tonnes (millions)	Total HM grade (%)	HM Assemblage (% of total HM)	HM Assemblage (% of total HM)	HM Assemblage (% of total HM)	HM Assemblage (% of total HM)	Slimes (%)	Oversize (%)
							Zircon	Rutile	Leuc.	Ilmenite
Dry Mining, JORC 2012	Boonanarring	Measured	2.0	3.9	0.3	7.2	18.1	2.9	2.8	48	12	4.5
		Indicated	2.0	5.4	0.3	4.8	12.3	4.6	9.8	49	17	4.8
		Inferred	2.0	0.9	0.0	3.3	11.5	4.4	5.5	53	15	6.4
		Sub Total	2.0	10.2	0.6	5.6	15.1	3.7	6.1	49	15	4.8
	Atlas	Measured	2.0	9.9	0.8	7.9	10.5	7.2	4.2	49	16	5.8
		Indicated	2.0	6.4	0.2	3.7	6.8	4.7	3.4	42	17	5.2
		Inferred	2.0	1.8	0.1	4.0	4.8	4.4	3.3	29	20	7.2
		Sub Total	2.0	18.1	1.1	6.0	9.3	6.4	4.0	46	17	5.7
	Boonanarring North West	Indicated	2.0	3.1	0.2	5.1	9.6	6.8	30	35	11	1.2
		Inferred	2.0	1.2	0.1	5.0	8.3	7.4	36	27	10	0.8
		Sub Total	2.0	4.3	0.2	5.1	9.2	6.9	32	33	11	1.1
	Boonanarring North Extension	Indicated	2.0	2.5	0.3	11.8	16.4	2.7	12	41	17	7.1
		Inferred	2.0	0.2	0.0	4.7	16.0	2.5	11	39	17	8.4
		Sub Total	2.0	2.7	0.3	11.2	16.4	2.7	11	41	17	7.2
	Gingin North	Indicated	2.0	6.6	0.3	4.7	7.2	4.5	15	50	16	4.5
		Inferred	2.0	2.0	0.1	4.7	5.5	5.4	23	41	13	5.3
		Sub Total	2.0	8.7	0.4	4.7	6.8	4.7	17	48	15	4.7
	Helene	Indicated	2.0	12.1	0.6	4.9	7.4	5.1	14	47	18	1.4
		Inferred	2.0	1.0	0.0	4.0	7.5	5.7	16	45	15	1.1
		Sub Total	2.0	13.1	0.6	4.8	7.4	5.2	14	47	18	1.4
	Hyperion	Indicated	2.0	3.6	0.3	8.3	8.0	6.7	8.1	36	19	2.6
		Inferred	2.0	0.0	0.0	5.9	7.3	5.0	4.9	31	17	4.3
		Sub Total	2.0	3.6	0.3	8.3	8.0	6.7	8.1	36	19	2.6
	Drummond Crossing	Indicated	1.4	35.5	0.8	2.4	14.1	10.3	3.4	53	14	7.7
		Inferred	1.4	3.3	0.1	2.3	11.2	9.0	2.7	56	12	7.2
		Sub Total	1.4	38.8	0.9	2.4	13.9	10.2	3.4	54	14	7.7
	Durack	Indicated	1.4	20.7	0.6	2.9	13.7	2.9	3.7	71	14	14.7
		Inferred	1.4	5.6	0.1	2.6	14.2	2.6	7.4	64	16	18.3
		Sub Total	1.4	26.3	0.7	2.8	13.8	2.9	4.4	70	14	15.5
	Ellengail	Indicated	2.0	6.5	0.3	5.3	10.0	8.0	10.4	66	15	3.2
		Inferred	2.0	5.3	0.2	4.1	9.9	8.2	8.4	62	15	2.5
		Sub Total	2.0	11.8	0.6	4.8	9.9	8.1	9.6	64	15	2.9
	Robbs Cross	Indicated	1.4	14.0	0.3	1.9	14.7	12.7	5.0	47	6	6.2
		Inferred	1.4	3.8	0.1	2.0	14.5	10.9	4.1	50	6	8.1
		Sub Total	1.4	17.8	0.3	1.9	14.7	12.3	4.8	48	6	6.6
	Thomson	Inferred	1.4	25.7	0.5	2.0	18.8	13.8	5.4	42	18	6.9
		Sub Total	1.4	25.7	0.5	2.0	18.8	13.8	5.4	42	18	6.9
	Yandanooka	Measured	1.4	2.6	0.1	4.3	10.3	2.1	2.3	72	15	11.3
		Indicated	1.4	57.7	1.7	3.0	12.3	3.6	3.7	69	15	11.4
		Inferred	1.4	0.4	0.0	1.5	10.9	3.0	4.4	68	20	21.9
		Sub Total	1.4	60.8	1.8	3.0	12.1	3.5	3.6	70	15	11.5
	Corridor	Inferred	2.0	18.1	0.6	3.1	6.7	5.5	0.4	47	14	4.8
		Sub Total	2.0	18.1	0.6	3.1	6.7	5.5	0.4	47	14	4.8
		Total Measured		16.4	1.2	7.1	12.3	5.7	3.7	51	15	6.4
		Total Indicated		174.1	5.9	3.4	11.6	5.6	7.3	57	15	8.5
		Total Inferred		69.4	1.9	2.8	11.5	8.1	6.2	48	15	6.9
		Grand Total		259.9	9.0	3.5	11.7	6.2	6.6	54	15	7.9
Dredge Mining, JORC 2012	Bidaminna	Indicated	0.5	17.4	0.6	3.2	5.0	5.1	30.2	53	4	1.4
		Inferred	0.5	84.1	1.7	2.0	5.1	4.2	38.3	47	3	2.4
		Sub Total	0.5	101.6	2.2	2.2	5.1	4.4	36.3	48	3	2.2
	Titan	Indicated	1.0	21.2	0.4	1.8	9.5	3.1	1.5	72	22	0.0
		Inferred	1.0	115.4	2.2	1.9	9.5	3.1	1.5	72	19	0.0
		Sub Total	1.0	136.6	2.6	1.9	9.5	3.1	1.5	72	19	0.0
	Telesto	Indicated	1.0	3.5	0.1	3.8	9.5	5.6	0.7	67	17	0.0
		Sub Total	1.0	3.5	0.1	3.8	9.5	5.6	0.7	67	17	0.0
	Calypso	Inferred	1.0	51.5	0.9	1.7	10.8	5.1	1.6	68	14	0.0
		Sub Total	1.0	51.5	0.9	1.7	10.8	5.1	1.6	68	14	0.0
		Total Indicated		42.1	1.1	2.5	7.2	4.4	16.3	61	14	0.6
		Total Inferred		251.0	4.7	1.9	8.2	3.8	14.5	62	13	0.8
		Grand Total		293.2	5.8	2.0	8.0	4.0	14.8	62	13	0.8
Dry Mining, JORC 2004	Gingin South	Measured	2.5	1.5	0.1	4.4	7.8	5.6	15.3	51	7	0.0
		Indicated	2.5	5.8	0.4	6.5	8.1	5.1	9.8	68	7	11.0
		Inferred	2.5	0.7	0.0	6.5	10.9	5.8	7.5	67	8	8.7
		Sub Total	2.5	8.1	0.5	6.1	8.3	5.2	10.3	65	7	8.7
	Regans Ford	Indicated	2.5	9.0	0.9	9.9	10.0	4.3	10.0	70	17	0.0
		Inferred	2.5	0.9	0.1	6.5	10.1	4.4	7.7	68	19	0.0
		Sub Total	2.5	9.9	1.0	9.6	10.0	4.3	9.8	70	17	0.0
	Red Gully	Indicated	2.5	3.4	0.3	7.8	12.4	3.1	8.3	66	12	0.0
		Inferred	2.5	2.6	0.2	7.5	12.4	3.1	8.3	66	11	0.0
		Sub Total	2.5	6.0	0.5	7.7	12.4	3.1	8.3	66	11	0.0
		Total Measured		1.5	0.1	4.4	7.8	5.6	15.3	51	7	0.0
		Total Indicated		18.2	1.5	8.4	10.0	4.3	9.7	69	13	3.5
		Total Inferred		4.2	0.3	7.1	11.5	3.8	8.0	67	12	1.5
		Grand Total		24.0	1.9	7.9	10.2	4.2	9.6	68	12	3.0
Total C	ombined Resources	Total Measured		18	1.2	6.9	12.0	5.7	4.3	51	14	5.9
		Total Indicated		234	8.5	3.6	10.8	5.2	8.9	60	14	6.7
		Total Inferred		325	7.0	2.1	9.2	5.0	11.9	59	13	2.1
		Grand Total		577	16.7	2.9	10.2	5.2	9.8	59	14	4.1

Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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COMPLIANCE STATEMENTS

The information in this report that relates to the Boonanarring, Boonanarring North West, Boonanarring North Extension, Hyperion, Helene, Gingin North, Atlas, Drummond Crossing, Durack, Ellengail, Robbs Cross, Thomson, Yandanooka and Corridor Mineral Resource estimates is based on and fairly represents, information which has been prepared by Mrs Christine Standing, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and the Australian Institute of Geoscientists (AIG). Mrs Standing is a full-time employee of Optiro Pty Ltd (Snowden Optiro) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

The information in this report that relates to the Titan, Telesto and Calypso Mineral Resource estimates is based on and fairly represents, information which has been prepared by Mr 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 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

The information in this report that relates to the Gingin South and Red Gully Mineral Resource estimates (not part of the Company’s material mining projects) is based on and fairly represents, information which has been prepared by Mr 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 for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

The information in this table that relates to tonnes, grades and mineral assemblage for Regans Ford Deposit (not part of the Company’s material mining projects) is based on historic information published by Iluka Resources Limited and indicating the Mineral Resources were compiled in accordance with the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

This report includes information that relates to Ore Reserves and Mineral Resources which were prepared and first disclosed under JORC Code 2012. The information was extracted from the Company’s previous ASX announcements as follows:

• Boonanarring Mineral Resources and Ore Reserves: 11 March 2022 – “Boonanarring Ore Reserves Update”.

• Bidaminna Mineral Resource: 31 March 2021 – “102 Million Tonnes Inaugural Dredge Mining Mineral Resource Estimate for Bidaminna Mineral Sands Project”

• Gingin North Mineral Resource: 31 March 2021 – “Project MORE Update Boonanarring Atlas Projects”

• Boonanarring North Extension Mineral Resource: 31 March 2021 – “Project MORE Update Boonanarring Atlas Projects”

• Boonanarring North West Mineral Resource: 31 March 2021 – “Project MORE Update Boonanarring Atlas Projects”

• • Helene Mineral Resources: 31 March 2021 – “Project MORE Update Boonanarring Atlas Projects”

• Hyperion Mineral Resources: 31 March 2021 – “Project MORE Update Boonanarring Atlas Projects”

• Atlas Mineral Resources: 8 May 2017 – “68% increase in Mineral Resources for Atlas Project”

• Titan Mineral Resources: 31 October 2019

• Telesto South Mineral Resources: 31 October 2019

• Calypso Mineral Resources: 31 October 2019.

• Drummond Crossing Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements”

• Durack Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements

• Ellengail Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements

• Robbs Cross Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements

• Thomson Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements

• Yandanooka Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements

• Corridor Mineral Resource: 11 March 2022 “Mineral Resource Update – Eneabba Tenements

The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of reporting of Ore Reserves and Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which any Competent Person’s findings are presented have not been materially modified from the original market announcement.

This report includes information that relates to Ore Reserves and Mineral Resources for non-material mining projects of the Company which were prepared and first disclosed under JORC Code 2004. The information was extracted from the Company’s previous ASX announcements as follows:

• Regans Ford Mineral Resources: 20 February 2017

• Gingin South Mineral Resources: 21 July 2011

• Red Gully Mineral Resources: 9 March 2011

The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of reporting of Ore Reserves and Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which any Competent Person’s findings are presented have not been materially modified from the original market announcement. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Image Resources NL | ABN 57 063 977 579 Level 2, 7 Ventnor Avenue, West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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