IMAGE RESOURCES NL — Investor Presentation 2016

May 11, 2016

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May 2016 ASX:IMA

Forward Looking Statement

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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.

Investment Highlights

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Focused on bringing Boonanarring into production in early 2017

Location advantage

• Situated in the heart of WA mineral sands province, just north of Perth

• Adjacent to major highway, access to power & gas

• Neighboured by majors Tronox and Iluka

Boonanarring – flagship asset

• High grade HM (8.3%)[1] and high grade Zircon content (24.5%)[1 ]

• Low capex

• Proven mining district and known geology

• Merger with Murray Zircon

• Wet plant and infrastructure (~$20m value) in return for initial 42% shareholding in Image

• US$4m short term loan facility drawable on completion

• 90% Zircon off-take & US$8m working capital facility

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1. Reserve grades (see Appendix).

Corporate Snapshot Corporate Snapshot

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Management highly experienced in mining and mineral sands

Share Code: Share Price:

12 Month Price Range: Shares on Issue: Market Cap: Cash at end of Mar quarter: Debt: Top 20 Shareholders:

IMA A$0.08 A$0.046 – 0.11 216m A$17m A$0.68m nil 45%

Key Management

Collis Thorp – Chief Executive Officer Mechanical Engineer, previous MD Cable Sands, CEO Moly Mines

John McEvoy – Chief Financial Officer Corporate / mining, previous FC Cable Sands

Todd Colton – Project Manager Mining Engineer, operations WSL / Iluka

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Board of Directors

George Sakalidis – Exploration Director Geophysicist, led discovery of mineral sand deposits

Peter Thomas – Non-Executive Director Legal / corporate, previous Chairman Sandfire Resources

Aaron Chong Veoy Soo – Non-Executive Director Legal, currently a partner in Stanley Ponniah, Ng & Soo, Advocates & Solicitors.

About Murray Zircon & OZC

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Experienced & well-credentialed partners

Murray Zircon

• Incorporated joint venture, 65% owned by OZC

• Owns and operated the Mindarie mineral sands project in 150km east of Adelaide in South Australia

• Redeveloped & recommenced mining in 2011/2012, completed mining Reserves in March 2015

• CEO is Patrick Mutz

Guandong Orient Zirconic Ind Sci & Tech Co., Ltd

• Based in Shantou (~500km NE of Hong Kong)

• Listed on Shenzhen Stock Exchange, market cap ~A$1.6b1

• Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd.(stock code: 002167), founded in 1995 is a national key new high-tech enterprise which is specialised in development , production and operation of zirconic series products. It’s main products range from zirconium dioxide, zirconium oxychloride, compound zirconia, zirconia ceramic structure, zirconium silicate, fused zirconia and zirconium sponge

• Used in Nuclear energy, special ceramics, biological ceramics, optical communication devices, solid-fuel battery, aerospace fields, electronic ceramics, imitation jewel, ceramic glaze colour, high fireproofing, many new materials and new industries including Zirconium oxychloride and zirconium dioxide, fused zirconic products

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Murray Zircon wet concentrator

1. As at 8 May 2015.

Boonanarring Project Schedule

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Aiming for first production in early 2017

MZ due diligence / agreements

CPs & transaction completion Complete DFS Project approvals Tolling agreement Financing

2015 2016 2017 Execution of agreements  Image shareholder approval under s611(7)  Other regulatory approvals required

WCP re-location Construction Pre-stripping Ore mining Plant commissioning Production

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Boonanarring Approvals

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Approvals are well-advanced

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Mining Lease & General Purpose Lease

Part IV, Environmental Protection Act (WA) – PER

EPBC Act (Commonwealth)

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FIRB Approval for merger as contemplated in the MoU Landowner access agreements

Section 5C Groundwater Abstraction Licence (Dept of Water and Dept Parks & Wildlife)

Complete waiting on issue of licence

• Water Operating Strategy Management Plan

• Nature Reserve Vegetation / Groundwater Monitoring & Response Plan (condition 6 of PER)

• Groundwater Monitoring Plan (condition 7 of PER)

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Works Approval (EPA)

Mining Proposal (includes Mine Closure Plan)

Project Management Plan

Radiation Management Plan

North Perth Basin Projects

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High VHM and very high Zircon grade at Boonanarring

Probable Reserves	Ore (Mt)	HM (%)	Slimes (%)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
**Boonanarring1 **	14.4	8.3	17.0	80	47	6	3	25
**Atlas1 **	9.7	8.1	15.5	74	55	1	7	11
TOTAL	24.1	8.2	16.4	78	50	4	5	19

Resources	Ore (Mt)	HM (%)	Slimes (%)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
**Boonanarring1 **	21.5	8.3	16.2	79	49	6	4	21
**Gingin North1 **	2.4	5.5	15.0	77	57	10	3	6
**Red Gully1 **	6.0	7.7	11.2	90	66	8	3	12
**Atlas1 **	10.8	7.9	15.7	76	52	5	8	10
**Cooljarloo2 **	191.6	1.9	17.8	85	71	2	1	10
**Chandala / Gingin1 **	8.1	6.1	7.3	89	65	10	5	8
Cooljarloo North1	15.2	5.4	18.8	81	67	1	4	10
**Bidaminna1 **	44.6	3.0	3.6	96	82	7	1	5
TOTAL	300.2	3.2	15.1	86	70	3	2	10

Split of Boonanarring Resource

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1. 2.5% cut-off. 2. 1.0% cut-off.
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Boonanarring Project

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Image’s flagship asset

• Initial Feasibility Study completed in July 2013 with a mine life of 7 years

• Feasibility Study update underway incorporating detailed mine planning and the Murray Zircon WCP

• EPA approved, water licence imminent – other required approvals in progress

• Drilling underway to increase Reserves, targeting a 10 year mine life in 4 separate lines over 27km

• HMC toll treatment discussions underway

• 90% of Zircon to be committed to OZC under offtake agreement

• Evaluation of financing options following completion of Murray Zircon transaction

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THE TEAM RESOURCES & RESERVES

APPENDICES

Competent Person’s Statement

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COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS

The information in this presentation that relates to exploration results is based on information compiled by George Sakalidis who is a member of the Australasian Institute of Mining and Metallurgy. At the time that the exploration results were compiled, George Sakalidis was 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 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

COMPETENT PERSON’S STATEMENT – RESOURCE ESTIMATES

The information in this presentation that relates to mineral resources and reserves is based on information compiled by Lynn Widenbar BSc, MSc, DIC MAIG, MAusIMM 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 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 and financial analysis is based on information compiled by Mr Ray Cary, BSc., who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Geoscientists. Ray Cary is the Director and Principal of Northwind Resources Pty Ltd, a Perth, Western Australia based minerals industry consultancy. Ray Cary has sufficient experience in the technical and economic evaluation of minerals development projects and mining operations which is relevant 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. Ray Cary consents to the inclusion of this information in the form and context in which it appears in this presentation.

APPENDICES

Key Management

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Collis Thorp (FAICD) – Chief Executive Officer

Collis Thorp joined Image in May 2014. He has enjoyed a career of over 45 years in the resources industry, encompassing a broad range of commodities. His 18 years of mineral sands experience includes seven years as Managing Director of Cable Sands RZM Group through to 2005 as well as at Jennings Mineral Sands. His most recent position, prior to joining Image, was as Chief Executive Officer of Moly Mines Limited. Collis has played a major role in more than ten feasibility studies for mineral sands projects, including responsibility for putting in place project finance and off-take arrangements, as well as bringing into production in the order of twenty mines.

John McEvoy – Chief Financial Officer

John McEvoy has extensive experience in senior finance roles in both the public and private sector with 25 years experience in the mining industry. John has experience in the full mining project lifecycle including project

identification/review, mergers & acquisitions, equity/debt financings, project optimisation and asset disposals. John previously held senior finance roles at Barrick Mines (Gold/Copper), Asarco Australia (Gold), Wiluna Mines Limited (Gold), RZM/Cable Sands Group (Mineral Sands) and Moly Mines (Moly/Copper). Previously employed as Financial Controller and Company Secretary for Cable Sands Group (Mineral sands).

Todd Colton – Project Manager

Todd Colton is a mining professional with over 23 years experience in the mining industry, predominately in mineral sands operations with WSL/Iluka, Gunson, AZC and Premier providing operational, technical and management support for project development and mining operations in Australia and overseas. Todd has held operational and senior management roles through feasibility studies, operations planning and design, construction and commercial production.

APPENDICES

Directors

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Current Directors

George Sakalidis – Exploration Director

George Sakalidis is an exploration geophysicist with over 25 years’ industry experience, during which time his career has included extensive gold, diamond, base metals and mineral sands exploration. Mr Sakalidis has been involved in a number of significant mineral discoveries,. He was also instrumental in the design of the magnetic surveys and exploration drilling program that led to the discovery of the large mineral sands resources at Magnetic Minerals Limited's Dongara Project. Magnetic Minerals were taken over by Ticor in early 2003. The geophysical techniques used by Image and George Sakalidis’ proven ability to interpret the results in order to find economic mineralisation which has been missed by other companies, gives Image a significant competitive advantage in this field.

Peter Thomas – Non-Executive Director

Mr Thomas was a practising solicitor from 1980 until June 2011, specialising in the provision of corporate and commercial advice to the resource industry. Since the mid-1980s, he has served on the boards of various listed companies including as non-executive founding chairman of Sandfire Resources NL.

Aaron Chong Veoy Soo – Non-Executive Director

Mr Soo has been a long term supporter and shareholder in Image Resources. Mr Soo is an advocate & solicitor practising in West Malaysia with 16 years of experience in legal practice and currently a partner in Stanley Ponniah, Ng & Soo, Advocates & Solicitors.

Nominated Directors at Completion

Mr Robert Besley – Independent Chairman

Robert Besley is a Director of KBL Mining Limited (ASX:KBL), Chairman of Silver City Minerals Ltd (ASX:SCI) and a Director of Murray Zircon, and has more than 40 years’ experience in the mining industry. Mr Besley has served in a number of Government advisory roles including several years as Deputy Chairman of the NSW Minerals Council. He holds a BSc (Hons) in Economic Geology from the University of Adelaide and he is a Member of the Australian Institute of Geoscientists. He managed the creation, listing and operation of two successful mining companies; CBH Resources Limited which he led as Managing Director from a small exploration company to Australia’s 4th largest zinc producer; and Australmin Holdings Limited (acquired by Newcrest) which brought into production a gold mine in WA and mineral sands mine in NSW. More recently he was a founding Director of KBL Mining Limited which operates the Mineral Hill copper-gold mine in NSW, is Chairman of Silver City Minerals Limited, which is actively exploring for silver-lead-zinc in the Broken Hill District and has been a NonExecutive Director of Murray Zircon from commencement of development and production from the Mindarie Mineral Sands Project. Prior to this Mr Besley’s early career was involved in the exploration and development of mineral deposits for Unocal’s (now Chevron) mineral activities in S.E. Asia, North America, Latin America, Australia and the Pacific. His activities have covered projects in precious metals, base metals, ferroalloys, mineral sands, speciality metals, uranium and coal. Through his corporate management roles Mr Besley has played a central role in project and corporate financing covering a wide range of capital structures as well as acquisitions, mergers and asset sales. Mr Besley will resign from his position as Non-Executive Director of Murray Zircon upon Completion occurring and him being appointed as independent Chairman of Image

APPENDICES

Directors

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Mr Patrick Mutz – Managing Director

Patrick Mutz has more than thirty years of international mining industry experience in technical (metallurgist), managerial, consulting and executive roles in all aspects of the industry from exploration through project development, mining and mine rehabilitation. He has operational experience in open cut, underground, and in-situ mining and related processing, on projects in the USA, Germany, Africa and Australia. Since his arrival in Australia from the USA in 1998, he has served as CEO / Managing Director of a number of publicly listed and private mining companies based in South Australia, Victoria and Western Australia, primarily involved with project development and company transitioning from exploration to production. Mr Mutz is a Fellow of the AusIMM and a member of the Australian Institute of Company Directors. He holds a Bachelor of Science (Honours) and an MBA from the University of Phoenix in the US. Patrick joined Murray Zircon as a senior advisor in early 2012 and served as its Chief Operating Officer during the pivotal transition period from development to operational status in the latter part of 2012. In February 2013 he was invited to take on the role as CEO and to lead the company on its goal of becoming South Australia’s newest mineral sands mining company.

Mr Chaodian Chen – Non-Executive Director

Mr Chen founded Orient Zirconic in 1995 and has built the company into a leading company in the zirconium industry. He served as President and Chairman of the company until mid-2013 when China National Nuclear Corporation (CNNC) became the largest shareholder in Orient Zirconic. He became the Chairman of Murray Zircon when the company was founded in 2011 as a result of Orient Zirconic’s first investment in mining in Australia. Mr Chen is the Vice President of China non-ferrous metals industry association titanium zirconium & Hafnium Branch. He holds an EMBA degree and is a Certified Engineer. He also owns a number of patents involving the processing of zircon.

Mr Fei (Eddy) Wu – Non-Executive Director

Mr Wu has solid operational experience in the Australian resource and mining industry. He specialises in combining the strengths of Australian upstream mining with Chinese downstream processing and end use to optimise the strategy for resource development and maximise the resource value. As the first CEO of Murray Zircon, he built and led the team to complete the development and start-up at the Mindarie mineral sands project in late 2012. Mr Wu was appointed as a NonExecutive Director of Murray Zircon in early 2013. He is currently the CEO and a Director of Queensland Mining Corporation Limited and the CEO of WIM Resources Pty Ltd. Eddy graduated from the University of Science and Technology, Beijing. He holds a Master’s Degree in Commerce (Finance) from the Australian National University and a Master’s Degree in Science from Cass Business School, City University London.

Reserves

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PROBABLE RESERVES(2.5% cut off)	ORE	HM GRADE	CONTAINED HM	ZIRCON IN HM
	Mt	HM %	kt	% Zircon
Boonanarring	14.4	8.3%	1,200	24.5%
Atlas	9.7	8.1%	800	11.0%
TOTAL JORC RESERVES	24.1	8.2%	2,000	19.1%

Refer to the 31 May ASX release http:// 1 Refer to the 31 May ASX release

http://www.asx.com.au/asxpdf/20130531/pdf/42g6v9v0jxn3hg.pdf for full details of the Boonanarring Mineral Resource/Reserve Estimate for full details of the Boonanarring Mineral Resource/Reserve Estimate

COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS AND MINERAL RESOURCES AND RESERVES

Information in this report that relates to Exploration Results, Mineral Resources is based on information compiled by George Sakalidis BSc (Hons) who is a member of the Australasian Institute of Mining and Metallurgy. At the time that the Exploration Results, Mineral Resources and Mineral Reserves were compiled, George Sakalidis was a director 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 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. George Sakalidis consents to the inclusion of this information in the form and context in which it appears in this report.

COMPETENT PERSON’S STATEMENT – RESOURCE ESTIMATES

The information in this report that relates to mineral resources and is based on information compiled by Lynn Widenbar BSc, MSc, DIC MAIG, MAusIMM 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 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.

Resources (1/3)

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BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)	BOONANARRING/RED GULLY PROJECT(2.5% CUT OFF)
		Ore (t)	HM (%)	Slimes (%)	HM (t)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
Boonanarring Deposit
	Measured	3,000,000	7.8	10.1	230,000	70	49	1	3	17
	Indicated	14,300,000	9.0	17.2	1,270,000	80	49	6	3	22
	Inferred	4,200,000	6.5	17.4	270,000	83	51	8	7	18
Sub-total		21,500,000	8.3	16.2	1,770,000	79	49	6	4	21
Gingin North Deposit
	Indicated	1,320,000	5.7	15.7	80,000	75	57	9	3	5
	Inferred	1,090,000	5.2	14	60,000	78	57	11	4	6
Sub-total		2,410,000	5.5	15.0	140,000	77	57	10	3	6
Red Gully Deposit
	Indicated	3,410,000	7.8	11.5	270,000	90	66	8	3	12
	Inferred	2,570,000	7.5	10.7	190,000	90	66	8	3	12
Sub-total		5,980,000	7.7	11.2	460,000	90	66	8	3	12
TOTAL		29,890,000			2,370,000

Resources (2/3)

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ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)	ATLAS/COOLJARLOO PROJECT(2.5% CUT OFF)
		Ore (t)	HM (%)	Slimes (%)	HM (t)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
Atlas	Measured	9,700,000	8.5	15.3	820,000	76	52	5	8	11
Atlas	Indicated	1,080,000	3.2	19.2	34,000	74	53	8	7	6
TOTAL		10,780,000	7.9	15.7	854,000	76	52	5	8	10

COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)	COOLJARLOO PROJECT(1% CUT OFF)
		Ore (t)	HM (%)	Slimes (%)	HM (t)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
Titan	Indicated	21,200,000	1.8	22.1	380,000	84.4	71.9	2	1	9.5
Titan	Inferred	115,400,000	1.9	18.9	2,210,000	84.3	71.8	2	1	9.5
Telesto	Indicated	3,500,000	3.8	18.4	130,000	82.6	67.5	3.4	2.2	9.5
Calypso	Inferred	51,500,000	1.7	13.7	850,000	84.6	68.8	3.5	1.6	10.6
TOTAL		191,600,000	1.9	17.8	3,570,000	84.8	71.3	2.4	1.2	9.8

CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)	CHANDALA/GINGIN PROJECT(2.5% CUT OFF)
		Ore (t)	HM (%)	Slimes (%)	HM (t)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
Gingin South Deposit
	Measured	1,530,000	4.4	7.2	67,000	79	51	15	6	8
	Indicated	5,820,000	6.5	7.1	380,000	91	68	10	5	8
	Inferred	730,000	6.5	8.4	48,000	92	67	8	6	11
TOTAL		8,080,000	6.1	7.3	495,000	89	65	10	5	8

Resources (3/3)

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COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)	COOLJARLOO NORTH PROJECT(2.5% CUT OFF)
		Ore (t)	HM (%)	Slimes (%)	HM (t)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
Helene	Indicated	11,500,000	4.6	18.6	520,000	84	70	1	3	11
Hyperion	Indicated	3,700,000	7.8	19.3	290,000	71	56	0	6	9
TOTAL		15,200,000	5.4	18.8	810,000	81	67	1	4	10

BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)	BIDAMINNA(1% CUT OFF)
	Ore (t)	HM (%)	Slimes (%)	HM (t)	VHM (%)	Ilmenite (%)	Leucoxene (%)	Rutile (%)	Zircon (%)
Inferred	44,600,000	3.0	3.6	1.35	96	82.4	7.2	1	5.4
Total	44,600,000	3.0	3.6	1.35	96	82.4	7.2	1	5.4

Contact Contact

Principal Office Ground Floor, 23 Ventnor Avenue West Perth WA 6005 www.imageres.com.au

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Principal Contact Collis Thorp, CEO Office:+61 8 9485 2410 Mobile:+61 413 705 075 Email: cthorp@imageres.com.au

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