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MGX RESOURCES LIMITED Capital/Financing Update 2008

Dec 30, 2008

65331_rns_2008-12-30_9fdcd026-f5f9-48df-882f-10749062c15b.pdf

Capital/Financing Update

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Mount Gibson Iron Limited

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ABN 87 008 670 817

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

PO Box 55, West Perth WA 6872

Telephone: 61-8-9426-7500 Facsimile: 61-8-9485-2305 E-mail: [email protected]

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VIA: WWW.ASX.ONLINE.COM

31 December 2009

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

Placement

Mount Gibson Iron Limited ( Mount Gibson ) advises that 110 million new shares were allotted today to Shougang Concord International Enterprises Company Limited under the Placement described in the prospectus provided to ASX on 3 December 2008 ( Prospectus ). The shares were issued at A$0.60 per share to raise approximately A$66 million before expenses.

The Appendix 3B in relation to the Placement follows. The timetable for and details of the Placement are set out in the Prospectus.

Yours sincerely,

MOUNT GIBSON IRON LIMITED

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David Berg Company Secretary

For further information:

Luke Tonkin or Alan Rule Mount Gibson Iron Limited +61-8-9426-7500 www.mtgibsoniron.com.au