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

Sun Feb 3, 2013 7:43pm EST

* Reuters is not responsible for the content in this press release.

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

    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

    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

    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. 


    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.

    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.

IMX Resources Limited
Neil Meadows
Managing Director
+61 8 9388 7877

Professional Public Relations
Tony Dawe
Investor Relations
+61 8 9388 0944

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