Private Sub Button2_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Button2.Click
Dim aimg As New Microsoft.VisualBasic.Compatibility.VB6.PictureBoxArray
CType(aimg(1), System.ComponentModel.ISupportInitialize).BeginInit()
Me.SuspendLayout()
aimg(1).ImageLocation = "c:\jogo\mapa\f.png"
aimg(1).Location = New System.Drawing.Point(150, 22)
aimg(1).Name = "img"
aimg(1).Size = New System.Drawing.Size(48, 48)
aimg(1).SizeMode = System.Windows.Forms.PictureBoxSizeMode.AutoSize
aimg(1).TabIndex = 1
aimg(1).TabStop = False
Me.Controls.Add(aimg(1))
CType(aimg(1), System.ComponentModel.ISupportInitialize).EndInit()
Me.ResumeLayout(False)
Me.PerformLayout()

End Sub

Private Sub Button1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Button1.Click
Dim img2() As PictureBox = {New PictureBox, New PictureBox}
img2(1).ImageLocation = "c:\jogo\mapa\f.png"
img2(1).Location = New System.Drawing.Point(TextBox1.Text, TextBox2.Text)
img2(1).Name = "robson"
Me.Controls.Add(img2(1))
End Sub

Sim, basta incrementar um método no evento click dela.

Abraços...