IMAGE RESOURCES NL — Capital/Financing Update 2016

Feb 23, 2016

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ASX Code: IMA 24 February 2016

Ground Floor, 23 Ventnor Avenue West Perth WA 6005 PO Box 469 West Perth WA 6872 Telephone 08 9485 2410 Facsimile 08 9486 8312 www.imageres.com.au Image Resources NL ABN 57 063 977 579

SHARE PLACEMENT

Image Resources NL (“Image” or “the Company”) (ASX: IMA ) is pleased to announce that it has received commitments to subscribe for 16,000,000 new shares in Image to raise $800,000 (before costs). The commitments have been received from a mix of new and existing shareholders.

The new shares issued will be issued pursuant to the Company’s existing capacity under ASX Listing Rule 7.1 with settlement later this week.

The funds raised will strengthen Image’s current financial position allowing the Company to continue exploration activity with sufficient funds to complete the transaction between the Company and Murray Zircon Pty Ltd and its parent, Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd.

Commenting on the transaction, Mr Sakalidis said “We are extremely thankful for this show of support as the Company moves forward towards production.”

This is the announcement intended to lift the halt in trading of the Company’s securities.

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

George Sakalidis Executive Director - Exploration

Phone +61 8 9485 2410 Mob +61 411 640 337

John L C Jones

Chair

Phone +61 8 9485 2410 Mob +61 418 624 929