MGX RESOURCES LIMITED — Board/Management Information 2011

Oct 30, 2011

ABN 87 008 670 817

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Mount Gibson Iron Limited

First Floor, 7 Havelock Street West Perth 6005, Western Australia

PO Box 55, West Perth WA 6872

VIA: WWW.ASXONLINE.COM

Telephone: 61-8-9426-7500 Facsimile: 61-8-9485 2305 E-mail: admin@mtgibsoniron.com.au

31 October 2011

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The Manager Company Announcements ASX Limited Level 10, 20 Bond Street SYDNEY NSW 2000

APPOINTMENT OF CHIEF OPERATING OFFICER

Mount Gibson Iron Limited (“ Mount Gibson ”) is pleased to announce the appointment of Jim Beyer as Chief Operating Officer, effective from 2 November 2011. Jim will be responsible for the management of the Company’s existing mining, port and infrastructure operations.

Jim holds a Bachelor of Mining Engineering and a post graduate Masters in Mineral Economics. Jim has a broad range of operating and start up experience encompassing 25 years across a number of commodities. In the past ten years he has held general management, operational and planning roles with WMC Resources at its Olympic Dam operation. He has also held general management roles with Newmont Mining Corporation, including Operations General Manager for the recently constructed Boddington Gold Mine, where he had responsibility for start-up preparations, commissioning and production ramp up. Most recently he has been responsible for the development and implementation of Newmont’s Business Improvement initiatives and Technical Services support across the Asia Pacific region.

Mount Gibson’s Managing Director Luke Tonkin said: “Jim is a welcome addition to the management team who has the appropriate skills and attributes to add significantly to Mount Gibson’s operational performance. Jim is highly credentialed with a broad experience base which will complement and enhance Mount Gibson’s operations.”

Yours sincerely MOUNT GIBSON IRON LIMITED

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David Berg Company Secretary

For further information: Len Eldridge Mount Gibson Iron Limited +61-8-9426-7500 www.mtgibsoniron.com.au

David Griffiths Gryphon Management Australia +61(0)419-912-496 www.gryphon.net.au