IMAGE RESOURCES NL — Director's Dealing 2007

Dec 10, 2007

Appendix 3Y

Change of Director’s Interest Notice

Name of entity	MAGNETIC RESOURCES NL
ABN:	34 121 370 232

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	George Sakalidis
Date of last notice	21 November 2007
Date of this notice	11 December 2007

Part 1 - Change of director’s relevant interests in securities

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)	Indirect interests held by:Leeman Pty Ltd, a company controlled by MrSakalidis;G and J Sakalidis acting as joint trustees for theSakalidis Superannuation FundRBC Dexia Investor Services Australia NomineesPL, a company holding securities for Mr Sakalidis
Date of change/s	4 to 10 December 2007
No. of securities held prior to change	1,446,388 fully paid ordinary shares3,026,113partlypaidfullyparticipatingcontributory shares issued at $0.00 with $0.20payable
Class	Fully paid ordinary shares,
Number acquired	66,028 fully paid ordinary shares
Number disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Purchases - $10,192
No. of securities held after change	1,512,416 fully paid ordinary shares3,026,113partlypaidfullyparticipatingcontributory shares issued at $0.00 with $0.20payable
Nature of change	Purchased on market

Magnetic Resources NL - Appendix 3Y Lodged with ASX 11 December 2007

Part 2 – Change of director’s interests in contracts

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)
Date of change
No. and class of securities to whichinterest related prior to change
Interest acquired
Interest disposed
Value/Consideration
Interest after change

Magnetic Resources NL - Appendix 3Y Lodged with ASX 21 November 2007