BCI MINERALS LIMITED — M&A Activity 2014

Oct 7, 2014

ASX RELEASE – 8 OCTOBER 2014

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IRON ORE HOLDINGS TAKEOVER OFFER UPDATE

BC Iron Limited (ASX:BCI) (“BC Iron”) is pleased to provide an update in relation to its off-market takeover offer (“Offer”) for Iron Ore Holdings Limited (“IOH”).

As at 4.00pm (Australian Western Standard Time) on 7 October 2014, BC Iron held relevant interests in 90.37% of IOH shares , meaning BC Iron is now entitled to proceed with compulsory acquisition.

BC Iron wishes to advise the Offer will not be extended and will close at 5.00pm (Australian Western Standard Time) on 14 October 2014. BC Iron will proceed with compulsory acquisition shortly .

BC Iron urges all IOH shareholders who have not yet accepted the Offer to do so without delay. If you accept the Offer before it closes, you will receive your consideration more rapidly than you would under the compulsory acquisition process.

BC Iron Managing Director, Mr Morgan Ball, said “ We are pleased to reach the 90% acceptance milestone. We thank Iron Ore Holdings shareholders for supporting the transaction and welcome them to an enlarged BC Iron. We are now looking forward to completing the transaction and advancing Iron Ore Holdings’ attractive, long-life assets. ”

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FOR FURTHER INFORMATION:

MORGAN BALL

MANAGING DIRECTOR BC IRON LIMITED TELEPHONE: +61 8 6311 3400

MEDIA ENQUIRIES:

DAVID TASKER / JAMES HARRIS PROFESSIONAL PUBLIC RELATIONS

TELEPHONE: +61 8 9388 0944

T +61 8 6311 3400 E info@bciron.com.au F +61 8 6311 3449 W www.bciron.com.au

BC Iron Limited ABN 21 120 646 924

Level 1, 15 Rheola Street West Perth WA 6005

GPO Box 2811 West Perth WA 6872

ABOUT BC IRON LIMITED

BC Iron is an iron ore development and mining company with key assets in the Pilbara region of Western Australia. The Company’s core focus is the Nullagine Iron Ore Project, an unincorporated 75:25 joint venture with Fortescue Metals Group Limited. The NJV uses Fortescue’s infrastructure at Christmas Creek, 50km south of the Nullagine mine, to rail its ore to Port Hedland from where it is shipped directly to customers overseas.

BC Iron has had outstanding success since listing in December 2006. Iron ore exports commenced in February 2011 and since April 2013, the NJV has been operating at a nameplate production rate of 6Mtpa. BC Iron was added to the S&P/ASX 200 Index in December 2013.

KEY STATISTICS

Shares on Issue: 124.3 million Cash & Equivalents: $158.9 million as at 30 June 2014 Board: Tony Kiernan Chairman and Non-Executive Director Morgan Ball Managing Director Andy Haslam Non-Executive Director Malcolm McComas Non-Executive Director Brian O’Donnell Non-Executive Director Terry Ransted Non-Executive Director Alwyn Vorster Executive Director Peter Wilshaw Non-Executive Director Mike Young Non-Executive Director Anthea Bird Company Secretary Linda Edge Company Secretary Major Shareholders: National Australia Bank 6.4%

Website: www.bciron.com.au

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