IMAGE RESOURCES NL — Major Shareholding Notification 2022

Apr 25, 2022

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26 April 2022

OZC INTENTION TO ACQUIRE MORE IMAGE SHARES

Image Resources NL (ASX: IMA) (Image or the Company) advises that Guangdong Orient Zirconic Ind Sci & Tech Co. Ltd ( OZC ) has announced its intention to increase its shareholding in Image (through it controlling ownerships in Murray Zircon Pty Ltd and/or Guangdong Orient Zirconic Resources (Australia) Pty Ltd) based on OZC’s confidence in the future development of Image.

In an announcement on 19 April 2022 provided to the Schenzen Stock Exchange OZC (002167.SZ) advised it intends to increase its shareholding in Image through on market purchases, and plans to increase its shareholding by no more than 3% of Image’s total share capital in the six months from the date of approval by its board of directors.

Your directors welcome OZC’s strong endorsement of Image’s future development plans which involve development activities, studies and planning for its 100%-owned mineral sands projects including:

• ongoing development at the Company’s Atlas project;

• continuing feasibility study at its Bidaminna project as a stand-alone project to be operated in parallel with Atlas;

• development planning activities at its Yandanooka project as part of the recent strategic acquisition of the Eneabba Tenements; and

• preliminary planning for development options for its recently acquired McCalls project.

This document is authorised for release to the market by:

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

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 Ave West Perth WA 6005 | PO Box 469 West Perth WA 6872

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