Market Cap
A$18.7m ($0.20 p/s)
Issued Capital
93,403,328
Directors
Peter Unsworth
Chairman
Michael Jones
Managing Director
Rodney Fripp
Executive Director
Paul Ingram
Non-Executive Director
Mark Pitts
Company Secretary
www.impactminerals.com.au
309 Newcastle Street
Northbridge
Western Australia 6003
tel +61 (8) 6454 6666
fax +61 (8) 6454 6667
email

ASX ANNOUNCEMENT
ASX: IPT
Date: 14 October 2009
Number: 113/141009
Update on New Major Shareholder
and Botswana Exploration
China Growth Minerals Limited Becomes a Significant
Shareholder in Impact
On 25 September 2009 China Growth Minerals Limited ("CGM"),
a Hong Kong-based investment company, reached agreement to
acquire an initial 5.92 million shares in Impact (6.34% of the issued
capital) from Polo Resources Limited ("Polo").

CGM acquired the
shares for 17.5 cents per share and has an option to acquire a
further 5.92 million shares from Polo within six months.

Impact
has this week confirmed that Polo"s shareholding in Impact now
comprises only the 5.92 million shares under option to CGM.
CGM has been formed to invest in mineral projects worldwide
and has advised Impact that the acquisition is a strategic longterm
investment based in particular on Impact"s very large
uranium exploration portfolio in Botswana which complements
CGM"s investment in A-Cap Resources Limited.

A-Cap owns the
100Mlb Lethlakane uranium project.
The Board of Impact welcomes CGM onto the share register.
Botswana Exploration Programme Proceeding on Schedule
Impact"s uranium exploration licences in Botswana, which have
an area of about 27,000 sq kilometres, cover 350 kilometres of the
strike extensions of rocks that host many significant uranium
deposits throughout southern Africa, including those at the
adjacent Letlhakane Project (Figure 1);
Figure 1.

Impact"s Prospecting Licences for Uranium in Eastern Botswana
Eighteen targets with a combined strike length of more than 400 km have been identified to
date by Impact and large soil geochemistry programmes are underway targeting five of the
priority targets at:
• Lekobolo: a calcrete and Karoo sediment target adjacent to the Letlhakane Project;
• Kodibeleng - Ikongwe - Shoshong: 80 km of calcrete palaeochannels; and
• Sua: elevated airborne radiometric uranium responses covering more than 200 sq
kilometres.
Sampling has been completed both at Lekobolo and over parts of Sua.

These samples are in
transit to Perth for analysis.

Sampling has commenced at Kodibeleng.
Drilling is intended on at least two of these targets before year end, weather permitting.
Dr Michael G Jones
Managing Director
The review of exploration activities and results contained in this report is based on information
compiled by Dr Mike Jones, a Member of the Australian Institute of Geoscientists.

He is a director of
the company and works full time for Impact Minerals Limited.

He has sufficient experience which is
relevant to the style of mineralisation and types of deposits under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of
the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves (the
JORC Code).

Mike Jones has consented to the inclusion in the report of the matters based on his
information in the form and context in which it appears.