IMAGE RESOURCES NL — Regulatory Filings 2007

Nov 12, 2007

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ASX Release ASX code: IMA 13 November 2007

2[nd] 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

COOLJARLOO NORTH TARGET 2 (9 km length) HIGH-GRADE - UP TO 3m @ 21.1% HM ___________

Image is please to report further excellent heavy mineral laboratory results from the Target 2 strand. Drilling completed during August has reduced the hole spacing predominantly to 20m x 100m, sufficient to allow estimation of a measured resource. A small percentage of the grades reported are from Target 7 and Hyperion (formerly Target 1).

The new high-grade highlights include (see Tables 1 to 3 for details):

Hole ID		From m	To m	Interval m	Grade % HM	Prospect
CN143		8	14	6	15.7	Hyperion
	including	8	12	4	22.0	Hyperion
CN805		14	20	6	16.0	Target2
	including	15	20	5	18.7	Target2
CN795		6	12	6	12.9	Target2
	including	9	12	3	21.1	Target2
CN794		6	12	6	12.8	Target2
	including	7	12	5	14.2	Target2
CN833		12	17	5	12.0	Target2
CN806		14	19	5	10.7	Target2
CN799		10	20	10	10.6	Target2
	including	11	18	7	13.8	Target2
CN701		12	18	6	10.4	Target2
	including	14	18	4	13.5	Target2

1 or 2m samples, grades determined by TBE heavy liquid separation

Target 2 comprises three sub parallel strandlines, totaling 9km in length, two of which are continuous over strike lengths of 4.5 and 4 km. The third is a smaller strand about 1 km in length and lies between the two larger strands (see Figure 1). The Target 2 resource estimate will form part of the resource estimation of the combined Cooljarloo and Cooljarloo North area which now contains identified strands totaling 38 km in strike length.

At Target 2, 367 holes have now been drilled for a total of 9,555 metres. Of the 1,336 samples processed so far, 712 exceed a cut-off of 2% heavy mineral (average grade 6.1%) and 106 exceed 10% (average grade 14.8%), with a highest grade of 36.9%. The remaining 473 samples are currently being processed. In total, 247 holes have intersections of 2%HM or more.

Also shown on Figure 1 is a new exploration licence application that covers a short strike extension of Target 2.

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Figure 1 Cooljarloo North Project Target 2 and Target 7 Drill Intersection Summary

Table 1 Drill Intersections – Target 2

HoleID	MGA EAST	MGA NORTH		From m	To m	Interval	Grade % HM
CN805	331715.3	6635689		14	20	6	16.0
			including	15	20	5	18.7
CN795	331522.6	6636041		6	12	6	12.9
			including	9	12	3	21.1
CN794	331505.8	6636030		6	12	6	12.8
			including	7	12	5	14.2
CN833	331195.8	6636544		12	17	5	12.0
CN806	331748.8	6635711		14	19	5	10.7
CN799	331631.5	6635873		10	20	10	10.6
			including	11	18	7	13.8
CN701	330812.4	6637201		12	18	6	10.4
			including	14	18	4	13.5
CN800	331648.3	6635884		10	12	2	10.1
CN813	331933.1	6635353		9	19	10	9.9
			including	10	16	6	13.2
CN800	331648.3	6635884		12	17	5	9.7
CN802	331597.9	6635851		12	18	6	9.1
			including	15	18	3	13.9
CN820	330793.6	6637237		11	18	7	8.4
			including	15	18	3	14.6
CN798	331614.7	6635862		8	16	8	8.4
CN788	331321.5	6636387		9	17	8	8.1
CN827	331086.9	6636712		14	17	3	8.1
CN809	331807.4	6635510		13	18	5	7.9
CN722	331505.2	6636000		8	14	6	7.2
CN715	331144.7	6636599		12	22	10	7.0
CN726	331632.1	6635800		12	18	6	7.0
CN739	332022.7	6635196		18	24	6	6.6
CN710	331009.9	6636798		12	18	6	6.6
CN787	331304.7	6636376		13	17	4	6.3
CN801	331665	6635895		12	19	7	6.0
CN790	331271.2	6636354		13	18	5	5.9
CN832	331179	6636533		12	16	4	5.8
CN834	331212.6	6636555		10	12	2	5.6
CN735	331816.9	6635001		12	22	10	5.5
CN702	330847	6637202		14	18	4	5.3
CN821	330827.2	6637258		11	17	6	5.2
CN818	330718.2	6637426		9	16	7	5.0
CN711	331031.5	6636800		10	14	4	4.9
CN829	331120.4	6636733		11	16	5	4.8
CN717	330890.6	6636400		14	18	4	4.8
CN738	331900.7	6635200		14	22	8	4.6
CN826	331070.1	6636701		13	17	4	4.6
CN730	331761.5	6635399		12	20	8	4.5
CN786	331287.9	6636365		12	17	5	4.5
CN723	331470.5	6635809		6	14	8	4.4
CN812	331899.6	6635332		16	20	4	4.3
CN706	330927.9	6637001		16	20	4	4.3
CN817	330701.5	6637415		8	17	9	4.1
CN705	330889.8	6636998		16	18	2	4.0
CN797	331490	6636020		8	12	4	4.0
CN832	331179	6636533		10	12	2	3.9
CN719	331386.5	6636202		12	16	4	3.8
CN795	331522.6	6636041		2	6	4	3.7

Table 1 (cont’d)

Hole ID	MGA EAST	MGA NORTH		From m	To m	Interval m	Grade % HM
CN709	330986.9	6636799		16	20	4	3.5
CN734	331682.7	6634997		10	18	8	3.5
CN810	331824.2	6635521		12	16	4	3.3
CN816	330667.9	6637394		13	17	4	3.0
CN830	331137.2	6636744		11	14	3	2.9
CN801	331665	6635895		10	12	2	2.9
CN732	331840.1	6635400		18	22	4	2.7
CN815	330651.1	6637383		15	17	2	2.4
CN704	330681.9	6636999		22	24	2	2.3
CN833	331195.8	6636544		10	12	2	2.2
CN733	331350.1	6635401		10	14	4	2.1
CN740	331961.4	6635197		10	12	2	2.0
CN798	331614.7	6635862		6	8	2	2.0
CN794	331505.8	6636030		0	6	6	2.0

1 or 2m samples, grades determined by TBE heavy liquid separation

Table 2 Drill Intersections – Target 7

Hole ID	MGA EAST	MGA NORTH		From m	To m	Interval m	Grade % HM
CN684	328990.1	6630199		11	18	7	6.7
CN659	328909.8	6631199		15	18	3	6.0
CN660	328947.5	6631199		14	17	3	5.9
CN697	329235.8	6630026		5	10	5	5.6
CN687	329011.3	6630200		10	15	5	5.4
			including	13	14	1	10.2
CN686	328949.7	6630206		12	13	1	5.0
CN695	329216	6630025		6	11	5	4.9
			including	9	10	1	8.6
CN668	328962.6	6630818		8	12	4	4.9
CN681	329147.6	6630201		3	11	8	4.6
CN666	328924.8	6630803		9	13	4	4.5
CN696	329195.9	6630020		8	12	4	4.4
CN665	328911.1	6630798		7	9	2	4.4
CN667	328946.8	6630816		9	14	5	4.3
CN693	328976.2	6630013		10	15	5	4.1
CN664	328884.7	6630799		7	10	3	4.1
CN663	328860.6	6630798		10	12	2	4.1
CN671	329024.5	6630792		8	11	3	3.9
CN680	329215.6	6630397		2	7	5	3.9
CN669	328986.8	6630801		8	13	5	3.8
CN685	328970.9	6630201		9	14	5	3.8
CN699	329400.7	6630023		6	8	2	3.8
CN698	329380.2	6630024		6	10	4	3.6
CN672	329051.2	6630799		8	10	2	3.6
CN678	329170.5	6630401		4	8	4	3.6
CN670	329006	6630802		8	12	4	3.6
CN658	328862.4	6631398		11	13	2	3.5
CN692	328956	6630023		10	15	5	3.4
CN677	329129.9	6630386		7	10	3	3.3
CN694	328938.7	6630035		10	15	5	3.1
CN679	329191.1	6630398		3	8	5	2.9
CN662	328838.3	6630798		11	13	2	2.7
CN661	328770	6630997		8	10	2	2.6
CN683	328872	6630197		13	14	1	2.0

1 or 2m samples, grades determined by TBE heavy liquid separation

Table 3 Drill Intersections – Hyperion

Hole ID	MGA EAST	MGA NORTH		From m	To m	Interval m	Grade % HM
CN143	329248.5	6632447		8	14	6	15.7
			including	8	12	4	22.0
CN184	328819.3	6634000		2	10	8	4.4
CN180	328919.7	6633799		2	8	6	3.0

1 or 2m samples, grades determined by TBE heavy liquid separation

As described in previous releases, Target 7 is situated 0.5km west of Hyperion and is a new strand that has been intersected in a number of drill holes with follow up drilling planned to test its northern extensions.

Cooljarloo and Cooljarloo North represent about 6% of Image’s ground position in the North Perth Basin and to date Image has completed 25% of the planned ground magnetic surveys on the remaining tenements. Interpretation of the results of these surveys is in progress and will be released as they become available in the next month.

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

Please direct enquiries to: George Sakalidis Roger Thomson Managing Director Executive Director Phone (08) 9485 2410 Phone (08) 9485 2410 Mob 0411 640 337 Mob 0419 969 183

The information in this report is based on information compiled by George Sakalidis BSc (Hons), and Scott Carruthers BSc,MSc who are members of the Australasian Institute of Mining and Metallurgy. George Sakalidis and Scott Carruthers are employees of Image Resources NL. Both have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. George Sakalidis and Scott Carruthers consent to the inclusion of this information in the form and context in which it appears in this report.