IMX Resources Limited: Gravity Survey Extends the Area of Potential Mineralisation at Ntaka Hill Nickel Sulphide Project

Marketwire

IMX Resources Limited

February 3, 2013 - 07:43:13 PM

IMX Resources Limited: Gravity Survey Extends the Area of Potential
Mineralisation at Ntaka Hill Nickel Sulphide Project

PERTH, AUSTRALIA--(Marketwire - Feb. 3, 2013) - IMX Resources Limited
(TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the 'Company') is pleased to report
that results from a recently completed gravity survey campaign in the Ntaka
Hill-Lionja trend, within its Nachingwea land package, have indicated the
presence of a significantly larger area of ultramafic rocks associated with
the Ntaka Hill Nickel Sulphide Project ('Ntaka Hill') that have the potential
to be mineralised.

The gravity survey highlighted the extent of ultramafic rocks, which host the
nickel mineralisation at Ntaka Hill, within the dense ultramafic rocks
surrounded by less dense altered sedimentary rocks or para-gneisses. The image
of the gravity survey clearly outlines the more dense rocks surrounded by less
dense 'country' rock (see Figure 1).

The large extent of the newly interpreted ultramafic rocks away from the
existing areas of known mineralisation at Ntaka Hill provides a significantly
larger area for the Company to target its exploration aimed at extending the
known Nickel Sulphide Resource.

These findings have the potential to impact on the development options for
Ntaka Hill.

Managing Director Neil Meadows commented: "We are very encouraged by the
results of the gravity survey, highlighting the potential increase in the
extent of ultramafic rocks and mineralisation at Ntaka Hill and remain
confident that there are further zones of mineralisation to be discovered.
Enhancing our understanding of the area of mineralisation and therefore the
potential size of the resource is a priority for the 2013 drilling program,
the results of which will be central to the Company's decisions on development
of the project."

Preparations for the 2013 drilling program are well advanced and on track for
commencement subsequent to the Tanzanian wet season.

NEIL MEADOWS, Managing Director

To view "Figure 1. Ntaka Hill Gravity Image," please visit the following link:
http://media3.marketwire.com/docs/IXR0301_Figure1.pdf.

About IMX Resources Limited

IMX Resources Limited is an Australian based mining and base and precious
metal exploration company listed on the Australian Securities Exchange ('ASX')
and Toronto Stock Exchange ('TSX'), with exploration projects located in
Australia, Africa and North America.

In Africa, IMX owns and operates the highly prospective Nachingwea Exploration
Project in southeast Tanzania, which includes the potentially world-class
Ntaka Hill Nickel Sulphide project. Nachingwea is highly prospective for
nickel and copper sulphide, gold and graphite mineralisation. The Ntaka Hill
Nickel Sulphide Project is one of the world's best un-developed nickel
sulphide projects and has the potential to produce a very clean, high-quality
premium nickel concentrate.

In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation,
located 55 kilometres south-east of Coober Pedy in South Australia, where it
produces a premium coarse-grained magnetite-copper-gold DSO product at a rate
of 1.8Mtpa.

IMX is actively developing the Mt Woods Magnetite Project on the highly
prospective Mt Woods Inlier in South Australia. IMX currently has a JORC
Inferred Resource of 569Mt @ 27% Fe at the Snaefell Magnetite Deposit and a
Global Exploration Target of between 200-380Mt @ 25-35% Fe elsewhere in the
project. Studies indicate that coarse grained concentrates that could be
produced at Snaefell have the potential to produce a direct sinter feed
product which has the potential to attract a significant price premium.

IMX has also entered into a joint venture with OZ Minerals Limited (the Mt
Woods Copper-Gold JV Project) to explore the Mt Woods tenements for copper and
gold. OZ Minerals Limited is spending a minimum of $20 million for a 51%
interest in the non-iron rights, with IMX retaining a 49% interest in the
non-iron ore rights and 100% of the iron rights.

IMX owns 25.65% of Uranex (ASX:UNX), which is a dedicated uranium exploration
company, which is developing the Mkuju Uranium project in southern Tanzania.

Visit: www.imxresources.com.au

Forward-looking Statements: This News Release includes certain
"forward-looking statements". Forward-looking statements and forward-looking
information are frequently characterised by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may", "will" or
"could" occur. All statements other than statements of historical fact
included in this release are forward-looking statements or constitute
forward-looking information. There can be no assurance that such information
of statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such information. Important
factors could cause actual results to differ materially from IMX's
expectations.

These forward-looking statements are based on certain assumptions, the
opinions and estimates of management and qualified persons at the date the
statements are made, and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements or
information. Such factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other geological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, the ability of contracted parties (including laboratories and drill
companies to provide services as contracted); uncertainties relating to the
availability and costs of financing needed in the future and other factors.
Mineral resources that are not mineral reserves do not have demonstrated
economic viability. Exploration Target tonnage quantity and grades estimates
are conceptual in nature only. These figures are not resource estimates as
defined by the JORC (2004) or NI 43-101, as insufficient exploration has been
conducted to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral resource.

IMX undertakes no obligation to update forward-looking statements or
information if circumstances should change. The reader is cautioned not to
place undue reliance on forward-looking statements or information. Readers are
also cautioned to review the risk factors identified by IMX in its regulatory
filings made from time to time with the ASX, TSX and applicable Canadian
securities regulators.

FOR FURTHER INFORMATION PLEASE CONTACT:
IMX Resources Limited
Neil Meadows
Managing Director
+61 8 9388 7877
nmeadows@imxres.com.au
www.imxresources.com.au

Professional Public Relations
Tony Dawe
Investor Relations
+61 8 9388 0944
tony.dawe@ppr.com.au

Cautionary Statement: The TSX does not accept responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein.