IMAGE RESOURCES NL — Regulatory Filings 2003

Jan 13, 2003

IMAGE RESOURCES NL

ASX Release 14 January 2003

Floor, 35 Outram St 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

PROPOSED DRILLING AT WILTHORPE AND DOOLGUNNA GOLD PROJECTS

Wilthorpe (Image 90%)

Exploration Update, January 2003

A 2,000m RAB drilling programme is scheduled to be carried out during the March quarter on Image Resources' Wilthorpe gold project situated 20km south of the 1Moz Fortnum gold mine in the Peak Hill area of WA.

The 40-hole programme is designed to test two targets. The first target is a broad zone of gold mineralisation intersected in previous exploration drilling in the northern part of the 11sq km tenement. The proposed drilling will test the depth and possible strike extensions of intersections of 32m at 1.0 $g/t$ Au from a depth of 8m (including a higher grade zone of 7m at 2.0 $g/t$ Au) and 4m at 3.0 $g/t$ Au from 40m. These intersections are approximately 100m apart and appear to be open along strike.

The second target is a 2km-long gold anomaly defined by recent shallow geochemical drilling, with a peak gold value of 226ppb compared to a background of less than 5ppb. This anomaly is along strike from the drilled gold mineralisation to the north and occurs in the unexplored southern part of the tenement. A broad 1km-long arsenic anomaly coincides with the southern part of the gold anomaly.

These features provide attractive drilling targets in an area of known gold mineralisation with potential for significant resources.

Doolgunna (Image 51%, earning to 60%)

Also in the Peak Hill region a 1,500m RAB drilling programme is planned during the March quarter at Image's 51%-owned Doolgunna gold project, 45km ESE of the Peak Hill gold mine. Image Resources is earning an additional 9% interest in this property by sole funding \$150,000 of exploration on the Peak Hill Joint Venture prior to May 2004.

The 30-hole programme will test a pronounced 1,500m-long arsenic anomaly (peak value 689ppm arsenic) defined by geochemical drilling of a previously outlined surface lag geochemical anomaly. Low-order gold values coincide with the arsenic anomaly, which in this Proteozoic terrane is considered to be prospective for gold mineralisation at depth.

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

Please direct enquiries to: Roger Thomson Managing Director Phone (08) 9485 2410

George Sakalidis Executive Director - Exploration Phone (08) 9324 2810

The information on mineralisation contained in this report accurately reflects the information compiled by Mr Roger Thomson BSc, MAusIMM, who is a competent person (as defined by the Australasian Code of Reporting of Identified Mineral Resources and Ore Reserves) with relevant experience in relation to such mineralisation