Investments
Continental Nickel

In August 2007, IMX spun off 70% of the Nachingwea Nickel-Copper project into TSXV-listed Continental Nickel Limited (CNI). IMX has a substantial shareholding of 47.4% and also retains a 30% free carried interest in the Nachingwea Nickel-Copper project through a joint venture company structure.

  • Current market cap circa Cdn$10m
  • Well respected board with ex Falconbridge management team well versed in nickel & Africa
    • Board – Craig MacDougall (President), Jon North (Chairman), Paul Martin, Elaine Ellingham, Bruce Burton
    • Key Management – Patti Tirschmann (VP Exploration)
  • Currently circa Cdn$11.7m in the bank
  • IMX Resources holding of 47.3% escrowed until 8 August 2009, with anti-dilution provisions
  • IMX Resources has a 30% free carried JV interest initially at Nachingwea, CNI can earn up to an additional 10% by funding BFS & spending Cdn$15m
  • CNI has spent over Cdn$11m at Nachingwea to the end of 2008
  • A well funded and focussed management team with Nachingwea as the lead project

Nachingwea – New Nickel Sulphide Province

  • Major tenement position from first mover status
  • 7 significant near surface Ni-Cu sulphide zones at Ntaka
  • Potential repeat Ntaka Intrusions identified

Nachingwea - Ntaka TDEM Targets

  • 53 diamond holes for 10,514m completed in 2007
  • 119 diamond holes for 15,573m completed in 2008 for Ntaka & regional drilling – assay results from 50 holes received
  • 6 new Ni-Cu sulphide zones discovered in 2007 in addition to 2006 NAD013 zone at Ntaka at shallow depth

Nachingwea – 2006 & 2007 Ntaka Drilling Highlights

  • Exceptionally high grade Ni intersections from NAD013 & H targets
  • 24 out of 53 drillholes in 2007 program intersected >2% Ni

Nachingwea – 2007 Ntaka Drilling Highlights

  • Significant Ni grades and widths on other conductors
  • Except for Zone G, typically very high nickel tenors

Ntaka NAD013 Zone Intersections

  • Massive sulphides with very high nickel tenors
  • Zone is folded and plunges southwest
  • Traced over 150m strike - open along strike & down plunge
  • High grade Ni (≤ 17.1%) & Cu (≤ 5.5%) lenses
  • Co values range ≤ 0.19%
  • Potential for significant Cu & Co by product credits

Ntaka L Zone Intersections

  • Disseminated to massive sulphides
  • Zone is folded and plunges southwest
  • Traced over 175m strike - open down plunge
  • Grades up to Ni (≤ 14.1%) & Cu (≤ 2.6%)
  • Co values range ≤ 0.23%

Ntaka H Zone Intersections

  • Remobilised massive sulphides which pinch & swell
  • Single to multiple veins
  • Zone has moderate ot shallow dip to southwest
  • Traced over 150m strike - open to south
  • Grades up to Ni (≤ 14.7%) & Cu (≤ 1.4%)
  • Co values range ≤ 0.18%

Ntaka J Zone 2008 Drilling

  • Net textured & massive sulphides with very high nickel tenors
  • Open to north
  • Thicker widths with lower Ni (≤ 3.4%) & Cu (≤ 0.5%)
  • Higher Co values (≤ 0.22%)
  • Shallow westerly dip

Ntaka M Zone Intersections

  • Disseminated to semi-massive sulphides
  • Zone dips east with an extent of 75-100m
  • Traced over 225m strike – moderate plunge to south
  • Thicker widths with lower grades, High grade Ni (≤ 5.1%) & Cu (≤ 0.7%)
  • Co values range ≤ 0.07%

2007 VTEM Outcomes

  • 1,082km2 2007 VTEM survey identified at least five new conductive targets with similarities to the Ntaka intrusion
  • Strong mineralising system with widespread in-situ magmatic and remobilized magmatic nickel sulphides
  • Circa 5,000m regional follow-up drilling program undertaken after ground EM

Nachingwea – 2008 Regional

  • 2008 Budget C$7m, mainly on drilling & VTEM
  • 1,003km2 VTEM survey completed over 2 new high priority regional areas and core of Ntaka area
  • Resources expected for Ntaka in 2009

For further information please visit:  www.continentalnickel.com