IMAGE RESOURCES NL — Regulatory Filings 2014

Oct 29, 2014

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ASX Code: IMA 30th November 2014

Suite 4a, 5 Mumford Place Balcatta WA 6021 PO Box 1075 Balcatta WA 6914 Telephone 08 9485 2410 Facsimile 08 9240 7845 www.imageres.com.au Image Resources NL ABN 57 063 977 579

Resource and Exploration drilling commencing

Image Resources NL (ASX: IMA) announces that 4 POW’s (Programme of Works) have been approved and a vigorous 257 hole Stage 1 drilling programme is expected to start in November 2014 in an endeavour to make Boonanarring a standalone operation and concurrently expand other areas into potential parallel operations for Image and or other producers (Fig.1). All holes planned in this programme will be within the Red Gully-Boonanarring-Gingin North- Gingin South-Chandala region.

One of the programmes includes infill drilling within the Gingin North Resource and its northern extensions potentially linking that resource and extension with the Boonanarring Resource. This is the largest drilling programme in stage one and includes 132 holes (Fig.2). The delineated Gingin North Resource is made up of 3 strands. However, interpretation suggests a proliferation of 6 strands contained within a 600m width in the Gingin North Mining Lease M70/1193. These strands continue for at least a further 750m north of the Gingin North M70/1193. These extensions will be tested for a further 1km north to see if there is a link up to our main Boonanarring Resource which contains 2 main strands.

A second, yet just as important target, is the Gingin South area where 22 holes are planned (Fig.3). There are two objectives for this programme. First, to test for any continuation of the 5.5 km Gingin South deposit in a northerly direction potentially linking with the Gingin Mine over a distance of 7km. The Gingin mine was mined by Iluka over a 2.5km distance. Secondly, and just as importantly, to test an interpreted eastern parallel strand that is 14 km long. This strand was interpreted from a recent ground magnetic survey completed by the Company. The significance of this eastern parallel strand may be similar to that at Boonanarring where the easternmost strand has a much higher average HM grade and zircon percentage than the western strand.

A third target is the northern extension of the high grade Boonanarring deposit where 20 holes are planned (Fig.4). No previous drilling has been carried out in these areas on the west side of the Brand Highway.

The drilling component of the 257 holes planned for this stage 1 programme has been pre paid by a placement of shares to a major WA drilling company (see ASX release Quarterly Activities Report 31 July 2014).

These targets will be tested over several months starting in November.

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For more information visit imageres.com.au Please direct enquiries to:

George Sakalidis Exploration Director M: +61 411 640 337 E: george@imageres.com.au

Collis Thorp Chief Executive Officer M: +61 413 705 075 E: cthorp@imageres.com.au

COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS AND MINERAL RESOURCES AND RESERVES

The information in this report that relates to Exploration Results, Mineral Resources and Mineral Reserves is based on information compiled by George Sakalidis BSc(Hons) who is a member of the Australasian Institute of Mining and Metallurgy. At the time that the Exploration Results, Mineral Resources and Mineral Reserves were compiled, George Sakalidis was a director of Image Resources NL. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. George Sakalidis consents to the inclusion of this information in the form and context in which it appears in this report.

FORWARD LOOKING STATEMENTS

Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the mining industry, expectations regarding prices, exploration or development costs and other operating results, growth prospects and the outlook of Image’s operations contain or comprise certain forward looking statements regarding Image’s operations, economic performance and financial condition. Although Image believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.

Accordingly, results could differ materially from those set out in the forward looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes that could result from future acquisitions of new exploration properties, the risks and hazards inherent in the mining business (including industrial accidents, environmental hazards or geologically related conditions), changes in the regulatory environment and other government actions, risks inherent in the ownership, exploration and operation of or investment in mining properties, fluctuations in prices and exchange rates and business and operations risks management, as well as generally those additional factors set forth in our periodic filings with ASX. Image undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events.