IMX Resources Commences Drilling at Mt Woods Magnetite

IMX Resources Commences Drilling at Mt Woods Magnetite Project 
-- Targeting coarse high grade magnetite mineralisation  
-- New intensely magnetic targets identified  
-- Potential to increase Mt Woods Magnetite Project resource base  
-- 3000m RC drilling programme underway 
WEST PERTH, AUSTRALIA -- (Marketwire) -- 10/25/12 -- IMX Resources
Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the 'Company') has
commenced drill testing of magnetic targets at the Mt Woods Magnetite
Project. Several particularly strong magnetic anomalies have been
identified lying approximately 25km southeast of IMX's Cairn Hill
magnetite-copper-gold mine and 30km east of the Snaefell prospect,
which currently has an Inferred Resource of 569Mt at 27.1% Fe (18% Fe
Managing Director Neil Meadows commented, "This new phase of
exploration drilling is designed to test the strongest targets with
the best potential for the quality high grade coarse magnetite that
makes the Mt Woods Magnetite Project unique. This is consistent with
our strategy to demonstrate the potential of the numerous untested
magnetic targets within our tenements, and to significantly increase
the resource base of the Mt Woods Magnetite Project to make it more
attractive to a potential development partner. " 
Geophysical modelling from recent ground magnetics surveys indicates
that four of the new targets have a greater magnetic intensity than
the nearby Tomahawk prospect where up to 9m at 44.4% Fe was
intersected in coarse magnetite earlier this year(2). It is expected
that coarse grained magnetite that is characteristic of the Mt Woods
Magnetite Project will also be intersected at the new targets. 
In addition to the magnetite potential, by increasing drill coverage
of the most iron rich rocks this programme also has the potential to
discover specular hematite in a style similar to Arrium Limited's
Peculiar Knob mine, located just 20km to the south of IMX's Tomahawk
prospect (Figure 1).  
The reverse circulation (RC) drilling programme is expected to be
completed during November with the results available in the first
quarter of 2013. 
To view Figure 1, please visit the following link: 
Competent Persons / Qualified Person / NI 43-101
Information in this report relating to exploration results is based
on data compiled by Bianca Manzi who is a Member of the Australian
Institute of Geoscientists, and who is a full-time employee of the
Company. Bianca Manzi has sufficient relevant experience to qualify
as a Competent Person under the 2004 Edition of the Australasian Code
for reporting of Exploration Results, Mineral Resources and Ore
Reserves. Bianca Manzi consents to the inclusion of the data in the
form and context in which it appears. 
About IMX Resources Limited 
IMX Resources Limited is an Australian based mining and base &
precious metal exploration company dual-listed on the Australian and
Toronto stock exchanges (TSX:IXR)(TSX:IXR.WT)(ASX:IXR), 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 word-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
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 premium.  
IMX has also entered into a joint venture with OZ Minerals (the Mt
Woods Copper-Gold JV Project) to explore the Mt Woods tenements for
copper and gold. OZ Minerals is spending a minimum of $20M for a 51%
interest in the non-iron rights, with IMX retaining a 49% interest in
the non-iron rights and 100% of the iron ore 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. 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. 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
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 1 March 2012 
(2) ASX 25 January 2012 
The TSX does not accept responsibility for the adequacy or accuracy
of this releas
e. 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
+61 8 9382 2399 (FAX) 
Professional Public Relations
Tony Dawe
Investor Relations
+61 8 9388 0944
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