BCI MINERALS LIMITED — M&A Activity 2014

Oct 5, 2014

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6 October 2014

The Manager Company Announcements Office ASX Limited

Dear Sir/Madam

Takeover bid by BC Iron Limited for Iron Ore Holdings Ltd

We enclose, by way of service pursuant to section 630(5)(b) of the Corporations Act 2001 (Cth), the notice of the status of defeating conditions to the offer made by BC Iron Limited under its off-market takeover bid for all the ordinary shares in Iron Ore Holdings Ltd, as required by section 630(3) of the C orporations Act 2001 (Cth).

Yours faithfully

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MORGAN BALL Director BC Iron Limited

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BC Iron Limited ABN 21 120 646 924 (‘BC Iron’)

Notice of status of defeating conditions

To: Iron Ore Holdings Ltd ABN 17 107 492 517 ( IOH )

ASX Limited

BC Iron has made offers under an off-market takeover bid for all the ordinary shares in IOH ( Offers ).

For the purposes of section 630(3) of the Corporations Act 2001 (Cth), BC Iron gives notice that:

• 1 as stated in its notice dated 8 September 2014, the condition to the Offers contained in section 12.8(g) (Assignment of port leases and licences) of BC Iron’s bidder’s statement dated 22 August 2014 ( Bidder’s Statement ) has been fulfilled and, accordingly, the Offers are free from that condition;

• 2 as stated in its notice dated 3 October 2014, it has freed the Offers from all the other conditions in section 12.8 of the Bidder’s Statement and, accordingly, the Offers are unconditional; and

its voting power in IOH is approximately 83.68%.

Dated: 6 October 2014

Signed for and on behalf of BC Iron Limited by

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Morgan Ball Director