Perth, Australia: IMX Resources Limited announces that Mr Neil Meadows has resigned from his role as Managing Director and will be transitioning out of the Company.

Mr Meadows said, “I believe I have taken the Company as far as I can, and leave behind a robust and cash flow positive mining operation at Cairn Hill, an exceptionally strong joint venture with MMG covering our Tanzanian property and a potential development with the Mt Woods Magnetite Project.

Along with a very capable management team assembled over the last two years, I believe these achievements have IMX well positioned for the next phase of its history however have come to the conclusion that someone with a different skill set is required to lead the Company through that next phase of its development.”

In the interim period until a permanent replacement is identified, Mr Meadows’ role will be assumed by IMX Chairman John Nitschke.

Mr Nitschke said, “On behalf of the IMX Board, I would like to sincerely thank Neil for his outstanding contribution over the past two years. Neil’s leadership, strategic vision and hard work have transformed IMX into a stronger and more focused company. Under Neil’s direction, the Company dramatically turned around operational performance at our Cairn Hill mining operation, while maintaining an excellent safety performance, substantially reducing operating costs and strengthening key commercial relationships. Neil also led the team that recently established the US$60 million five-year joint venture agreement between IMX and MMG for the exploration of the Nachingwea property in Tanzania and brought the concept of the Mt Woods Magnetite Project in South Australia to the attention of the Company which has been further progressed to the point where it is ready for commercialisation.”

The Board has commenced a process to identify a permanent replacement for Mr Meadows.