IMX Resources : Appendix 3A.5

Question no

Question

Answer

1.1

*Name of entity

IMX Resources Limited

1.2

*Registration type and number

One of ABN/ARSN/ARBN/ACN or other registration type and number (if "other" please specify what type of registration number has been provided).

67 009 129 560

1.3

*ASX issuer code

IXR

1.4

*The announcement is

Tick whichever is applicable.

√ New announcement

Update/amendment to previous announcement Cancellation of previous announcement

1.4a

*Reason for update

Mandatory only if "Update" ticked in Q1.4 above. A reason must be provided for an update.

1.4b

*Date of previous announcement to this update

Mandatory only if "Update" ticked in Q1.4 above.

1.4c

*Reason for cancellation

Mandatory only if "Cancellation" ticked in Q1.4 above. If information has previously been provided in Part 3D of the form "Preference +security distribution rate details" please also confirm whether the rate changes remain in place for the +security or are also cancelled.

1.4d

*Date of previous announcement to this cancellation

Mandatory only if "Cancellation" ticked in Q1.4 above.

1.5

*Date of this announcement

The date of lodgement of the form by the entity via ASX Online.

31 May 2016

1.6

*Applicable ASX +security code and description for return of capital

Please select the +security to which the notification applies. Only one

+security can be selected for each form. Consequent changes to option

pricing are covered in later parts of this form.

IXR

Return of capital pursuant to the sale of the Chilalo Graphite project and other graphite tenements as approved by IMX shareholders on 20 April 2016.

Question No.

Question

Answer

2.1

*Are any of the below approvals required for the return of capital before business day 0 of the timetable?

• +Security holder approval

• Court approval

• Lodgement of court order with +ASIC

• ACCC approval

• FIRB approval;

• Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the return of capital.

If any of the above approvals apply to the return of capital before business day 0 of the timetable, please answer 'yes' and provide details at Q2.2. If "no" go to Q2.3.

The purpose of the question is to confirm that relevant approvals are received prior to ASX establishing an ex market in the +securities. If the entity wishes to disclose approvals or conditions which are to be resolved at

a later date it should use Part 5 "Further information".

• Security holder approval

• Receipt of a draft class ruling from the Australian Taxation Office confirming the availability of Demerger Relief

• Graphex receiving subscriptions for an issue of fully paid ordinary shares in the amount of at least $4.25 million pursuant to a prospectus lodged by Graphex

• Graphex obtaining a conditional admission letter from ASX on terms satisfactory to the Graphex directors, acting reasonably

2.2

Approvals

Select appropriate approval from drop down box as applicable. More than one approval can be selected. This question refers only to events which take place before business day 0 of the timetable. The purpose of the question is to confirm that relevant approvals are received prior to ASX establishing an ex market in the

+securities. The "Date for determination" is the date that you expect to know if the approval is given for example the date of the +security holder meeting in the case of +security holder approval or the date of the court hearing

in the case of court approval. If the entity wishes to disclose approvals or conditions which are to be resolved at a later date it should use Part 5 "Further information". Please note that Listing Rules 7.19.1-7.19.3 set time limits for the notification of court approval, the proposed date for lodgement of court order with a regulatory authority and confirmation that the court order has been lodged with the regulatory authority.

*Approval/ condition

*Date for determination

*Is the date estimated or actual?

**Approval received/ condition met?

Only answer this question when you know the outcome of the approval - please advise on or before

+business day 0

of the relevant Appendix 6A or Appendix 7A timetable.

Comments

+Security holder approval

20 April 2016

Estimated

OR

√ Actual

√ Yes No

Court approval

Estimated

OR

Actual

Yes No

Lodgement of court order with

+ASIC

Estimated

OR

Actual

Yes No

ACCC approval

Estimated

OR

Actual

Yes No

FIRB approval

Estimated

OR

Actual

Yes No

Draft class ruling from the ATO

Received 20 May

2016

Estimated

OR

√ Actual

√ Yes No

Graphex receiving subscriptions for at least $4.6 million

Offer closed on 11 May 2016 with subscriptions of

$7.0 million after scale back

Estimated

OR

√ Actual

√ Yes No

Graphex obtaining a conditional admission letter from ASX on terms satisfactory to Graphex directors

Obtained on 23

May 2016

Estimated

OR

√ Actual

√ Yes No