Multi-Pronged Exploration Program to Mark Aggressive New Year Campaign at Ntaka Hill Nickel Sulphide Project

Key Points



--  Field activities resume for 2014 with re-opening of Ntaka Hill
    exploration camp. 
--  Exploration underpinned by MMG's geological model targeting southerly-
    plunging sills and chonoliths. 
--  Scope of search extended across broader approx. 3km by approx. 12km
    Ntaka-Lionja trend, with recently completed mapping of the Ntaka Hill-
    Lionja intrusion revealing a potentially world-class intrusive complex. 



IMX Resources (ASX:IXR)(TSX:IXR)(TSX:IXR.WT) is pleased to advise that a
multi-pronged exploration program has commenced at its Ntaka Hill Nickel
Sulphide Project in south-eastern Tanzania, East Africa (Figure 1) as part of an
aggressive campaign to "crack the code" of this potentially outstanding project.


The work will see joint venture partner MMG Exploration Holdings ("MMG") conduct
a comprehensive analysis of the extensive geophysical data acquired and the
drilling completed late last year at Ntaka Hill, together with extensive
historical drilling, in order to identify targets characteristic of the
high-grade nickel sulphide intersections recorded in previous drilling programs.


This work is expected to pave the way for the next key phase of drilling which
is targeted to commence next quarter following the East African wet season.


By marrying the new geophysical data base with the existing high-grade drilling
results, the ability to increase understanding of the geology and mineralization
at Ntaka Hill and replicate the existing high-grade results on a widespread
basis will be greatly enhanced. The Ntaka Hill exploration program, which is
being operated and funded by MMG under the terms of its US$60 million farm-in,
is aimed at identifying the tube-like structures or "chonoliths" which are
believed to host the high-grade nickel sulphides at Ntaka Hill and the
surrounding Nachingwea Project.


These structures are believed to host the high-grade intersections, including
13.65m at 3.46 per cent nickel and 0.62 per cent copper (NAD13-372)(1) reported
in recent drilling, and previous intersections drilled by IMX such as 17.25m at
2.28 per cent nickel and 0.57 per cent copper (NAD10-226)(2) and 15.95m at 3.51
per cent nickel and 0.55% copper (NAD10-220)(3). 


Since announcing these exploration results on 1 November 2013, 25 January 2011
and 14 December 2010, IMX is not aware of any new information or data that
materially affects the information included in those announcements. 


Surface mapping and systematic soil sampling over the Ntaka Hill and Lionja
intrusions were completed in 2013. This outlined previously unidentified surface
gossans over Lionja and extended the known coverage of the intrusion in this
area to the east and south-east (Figure 2). 


In addition, MMG applied state-of-the-art geophysics, including "deep-looking"
NSAMT (natural source audio magnetotellurics) surveys, MLEM (moving loop EM)
surveys and infill ground gravity surveys across the Ntaka Hill and Lionja
intrusions to assess the potential for nickel mineralisation.


The assessment of the 2013 drilling, mapping and geophysical data will take
place throughout the March Quarter of 2014 in preparation for the scheduled
start of drilling in May 2014.


MMG is targeting a resource in the order of 27 million tonnes grading at or
above 1.5 per cent nickel for Ntaka Hill and Lionja based on a geological model
of chonolith-hosted high grade nickel sulphides within the large nickel rich
magmatic Ntaka Hill-Lionja intrusion. 


The current Measured and Indicated Resource for Ntaka Hill stands at 20.3Mt at
0.58 per cent nickel and 0.13 per cent copper for 117,880 tonnes of contained
nickel. The Inferred Resource is 35.9Mt at 0.66 per cent nickel and 0.14 per
cent copper for 238,500 tonnes of contained nickel.(4) 


Since announcing this mineral resource estimate on 19 August 2013, IMX is not
aware of any new information or data that materially affects the information
included in that announcement and that all material assumptions and technical
parameters underpinning the estimates in that announcement continue to apply and
have not materially changed. 


IMX Acting Managing Director John Nitschke said the results generated to date at
Ntaka Hill supported the Company's strong belief in the potential of the
project.


"There is clearly significant nickel mineralisation already at Ntaka Hill and
this work has confirmed the potential of the entire Ntaka Hill-Lionja intrusive.
The next phase of exploration is aimed at unlocking the code which controls that
mineralisation so that we can identify the high-grade structures that will
transform it into a world-class project."


JOHN NITSCHKE, Acting Managing Director

To view Figure 1 - map showing Ntaka Hill Project location, please visit the
following link: http://media3.marketwire.com/docs/IMX-Figure1.pdf.


To view Figure 2 - Gravity image showing the broader Ntaka Hill-Lionja
intrusion, please visit the following link:
http://media3.marketwire.com/docs/IMX-Figure2.pdf. 


About IMX Resources Limited

IMX Resources Limited is an Australian-based mining and exploration company,
listed on the Australian Securities Exchange ('ASX') and Toronto Stock Exchange,
with projects located in Australia and East Africa. 


In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation,
located 55km 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.
This operation generates cash flow which underpins the IMX investment
proposition.


IMX is also actively exploring for direct shipping hematite at its Mt Woods
tenements, located near the Cairn Hill Mining Operation, and progressing
development options for its Mt Woods Magnetite Project. Studies indicate that a
smaller scale, lower cost project may be developed utilising existing
infrastructure already in use at the Cairn Hill Mining Operation. Efforts to
secure a partner to support development of the Mt Woods Magnetite Project are
continuing.


In Africa, IMX owns the highly prospective Ntaka Hill Nickel Sulphide Project,
located within the broader 7,000km2 Nachingwea Exploration Project in
south-eastern Tanzania which is prospective for nickel and copper sulphide, gold
and graphite mineralization. Ntaka Hill is a potentially world-class nickel
sulphide project which is being explored under a US$60 million exploration joint
venture with MMG Exploration Holdings Limited. 


Visit: www.imxresources.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. 


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. These 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. 


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.


(1) ASX Announcement 1 November 2013

(2) ASX Announcement 25 January 2011

(3) ASX Announcement 14 December 2010

(4) ASX Announcement 19 August 2013

FOR FURTHER INFORMATION PLEASE CONTACT: 
IMX Resources Limited
John Nitschke
Acting Managing Director
[phone]
[e-mail]


IMX Resources Limited
Phil Hoskins
Chief Financial Officer
[phone]
[e-mail]
www.imxresources.com.au


Media:
Read Corporate
Paul Armstrong/Nicholas Read
[phone]
[e-mail]