IMAGE RESOURCES NL — Board/Management Information 2012

May 24, 2012

ABN 57 063 977 579

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2[nd] Floor, 16 Ord Street 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

ASX Release 25 May 2012

ASX code: IMA

IMAGE APPOINTS HIGHLY EXPERIENCED MINERAL SANDS ENGINEER AS MANAGING DIRECTOR TO DRIVE NORTH PERTH PROJECT DEVELOPMENT

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Western Australian Heavy Minerals (HM) developer Image Resources is pleased to announce the appointment of Peter Davies to the position of Managing Director.

This appointment is consistent with Image’s transition from explorer to project developer and producer at the company-transforming North Perth Basin mineral sands project.

Peter Davies has wide spread operational experience in the mineral sands industry having held the positions of General Manager, Chandala for Tiwest (mineral sands processing and synthetic rutile production), Director European Operations for Kerr-McGee Chemicals/Tronox (titanium dioxide pigment manufacturing) and various senior operational and project management positions, including with Billiton International Metals, Dominion Mining, Delta Gold and CSA Global.

Peter, who was appointed to the position of Project Manager for the North Perth Basin minerals sands project feasibility study in February 2012, has a proven track record of successful management, where the focus has been primarily on long term performance, in addition to achieving short term problem solving results.

Peter’s project team, which has extensive experience in minerals sands project design, operations, logistics and marketing in Western Australia, has already achieved considerable progress in taking the North Perth Basin minerals sands development forward.

Mr Davies said that he was delighted to be taking up this new role at Image Resources and with the progress being achieved with the North Perth Basin project.

“Work on the updating of the August 2011 Scoping Study and development of concepts for fast tracking project implementation is progressing encouragingly with indications suggesting the North Perth Project will outperform the Scoping Study projections. The Company expects to be in a position to announce the results of this work in June,” Mr Davies said.

In addition to his role as MD, Peter will continue to project manage the North Perth Basin mineral sands project and Image welcomes the skills and experience that he brings to this companytransforming project at both an operational and board level.

As part consideration and incentive for and in providing his services, Peter Davies has been granted the following options to acquire fully paid ordinary shares in the Company:

Number of options	Exercise Price $A	Expiry Date
1,250,000	$0.50	1/6/2015
1,250,000	$0.70	1/6/2016
1,250,000	$1.00	1/6/2016

Image is also pleased to report that George Sakalidis will continue to serve as an executive exploration director. George’s unique skills have consistently been demonstrated to predictively identify VHM deposits missed by other explorers. His role will be to define further high grade resources - not only in the North Perth Basin - but globally.

Roger Thomson, an executive director of Image since it listed in 2002, will step down as a Director. The board wishes to thank him for his contribution to Image.

For more information on the company visit www.imageres.com.au Please direct enquiries to:

Peter Davies George Sakalidis Managing Director Executive Exploration Director Phone (08) 9485 2410 Phone (08) 9485 2410 Mobile 0409 296 676 Mobile 0411 640 337

Media: Colin Hay PPR 08 9388 0944

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