Image Resources NL (ASX: IMA) ('Image' or 'the Company') is pleased to report a strong second quarter and first half of production at its 100%-owned, high-grade, zircon-rich Boonanarring mineral sands project, located 80km north of Perth in the North Perth Basin in WA.

Managing Director and CEO Patrick Mutz said 'In the first half of 2020 Image has demonstrated strong operational performance with production of 167kt HMC, despite the significant adjustments to daily work practices aimed at minimising the potential spread of COVID-19.

The June quarter represents a turning point for our sales volumes which were up sharply from the prior quarter. It was therefore particularly pleasing, subsequent to period end, to receive a sales agreement with our off-take partners for 100kt of HMC to be delivered over the next 3-5 months to monetise our HMC inventory, while keeping open the opportunity to sell additional material to others outside of the off-take agreements. The Company remains in a very strong position to achieve our original guidance and we have a strong balance sheet, solid underlying assets and exciting opportunities for future growth.'

Contact:

Tel: +61 8 9485 2410

Email: info@imageres.com.au

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