IMAGE RESOURCES NL — Regulatory Filings 2007

Sep 17, 2007

ASX Code: IMA

ASX Release: 18 September 2007

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SUPER HIGH-GRADE INTERSECTIONS CONFIRMED AT COOLJARLOO NORTH UP TO 5m @ 38.1% HM

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

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Consistent very high-grade results have been received from laboratory results for all infill drilling at Target 1 and a new strand has been discovered called Target 7 (refer to map, section and tables). Resource estimation work is underway on Target 1 which will henceforth be named Hyperion, after the Saturnine satellite.

The prospect’s high grade is illustrated by the distribution of its assays. 530 samples exceed 2% HM with twelve of these exceeding 50% HM and the highest grade being 76.2% HM. Image Resources expects that Hyperion will prove to be an economic deposit of heavy mineral sands.

The new high-grade highlights include:

Hole No		From m	To m	Interval m	Grade % HM
CN525		8	12	4	27.5
	Including	9	12	3	35.3
CN544		3	11	8	24.6
	Including	4	10	6	31.9
CN517		3	9	6	19.4
	Including	6	9	3	36.9
CN594		9	15	6	18.6
CN520		4	11	7	18.6
	Including	5	10	5	24.4
CN505		4	12	8	16.9
CN538		2	11	9	16.1
CN514		1	15	14	15.8
	Including	5	10	5	38.1
CN510		4	9	5	13.2
	Including	6	8	2	27.9
CN591		7	13	6	12.5
CN612		2	10	8	12.0
	Including	5	10	5	16.2

Hyperion is a consistent shallow very high-grade strand which is 4.5km long and has now been drilled on a 20m x 100m grid, which is sufficient spacing for a measured category resource estimate. A previous release on 17 May 2007 showed good contained zircon/rutile grades up to 20%. A short infill drilling programme is planned to define the high-grade zones in more detail, especially in the northern part of the prospect. Hyperion averages 40 – 60 m in width, but is up to 120m wide. Its average thickness is 5m and overburden 4m. 259 holes have been drilled in the prospect for a total of 5,293 metres. Of these, 71 holes exceed an average grade of 5% HM and 1,521 samples have been assayed to date.

Target 7, which is 0.5km west of Hyperion is a new strand that has been intersected in a number of drill holes and follow up drilling is planned to test for its northern extensions. In this programme, northern extension drilling is also planned for Target 5 to outline the extent of the high-grade mineralisation of up to 7m @ 6.8% HM from 4m in hole CN562.

Further interpretation of the magnetometer data in conjunction with the drilling, has revealed another 6 targets which will be drilled in the next exploration programme. These add another 12 km to the length of magnetic targets, bringing the total length yet to be drilled to more than 20 km within the Cooljarloo North tenement area.

Further ASX announcements will be made as laboratory results of recent infill drilling on Target 2 become available.

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Selected High Grade Intersections – Hyperion and Target 7

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Stacked Drillhole Cross Sections – Hyperion Prospect

Hole No	Collar Coordinates	Collar Coordinates		From m	To m	Interval m	Grade % HM
	North	East
CN525	6631292	329581		8	12	4	27.5
			Including	9	12	3	35.3
CN544	6630902	329720		3	11	8	24.6
			Including	4	10	6	31.9
CN517	6631900	329421		3	9	6	19.4
			Including	6	9	3	36.9
CN594	6632700	329180		9	15	6	18.6
CN520	6631500	329550		4	11	7	18.6
			Including	5	10	5	24.4
CN505	6632100	329340		4	12	8	16.9
CN538	6631102	329670		2	11	9	16.1
CN514	6631700	329495		1	15	14	15.8
			Including	5	10	5	38.1
CN510	6631899	329399		4	9	5	13.2
			Including	6	8	2	27.9
CN591	6632500	329245		7	13	6	12.5
CN612	6633300	329020		2	10	8	12.0
			Including	5	10	5	16.2
CN611	6633300	329000		2	12	10	11.4
CN613	6633300	329040		2	12	10	10.7
CN614	6633300	329060		2	9	7	9.9
CN542	6630900	329730		7	14	7	9.8
CN623	6633500	328915		9	12	3	9.6
CN595	6632700	329200		11	14	3	8.3
CN513	6631700	329475		3	13	10	8.0
CN519	6631500	329530		8	12	4	7.6
CN079	6631197	329635		16	22	6	6.9
CN149	6632600	329218		12	14	2	6.9
CN615	6633300	329080		1	9	8	6.8
CN144	6632446	329270		12	14	2	6.6
CN518	6631900	329440		3	9	6	6.4
CN060	6631399	329572		22	26	4	6.4
CN504	6632093	329321		12	13	1	6.2
CN185	6633999	328859		2	10	8	6.1
CN602	6633100	329060		3	15	12	5.8
CN543	6630900	329750		8	9	1	5.7
CN509	6631900	329379		7	8	1	5.6
CN060	6631399	329572		26	27	1	5.5
CN166	6633199	329154		2	6	4	5.5
CN022	6632201	329348		8	9	1	5.4
CN506	6632101	329360		3	10	7	5.2

Table 2: Summary of Assayed Intersections – Hyperion Prospect

Hole No	Collar Coordinates	Collar Coordinates		From m	To m	Interval m	Grade % HM
	North	East
CN548	6630700	329775		5	8	3	5.1
CN183	6634002	328790		4	10	6	5.1
CN173	6633600	328887		8	12	4	5.0
CN165	6633200	329129		2	8	6	4.9
CN015	6632202	329140		6	10	4	4.8
CN599	6632901	329141		12	13	1	4.6
CN597	6632900	329100		7	13	6	4.5
CN186	6634194	328761		4	14	10	4.1
CN151	6632598	329257		8	12	4	4.1
CN168	6633401	328931		4	14	10	4.1
CN598	6632902	329120		6	12	6	4.0
CN603	6633100	329080		3	11	8	4.0
CN500	6632301	329284		8	11	3	3.9
CN507	6632100	329380		3	8	5	3.7
CN187	6634195	328789		4	12	8	3.6
CN148	6632600	329200		12	14	2	3.5
CN549	6630700	329798		3	6	3	3.4
CN174	6633599	328929		4	10	6	3.4
CN501	6632299	329299		6	10	4	3.4
CN535	6631101	329719		6	8	2	3.4
CN082	6631198	329705		2	4	2	3.4
CN606	6633100	329040		4	11	7	3.4
CN616	6633300	329100		2	8	6	3.3
CN158	6633002	329057		8	12	4	3.3
CN040	6631808	329465		18	26	8	3.2
CN557	6631102	329697		4	6	2	3.2
CN589	6632500	329226		10	12	2	3.0
CN177	6633800	328817		2	12	8	3.0
CN607	6633096	329019		5	14	9	2.9
CN609	6633198	329001		5	9	4	2.7
CN521	6631500	329570		4	5	1	2.7
CN160	6633006	329105		8	12	4	2.6
CN159	6633002	329078		6	14	8	2.5
CN043	6631804	329567		34	38	4	2.3
CN610	6633200	329021		3	11	8	2.3
CN526	6631300	329570		11	12	1	2.3
CN625	6633500	328960		10	11	1	2.3
CN604	6633098	329103		3	6	3	2.3
CN050	6631599	329502		14	16	2	2.0

Table 2 continued

Hole No	Collar Coordinates	Collar Coordinates	From m	To m	Interval m	Grade % HM
	North	East
CN564	6630199	329053	7	13	6	7.1
CN562	6630199	329090	5	12	7	6.8
CN563	6630197	329072	5	12	7	6.2
CN565	6630201	329120	6	13	7	5.4
CN552	6630600	329410	5	7	2	4.5
CN568	6630204	329212	3	8	5	4.0
CN567	6630204	329189	4	9	5	3.9
CN566	6630199	329170	3	11	8	3.7
CN570	6630200	329252	3	9	6	3.6
CN569	6630204	329231	2	9	7	2.9

Table 3: Summary of Assayed Intersections – Target 7

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 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.