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Highly Regarded Mining Executive Derek Fisher Joins IMX Board

Dr Fisher's experience in iron ore and nickel will be invaluable to IMX as it ramps up exploration and development across its projects

PERTH, AUSTRALIA -- (Marketwired) -- 02/10/14 -- IMX Resources (ASX:IXR)(TSX:IXR)(TSX:IXR.WT) is pleased to announce that it has taken another key step, with the appointment of highly experienced mining executive Derek Fisher as a Non-executive Director.

Dr Fisher has more than 40 years' experience in mining companies, spanning both corporate and operational roles, with a particular emphasis on iron ore and nickel projects.

He has played key roles in listing and managing resources companies on both the ASX and TSX as well as identifying, evaluating, developing and operating quality mine developments.

He has also been Managing Director or Non-executive Director of companies that have developed mines in Australia, East and West Asia and Africa and has extensive experience in dealing with governments both at the political and bureaucratic levels.

Dr Fisher was co-founder and a Director of successful African copper miner Anvil Mining from 1995-2000 and co-founder and CEO/Managing Director of Moly Mines Limited from 2003 until 2012.

Moly Mines explored the Spinifex Ridge molybdenum-copper deposit and took it to the stage of final feasibility and funding. It subsequently discovered the Spinifex Ridge Iron Ore deposit which was brought into production in just six months and now ships DSO to China through Port Hedland.

He was also co-founder and Director of Fireside Resources from 2008-2010 until its sale to Indonesian coal miner Indo Mines. He was a Non-executive Director of ASX-listed gold explorer Cortona Resources until its takeover by Unity Mines.

Dr Fisher's experience in accelerating the development of Spinifex Ridge and his first-hand knowledge of the South Australian iron ore industry will be particularly valuable to IMX as it looks to advance its own suite of South Australian iron ore projects.

Dr Fisher holds a BSc (Hons1) in Geology from the University of New England, Armidale, NSW and a PhD in Geology from the University of Toronto.

IMX Chairman John Nitschke said he was delighted that the Company had secured someone of Dr Fisher's vast skill and experience, particularly in developing iron ore and nickel projects.

"Derek is well known throughout the industry, both in Australia and overseas, and he brings a wide range of skills and abilities to our company," Mr Nitschke said.

"He has strong capital markets experience with excellent contacts in Australia, North America, Europe and Asia - having most recently raised more than $1 billion of debt and equity for the Spinifex Ridge project in Western Australia," Mr Nitschke added.

JOHN NITSCHKE, Acting Managing Director

About IMX Resources Limited

IMX Resources Limited is an Australian-based mining and exploration company, listed on the Australian Securities Exchange 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.


ABN 67 009 129 560

IMX Resources Limited
John Nitschke
Acting Managing Director
Tel: +61 8 9388 7877
E: [email protected]

IMX Resources Limited
Phil Hoskins
Chief Financial Officer
Tel: +61 8 9388 7877
E: [email protected]

Read Corporate
Paul Armstrong/Nicholas Read
Tel: +61 8 9388 1474
E: [email protected]

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