Press Releases

Perth, Mar 5, 2010 (ABN Newswire) - Image Resources NL (ASX:IMA) (PINK:IMREF) infill drilling programme that will support a measured resource estimate at Image's high grade Atlas project is complete. This drilling closes the drill hole pattern to 100m x 20m, and brings the number of holes drilled at Atlas to 1,721, for a total of 22,130m. Forty percent of the sample processing is complete. Results so far confirm the high grades found last year and have extended high grades 200 metres to the south.

Thirteen of Image's own mineralogical composite samples from Atlas are being analysed, with another 12 to be prepared. This test work will provide detailed mineral assemblage information and also test the suitability of the ilmenite as synthetic rutile feedstock.

In areas to the east of Atlas, a programme of work of drilling on the Rhea mineralisation and other magnetic targets in vacant crown land has been approved by the DMP. A review of drilling and geophysical data has led to a refined interpretation of both strand and channel-style mineralisation, with new targets generated.

Table 1
Alas Resource Estimate Heavy Minerals and Mineralisation - August 2009

-----------------------------------------------------
Category    Cut Off    Tonnes   Grade  Slimes  t HM
           Grade %HM             %HM     %
-----------------------------------------------------
Indicated     2.5    14,600,000  6.2    15.6  910,000
-----------------------------------------------------

Atlas Resource Estimate Heavy Mineral Suite
-----------------------------------------------
Category  Ilmenite  Leucoxene  Zircon   Other
                    + Rutile
-----------------------------------------------
Inferred  555,000t   66,000t  102,000t 186,000t
Inferred    61.0%     7.3%      11.2%    20.4%
-----------------------------------------------

Highlights

- Close spaced 100m x 20m drill pattern
- High grade mineralisation extended 200m further south.
- Drilling confirms high grades discovered previously, including:

---------------------------------------------------
Hole     MGA     MGA      From   To  Interval
Number   East    North     m     m      m      % HM
---------------------------------------------------
A105   331739   6618125    3     5      2      33.1
A122   331759   6618299    4     7      3      22.3
A123   331779   6618299    4     7      3      22.0
A142   331799   6618501    4     7      3      31.1
A143   331820   6618503    3     7      4      23.2
A144   331839   6618504    1     7      6      37.4
A145   331859   6618502    0     6      6      28.2
---------------------------------------------------

Work completed:
- 388 holes for 4,268 metres drilled at Atlas, bringing the resource drilling total to 1,721 holes for 22,130 metres. Hole spacing over the entire deposit is now 100m x 20m, more than adequate to support a measured resource estimate.

- 1,925 samples assayed so far (about 45% of total).

- 31 drill holes completed at the nearby Titan resource.

- 2 Geotechnical core holes completed, and remain as water monitoring bores.

Work in progress:

- Remaining assays - about 3-4 weeks.

- Mineralogical analysis of composite samples - about 5-6 weeks.

Planned work:

- Measured resource estimate - approximately 4 weeks following completion of mineralogical analyses.

- Drilling of Rhea and other targets - upon finalisation of approvals.

- Drilling of 3 new targets at Cooljarloo North - upon finalisation of approvals.

For the complete Image Resources ASX Announcement including further tables and figures, please click the link below:

http://www.abnnewswire.net/media/en/docs/62401-ASX-IMA-482894.pdf

Contact

George Sakalidis Managing Director Tel: +61-8-9485-2410 Mob: +61-411-640-337 Roger Thomson Executive Director Tel: +61-8-9485-2410 Mob: +61-419-969-183